Christian Horner admits Red Bull are not where they are want to be, but feels they have done "remarkably well" during the first half of the season.
Having won the four previous Championships, Red Bull have fallen off the pace this year and are playing second fiddle to Mercedes.
While their Brackley rivals have won nine races this season, Red Bull have done the best of the rest as Daniel Ricciardo tasted success in Canada as well as in Hungary last time out.
Team principal Horner believes his team have done very well considering the problems they have had with the new Renault V6 turbo engine.
"Compared to the theoretical handicap we have [with the engine], what we have actually achieved in the first half of the year is remarkable," he told Autosport.
"To have won two races, had front row starts, podiums, is a remarkable achievement, all things considered.
"Obviously, it's not where we are used to being but the team has shown real character to really dig in after a hideous pre-season and fight back.
"So there are an awful lot of positives we can take out of the first half of the year."