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Audi Group in first half of 2020: effects of corona pandemic still very significant
- Deliveries to customers: stabilization in the markets
- Continuing along the electrification course: Audi e-tron is world market leader for all-electric vehicles from German premium manufacturers
- Audi Group: €20,476 million revenue, €643 million operating loss before special items, operating return on sales before special items of minus 3.1 percent
- Net cash flow of €1,953 million mainly due to sales of equity interests, investment discipline and inventory reduction
- CFO Arno Antlitz: “We are starting the second half of the year with robust liquidity and are consistently implementing our product roadmap”
- Outlook: Significant recovery expected in the second half of the year, but key financials for 2020 as a whole remain adversely affected by corona
Results of the first six months: In the first half of this year, deliveries, revenue and operating profit were below the previous year’s figures. As expected, the consequences of the corona pandemic are presenting major challenges for the entire economy and for Audi as well. The second quarter in particular featured an orderly restart of production and a significant recovery in customer demand. A positive trend is evident in car deliveries: At minus 22 percent, Audi is significantly better positioned than the market as a whole with minus 28 percent. As a result, the Audi Group’s revenue in the first half of 2020 totaled €20,476 million and its operating loss before special items was €643 million.