Audi Hungaria revenue edges higher in 2021

Automotive

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Revenue of the local unit of German carmaker Audi rose 2.6% to EUR 7.717 billion last year, while its after-tax profit fell one-third to EUR 332 mln, Audi Hungaria said, according to a report by state news wire MTI.

Audi Hungaria turned out 1,620,767 engines at its base in Győr (about 108 km northwest of Budapest) last year, 40,832 fewer than in 2020, while 171,015 cars rolled off the line, 15,858 more than a year earlier.

The company's capital expenditures came to EUR 162.6 mln last year, bringing the total Audi has plowed into Hungary to EUR 11.95 bln.

Audi Hungaria chairman Alfons Dintner said a large part of CAPEX was for electric motor production, including next-generation electric drivetrains. The first production line has been installed, and developments will continue this year, he added.

He said tool production capacity is also being expanded by 25%.

Audi is "concerned" because of the war in Ukraine, Dintner said, explaining that it gets cable assemblies for engines from Ukraine, which has required some shift changes in the area of engine production.

There are no customers that Audi Hungaria cannot serve at present, he added.

Audi's decision to halt exports to Russia will have a "modest" impact on Audi Hungaria as the share of the unit's total output delivered to Russia "is not dramatic", Dintner said.

Audi Hungaria board member Patrick Heinecke said the unit counted 78 Hungarian companies among its suppliers last year.

Board member Kinga Németh said Audi Hungaria has donated EUR 250,000 to Hungarian charities working to assist war refugees from Ukraine.

Audi Hungaria employed 11,983 people at the end of 2021, 243 fewer than 12 months earlier.

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