Audi 2007 Annual Report Download - page 166
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163
Cash flow statement
EUR million 2007 2006
Cash flow from operating activities 4,876 4,428
Cash flow from investing activities – 2,419 – 2,442
Net cash flow 2,457 1,986
Cash flow from financing activities – 582 – 202
Net liquidity 7,860 5,720
As of December 31, 2007, the Audi Group had other financial obligations amounting to
EUR 1,462 (1,520) million, mainly in the form of ordering commitments.
For further particulars, please refer to the Notes, Section 41, “Other financial obliga-
tions.”
Report on post-balance sheet date events
There were no reportable events of material significance after December 31, 2007.
Risk report
The goal of the Audi Group’s risk management system is to minimize or, if possible, avoid
the wide-ranging risks associated with entrepreneurial activity in order to safeguard the
Company against potential losses and against risks to it as a going concern. Entrepreneurial
risks are deliberately taken only where they are moderate and commensurate with the an-
ticipated benefit from that business activity.
A Company-wide risk management and early warning system is in place within the Audi
Group to actively monitor and steer risks. This covers AUDI AG and all subsidiaries from
which significant risks that could threaten the parent company as a going concern could
spread.
The tasks of risk management in the Audi Group are organized decentrally at the corpo-
rate divisions and subsidiaries. Integration into existing business processes helps to
promptly identify any risk-prone developments. All task areas as well as reporting and
documenting obligations for risk management are clearly defined and regularly monitored
to verify that the details on record are up to date.
Potential risks are identified through the risk management procedures, based on defined
spheres of responsibility. The same applies to compiling and implementing appropriate
methods of steering and supervision, as well as to ongoing monitoring of the effectiveness
of the measures taken to achieve the objectives.
Probabilities are estimated for all individual risks. The anticipated potential losses from
them are also quantified. The lost profit contribution and the costs incurred serve as the
metric for this purpose.
The Board of Management and the Supervisory Board are regularly informed of all sig-
nificant risks within the Audi Group.
The risk management
system within the Audi
Group