#Finance

The Audi Group delivered a solid performance in the 2024 financial year despite challenging market conditions. In the past twelve months, revenue totaled 64.5 billion euros, operating profit amounted to 3.9 billion euros, and the operating margin was 6 percent. Net cash flow reached 3.1 billion euros. Audi will continue to deliver in 2025 – model by model. By the end of the year, the company will have the youngest product portfolio in its market segments.

SEAT S.A. has presented its 2024 financial results and future strategic objectives amid ongoing challenges in the automotive industry. Last year, according to International Financial Reporting Standards (IFRS), operating profit reached a record 633 million euros, which represents a 1.3% increase compared to 2023. Annual turnover grew to a record 14.53 billion euros, 1.4% more than the previous year. Return on sales remains stable at 4.4%. These results reinforce the company’s confidence in the strength of its strategy to meet present and future challenges.

2024 was the best financial year in the history of Škoda Auto Group. It achieved a record sales revenue of €27.8 bn (+4.7%) and an operating profit of €2.3 bn (+30.0%). Net cash flow more than doubled, exceeding €2 bn (+116.2%), and return on sales further increased to 8.3%, reflecting the excellent overall financial performance and resilience of the company. These strong results are allowing the company to navigate the upcoming challenges of the intensified transformation from a position of strength. The further improved financial figures are primarily driven by higher sales, favourable mix effects, and beneficial exchange rates, alongside the consistent implementation of the Next Level Efficiency+ programme, with a strong focus on optimising costs. Škoda Auto delivered 926,600 vehicles to customers worldwide last year (+6.9%), with the Octavia remaining the brand’s bestseller (215,700 vehicles; +12.4%).

The Volkswagen, Škoda, SEAT/Cupra and Volkswagen Commercial Vehicles brands worked closely together in the last financial year. Jointly optimized processes strengthened the resilience of the Brand Group Core. Despite necessary restructuring – at the Volkswagen brand in particular – the brand group reported a solid operating result of some 7 billion euros in a challenging market environment. The successful implementation of model ramp-ups together with moderate increases in vehicle sales and sales revenue underscore the increased resilience of the brand group in the face of external challenges.

On March 11, 2025, the Volkswagen Group will publish the Full Year Results 2024.

The TRATON GROUP increased its sales revenue in 2024 by 1% to €47.5 billion (2023: €46.9 billion) in a market environment that was difficult at times and despite marginally lower unit sales. A favorable market and product mix and better unit price realization in the industrial business (TRATON Operations) supported the sales revenue. Thanks to the increased portfolio volume, the TRATON Financial Services segment lifted its sales revenue by 22% to €1.9 billion (2023: €1.6 billion).

On January 14, 2025, the Volkswagen Group published the deliveries for October to December 2024.

The Audi Group's financial performance in the first nine months reflects the challenging macroeconomic situation. This includes a difficult market environment and expected restructuring expenses, for example as a result of a possible alternative use or a possible plant closure of the Brussels site. In the first nine months of 2024, revenue amounted to €46.3 billion, operating profit was €2.1 billion, and net cash flow amounted to €3.8 billion. The Progressive* brand group delivered a total of 1,251,381 vehicles from January to September, including 115,788 all-electric models. Audi is currently launching electric models and highly efficient combustion-engine vehicles in important core model series as part of a major product initiative. With the Audi Agenda, the company is also increasing its competitiveness and improving its processes and organizational structures.

SEAT S.A. achieved an operating profit of 415 million euros between January and September 2024. These results were 17.2% lower than for the same period of the previous year (501 million euros), in a challenging economic environment affecting the global automotive industry. Furthermore, 2024 has been a pivotal year for the company, marked by substantial investment to support several major launches for the CUPRA brand’s range of BEVs and PHEVs as the company drives forward its transformation toward electrification.

Škoda Auto maintains its positive momentum: deliveries to customers in the first nine months of 2024 increased to 671,300 vehicles (+4.5% YoY). This growth was supported by a strong third quarter, with 222,700 vehicles delivered (+6%). The automaker is performing particularly well in Europe, outpacing the overall European market. The company’s financial figures underscore its position of strength: revenue increased to €20.4 billion (+3.8%), operating profit rose by 34.8% to €1.7 billion, and the return on sales (RoS) reached 8.3% (6.4%). The most successful markets in terms of absolute growth in the first three quarters are Germany, Turkey, the United Kingdom, Poland, and France. The all-electric Enyaq remains one of the best-selling BEVs overall in key markets like Germany, where it also ranked first among electric cars in September. This result makes the Enyaq the second best-selling electric car in Germany in the first nine months of 2024. Škoda has solidified its position as the fourth best-selling brand in Europe. It aims to build on this success: the recently launched all-electric compact SUV, Elroq, stands out as the most affordable EV in its class, taking into account its extensive standard equipment and battery size. In a first for the brand, sales began immediately after its premiere.

In a year shaped by a persistently weak economic environment, more intense competition and political challenges, the Brand Group Core continues to concentrate in 2024 on successful model ramp-ups and execution of the performance programs in the various brands.

The Volkswagen Group expects deliveries to customers to be around 9 million vehicles (2023: 9.24 million vehicles). The company expects Group sales revenue to be around 320 billion euros (2023: 322.3 billion euros).

On October 30, 2024 the Volkswagen Group published the results for the third quarter 2024.