Audi trims 2026 revenue and margin outlook amid restructuring push

Audi announced on 27 July 2026 that its 2026 revenue guidance has been revised to a range of €58‑63 billion, down from the earlier minimum target of €63 billion. The operating‑margin outlook was also cut by one percentage point to a 5‑7 % range. The company kept its net cash‑flow forecast unchanged at €3‑4 billion for the full year.

The revision reflects a more challenging market environment, especially in China, combined with geopolitical escalation in the Middle East and softness in the United States. CFO Juergen Rittersberger said the pressures require “closer cooperation with the wider group to overhaul the business” and that Audi must “realign our business model and implement large‑scale structural improvements” together with the Volkswagen Group.

First‑half 2026 performance

Audi generated €29.17 billion of revenue in the first half of 2026, a decline of €3.40 billion from €32.57 billion a year earlier. Operating profit increased modestly to €1.12 billion from €1.08 billion, lifting the operating margin to 3.8 % from 3.3 %. The improvement was attributed to continued cost discipline, lower CO₂‑compliance provisions and reduced restructuring expenses.

Financial result after tax fell to €402 million from €593 million, with the China component dropping to €73 million from €279 million. Profit before tax decreased to €1.52 billion from €1.68 billion, and profit after tax came in at €1.12 billion, down from €1.35 billion.

Net cash flow for the half‑year rose sharply to €1,885 million, up from €904 million a year earlier. The increase was driven by positive working‑capital development; the prior‑year figure had been depressed by the acquisition of shares in Sauber Holding AG.

Restructuring and plant capacity

Rittersberger highlighted the Neckarsulm plant in southwest Germany as an example of ongoing restructuring. The plant, one of four Volkswagen facilities in Germany facing possible closure after 2030, has had its annual production capacity reduced to 225,000 vehicles, roughly 75,000 fewer than in previous years.

Market reaction

Volkswagen shares rose 1.6 % in early Frankfurt trading following the announcement.