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Audi
2009 ANNUAL REPORT
Rethinking luxury.
A changing system of values:
inspiration for a new lifestyle

Table of contents

  • Page 1
    Audi 2009 ANNUAL REPORT Rethinking luxury. A changing system of values: inspiration for a new lifestyle

  • Page 2
    Audi Group Key Figures 2009 Production Cars Engines Deliveries to customers Audi brand Germany Outside Germany Lamborghini brand Other Volkswagen Group brands Workforce 1) Revenue EBITDA 2) Operating profit Profit before tax Profit after tax Operating return on sales Return on sales before tax ...

  • Page 3

  • Page 4
    1

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    2

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    3

  • Page 7
    PROLOGUE Purely subjective: Listen to what various people understand by luxury: www.audi.com/ar2009/quotes 4 Hand-lettering: Petra Beiße

  • Page 8
    Editorial 2009 was a year we will remember for some very particular reasons: It was the year we celebrated the 100th anniversary of the Audi brand. But it was also a year of attempting to stave off the worst of a global economic crisis. All employees of the Audi Group pulled together in a concerted...

  • Page 9
    ...car market average in several countries and enabling the Company to win important market shares. At the same time, the Audi Group recorded a very positive operating profit across all of the quarters under review and was thus one of the most profitable car manufacturers in the premium segment in 2009...

  • Page 10
    ... Financial Statements are thus established. There were no changes in the composition of the Company's Board of Management during the past fiscal year. " The Audi Group recorded a very positive operating profit and was thus one of the most profitable car manufacturers in the premium segment in 2009...

  • Page 11
    The Board of Management ULF BERKENHAGEN Purchasing FRANK DREVES Production PETER SCHWARZENBAUER DR. WERNER WIDUCKEL Marketing and Sales Human Resources

  • Page 12
    RUPERT STADLER Chairman of the Board of Management MICHAEL DICK Technical Development AXEL STROTBEK Finance and Organization

  • Page 13
    ...Le Mans, racing fans from all over the world camp right next to the race track and experience their heroes up close. PAGE 16 Let there be light LED is the light technology of the future. Light-emitting diodes are revolutionizing function and design in architecture, art and car manufacturing. PAGE 22...

  • Page 14
    ... Audi brand. PAGE 122 "The time must be ripe for a product" Axel Strotbek, Member of the Board of Management for Finance and Organization at AUDI AG, meets globalization expert Professor Franz Josef Radermacher. PAGE 126 The Audi Board of Management: Luxury to me is ...PAGE 130 Audi Group Finances...

  • Page 15
    ...Alexandre (right) and set designer JeanMichel Bertin needed to create artistic, almost poetic spaces. These spaces serve as stages for a special kind of fashion shoot: cars meet haute couture. Four young clothing designers crafted extravagant outfits to coordinate with four Audi models. The idea was...

  • Page 16
    ... meets inventors and other visionaries. For his report on the future of LED technology, he traveled to Ingolstadt. Once there, he was immediately caught up in the infectious enthusiasm shared by Dr. Wolfgang Huhn, Head of Light and Visibility at Audi, and lighting designer André Georgi. The 39-year...

  • Page 17
    Hand-lettering: Petra Beiße We are rethinking luxury. What does that have to do with space? Racing fans camping out experience motor racing close up at Le Mans. LEDs offer a wealth of new prospects. Young fashion designers interpret the current Audi models for us, thus creating a quite unique ...

  • Page 18

  • Page 19
    More space Right in the thick of things

  • Page 20
    ..., steering his sports car past London and onto the train through the Eurotunnel to France, then drove roughly 450 kilometers southward directly to his customary camping site close to the home straight, just like every June. Break from the business world: Brian Booth, a manager from Liverpool, enjoys...

  • Page 21
    More space Le Mans fever: Danielle Booth (right) and her friend Sophie cheer on the Audi pilots. Underscored by the roar of the engines, the short race night was very much to their liking. The number one topic of discussion: The newly developed Audi R15 TDI with a ten-cylinder diesel engine ...

  • Page 22
    Birds of a feather: The tent cities begin taking shape days before race weekend, with groups of fans - often acquainted from the previous year - setting up camp everywhere. Aficionado: James Blackhall used to spend his free time traveling the world. Today he's going camping with his friends at the ...

  • Page 23
    ...the must-see cars can be found this year. It has now been hours since the starting gun was sounded. The headlights and the glow of the red-hot brakes of the racecars light up the asphalt. The Audi R15 TDI models are particularly easy to spot thanks to their LED lights. The Ingolstadt company now has...

  • Page 24
    ..., they spent their youth traveling the world together; today most are over 40 and travel together once a year to Le Mans. Blackhall is the CEO of a valve manufacturing company and father of five. His friend Rupert works on the stock exchange. "No schedules, no deadlines, no pres- sure - Le Mans...

  • Page 25
    More space Let there be light Can luxury be measured with a luxmeter? It certainly can in the case of LEDs. Light-emitting diodes shine wherever design enters the realm of the futuristic. The tiny crystal lamps open up completely new and interactive design possibilities, and that's with a fraction ...

  • Page 26

  • Page 27
    ... Arto, architects: Philippe Samyn & Partners, M & JM Jaspers - J. Eyers & Partners Hediger Light Engineering (pages 22 and 23) The office complex modeled on a geyser changes its face at night. Dynamic patterns of colors running over the outer skin symbolize the elements fire and water. TORRE AGBAR...

  • Page 28
    ...Quick image rm/f1-online, architect: Jean Nouvel, b720; Boening/Zenit/laif (pages 24 and 25) ARS ELECTRONICA CENTER, LINZ LEDs for a digital spectacle: The interactive installation "Lights On!" creates impressive color spaces where spherical computer-generated music is coupled with pulses of light...

  • Page 29
    ECO-INNOVATION LED lighting as in the Audi Sportback concept uses nearly two-thirds less energy than conventional halogen lights.

  • Page 30
    ...Photos: AUDI AG tecture the world over in recent years, particularly when it comes to lighting concepts that stray from the beaten path. The wide color palette of LEDs allows for extraordinary color accents; their small size and low maintenance requirements open up new possibilities in design. The...

  • Page 31
    ...demonstrates the structure and function of the latest-generation full LED headlight with 76 LED light sources in his research laboratory. Technically impressive, highly aesthetic and a textbook example of an eco-innovation, as LEDs are hard to beat when it comes to energy efficiency. A car equipped...

  • Page 32
    ...as the dynamic headlight range adjustment or cornering lights because they also enable complex lighting functions in the tightest of spaces. The Audi brand taps into the potential of the new, increasingly powerful LEDs to turn its vision of intelligent light into reality. Currently in development is...

  • Page 33
    A class act Winning by a hair really isn't his thing. He wants to win by a ten-minute lead: Rally legend Walter Röhrl about an iron will and the good fortune of having turned his passion into his career.

  • Page 34
    ... me in 1984 to switch to Audi. Up to that time I had driven cars with rear-wheel drive for 20 years. Then I succumbed to the fascination of all-wheel drive. Converting the enormous propulsive forces into motion, that was the special quattro feeling. Just a small touch on the gas pedal sufficed to...

  • Page 35
    More space worked together very closely. As a case in point, a test engineer was assigned to me whose responsibility was entirely dedicated to product improvements. It also helped that our communication paths were very short. I was living in Regensburg, barely an hour's drive from the plant in ...

  • Page 36
    ... car manufacturer to win the German Touring Car Masters (DTM) three times in a row. As in the previous season, Audi driver Timo Scheider left all the other challengers in the dust. "What better way for Audi Sport to mark the centennial year of the Audi brand," remarked Board of Management Chairman...

  • Page 37
    More space * Marie Hill Rita Grave Viktor Smedinge Daniel Lee ** A1 A8 A5 Sportback* A3 Cabriolet * * Fuel consumption and emission figures at the end of the Annual Report

  • Page 38
    dress up* your car** They own the catwalks of the future, he is a master of staging. Graduates of London's famous Central Saint Martins College of Art and Design have interpreted the character of the latest Audi models. French photographer Grégoire Alexandre adds a further dimension to both autos ...

  • Page 39
    A1 dressed up by Marie Hill / Futuristic metro look: the birth of a new simplicity.

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    37

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  • Page 42
    A8 dressed up by Rita Grave / The ultimate drive: lightness and elegance are in the air. 39

  • Page 43
    40

  • Page 44
    A5 Sportback* dressed up by Viktor Smedinge / Street couture: clean lines and contours give direction. * Fuel consumption and emission figures at the end of the Annual Report

  • Page 45
    A3 Cabriolet* dressed up by Daniel Lee / The principle of passion: looking ahead with self-confidence, esprit, style and flowing forms. 42 * Fuel consumption and emission figures at the end of the Annual Report

  • Page 46

  • Page 47
    ... The 27-year-old garnered a name for herself among young designers long ago. In 2009, she won the "L'Oréal Professional Young Designer of the Year" award, among others. Audi in Ingolstadt introduced the young Dane, who doesn't even have a driver's license, to a completely new world. Therein lies...

  • Page 48
    CARS MEET FASHION Film shoot in Ingolstadt - interview with the young designers at: www.audi.com/ar2009/fashion four cars "The accentuated seams are reminiscent of the lines of the A5 Sportback." "I wanted my outfit to capture the motion of the A3 Cabriolet." Photos: private, Alisa Ferris, ...

  • Page 49
    More space

  • Page 50
    ...summer of 2009. Rupert Stadler, 46 and a business management graduate, has for three years been at the helm of the successful Audi company, which he likes to describe as a "rough diamond." Both assumed control of valuable yet complicated legacies. The financial crisis, globalization, shifting values...

  • Page 51
    ... up those same companies before expanding production and sales channels to conquer one new global mar- spending it, yet increasingly want to know what they're truly getting in return - which quality, which values, which pledge," explains Brioni's head. "Luxury, in our eyes, means uniqueness and...

  • Page 52

  • Page 53
    .... People there who can afford these vehicles have a chauffeur to drive them around." The remarkable dynamics of Asia's new markets present Audi and Brioni alike with challenges. "Just three or four years ago, we were selling 60,000 vehicles a year in China. We're now up to 160,000 annually; every...

  • Page 54
    ... meet with board members and a government official. "We'll open a store in Düsseldorf this fall. You'll visit us then at the latest to get fitted, right?" says Andrea Perrone. Stadler smiles and replies: "And next week I'll make sure you get an R8 for a few days to test drive." Business journalist...

  • Page 55
    More space Small T retreats From New York to Munich to Kyoto, major cities around the globe grant themselves the luxury of maintaining gigantic parks right in the middle of the city. The green sanctuaries help satisfy the yearnings of urban dwellers for nature and calm. COPY/STEFAN NINK ...

  • Page 56
    ... of the Big Apple, Central Park, is its soul. enough spends additional hours on public transport before and after), it's the best place in the world for taking a time-out. There are said to be New Yorkers - and there are, in fact, New Yorkers - who have never laid eyes on any piece of nature other...

  • Page 57
    ... slow the world down to normal speed. To break away from the hectic pace of meetings, video conferences and text messages long enough to enjoy a cup of cappuccino. To meditate. To tune out. Other major cities also afford themselves a green sanctuary like Central Park, in order to do something good...

  • Page 58
    ...This is also one of the world's famous city gardens, and moreover was one of the first to be opened to the public at the end of the 18th century. Its popularity has continued to this day, with thousands of Munich residents taking advantage on beautiful late-summer days. Sitting there, with shoes and...

  • Page 59
    More space Ryoan-ji Garden KYOTO Hojo (abbot's quarters) Wabisuke camellia trees Stone water basin Zorokuan teahouse West Garden Buddha Hall Zen rock garden Kuri (priest's quarters) Chokushi-Mon Gate Kyoyochi pond Sanmon (main gate) 56

  • Page 60
    ... toward both its German home and its employees. 'German engineering' continues to be highly valued around the world. But 'made in Germany' Photo: AUDI AG alone would lead us into a dead end. We have to ensure that profitable production will continue to be possible in our country. This makes it...

  • Page 61
    SONU SHIVDASANI The entrepreneur with Indian roots, who grew up in Europe and Africa, today lives mostly in the Maldives and in Thailand.

  • Page 62
    ... is the best salad they ever had. People want to feel the product, rather than just consuming it. This is why direct contact " leading a rather stressful life in a fast-changing world. In this situation, new things matter: Suddenly, space is luxury. Or let's stick with the topic of environment and...

  • Page 63
    .... Take Toronto in winter: People there spend all their time inside, so they have no exposure to fresh air at all. Therefore, space is important for them. Business people in China or India live in crowded cities. And you know what our guests from India appreciate most? A clear view of the sky. Due to...

  • Page 64
    ... philosophy had a real impact, and if we could show the world what the SLOW LIFE concept can do. SONU SHIVDASANI is founder and CEO of the hotel management company "Six Senses Resorts & Spas." His company develops, builds and manages luxury resorts and spas primarily in Asia. Shivdasani is the son...

  • Page 65
    More space A reflection of his culinary philosophy: Michelinstarred chef René Redzepi focuses on the essentials both in and away from "Noma," his eatery in Copenhagen.

  • Page 66
    Less is more More and more top chefs are developing an appetite for a new, down-to-earth form of cooking - and are elevating simplicity to an art form. Instead of lobster, foie gras and truffles, they are putting pumpkin soup on the menu. 63

  • Page 67
    ... of its home country. The gourmet branch of the tire manufacturer has been awarding its legendary stars since 1926, according to the same time-honored model, as a guide to motorists with a penchant for fine food: Three stars means a restaurant is "worth the trip," two stars means "worth a detour...

  • Page 68
    Paving the way for a new Nordic cuisine: René Redzepi (below), from Denmark, believes in doing a lot by hand and using local products.

  • Page 69
    ... tradition up to date" - and if that means using bacon, flat bread, and smoked meats as key ingredients, then so be it. Hintner knows full well that "it is illusory to believe we can cover all our requirements just by buying produce from the nearest farm." The "quest for a soul in our globalized...

  • Page 70
    ... E DT An ever greater number of people are taking time out from the hustle and bustle of everyday life and work. Some even choose to leave their old life behind them forever. With great personal commitment they make use of the new found freedom to make the world that little bit better. Others focus...

  • Page 71
    ...mankind doing enough to stop climate change? C: Of course not. In early 2009 I was on an expedition to the geographic North Pole. We walked across the ice for 700 kilometers, on the legendar y route taken by the North Pole explorer Robert Pear y exactly 100 years ago. In another 100 years it will no...

  • Page 72
    ... something different on my land each year. I often travel to America or Eastern Europe to do research, to look for old varieties on farmers' markets. You also run tasting events? S: Yes, I do. And many people actually have tears in their eyes when they experience the flavor of a tomato that seems...

  • Page 73
    ... but to remind him "that I come from a family in which public service forms an integral part of our upbringing." Unusually for a Kennedy, the 44-year-old is not pursuing a career in politics. Since 1989 he has, instead, been running "Best Buddies," whose aim is to integrate people with intellectual...

  • Page 74
    ... the model of the farm, Karl Ludwig Schweisfur th glances at the fields with their small h e d g e ro w s , t h e re d - b r i c k b a r n s a n d t h e e n c l o s u re housing plastic pigs and cows side by side. "Isn't this beautiful?" asks the 79-year-old, who for 25 years now has been working at...

  • Page 75
    ...overcrowded city, you are never alone. You have to share the limited space there is with the other workers and hardly have any privacy at all. It's not easy, but the unity and sense of togetherness can certainly be a help when times get hard. I learned so much on the farm - and I don't just mean how...

  • Page 76
    ...began 30 years ago. I was eight years o l d a n d f a s c i n a t e d b y t h e s t ra n g e s o u n d s a n d v o i c e s o n t h e r a d i o k n o w n a s ro c k ' n ' ro l l , a s I was to find out later. In my adult life, I have paid numerous visits to the States: traveling by car, flying across...

  • Page 77
    ... convent for over a year now and I miss all the oppor tunities that I had in London: I miss being in touch with other artists. And I miss drawing: people, donkeys, parrots. Most importantly, however, I am today in a position to put what I learned into practice. Right now, I am working on a mural for...

  • Page 78
    ... trying to save the world - by buy- ing part of it. He was primarily driven by the idea to purchase primeval forest in order to make it inaccessible for timber groups. He initially considered Canada, the United States and Norway, but then opted for Chile and Argentina. "I want to put a stop to this...

  • Page 79
    ...We are rethinking luxury. What does that have to do with time? Anyone who leaves time for their senses will 'see' the world through new eyes. For a doll carver in Prague, every second spent at work is a moment of self-fulfillment. In the Audi Youth Choir Academy, young people discover their voices.

  • Page 80

  • Page 81
    Economic (r)evolution An environmental foundation established by Audi is working to protect the resources needed for the survival of humans, animals and plants. As evolutionary economists know, industry can also learn from nature.

  • Page 82
    .... Diversity also promotes innovation in economic systems. The application of evolutionary economics is known as diversity management. "The more diverse the members of a group are, the more effectively they can tackle a challenge," says Herrmann-Pillath. For this reason, teams should consist of...

  • Page 83
    ...can see, hear, feel and smell. To me, sophistication is emotion. Not empty words, but a true mindset. We at Audi build cars with utmost precision for people who experience them with all of their senses - without compromise." Frank Dreves, Member of the Board of Management for Production, AUDI AG 80

  • Page 84
    ... DESIGN ART Designer Tom Dixon created the "Light Light" installation exclusively for the world premiere of the A8. Leading-edge design as a new art form Photos: AUDI AG Audi presented its flagship, the new Audi A8, at the very heart of the "Art of Progress" exhibition in Miami Beach. The brand...

  • Page 85
    ..., American actor in As was Tom Dixon. The London-based designer created "O.C., California" an impressive structure for Audi consisting of 159 aluminum lights and silver liquid lame fabric with weighted helium and hanging air balloons inside. "Light Light" is, as it were, the lightweight version of...

  • Page 86
    ... the world's leading art dealers representing established artists and emerging talent alike. Design Miami/, which took place for the fifth time in 2009, is held parallel to the art fair. Audi is the exclusive auto sponsor of both trade fairs and also an exhibitor. The Audi Pavilion with the special...

  • Page 87
    ... to questions of mobility in the cities of the future, to questions of fuel consumption and potential drive systems. New drive systems, for example, lead to changes in vehicle architecture which we can explore in design experiments. Hartmut Esslinger: The design processes differ relatively little...

  • Page 88
    More time Two creative minds on the same wavelength: Audi Group design chief Wolfgang Egger (left) and Hartmut Esslinger, the founder of "frog design," share an enthusiasm for simple and authentic designs.

  • Page 89
    ...65, has shaped the modern world of consumer goods like no other. His more than 40 years of experience as a designer flowed into the 2009 book "A Fine Line: How Design Strategies Are Shaping the Future of Business." The most important theses: To be successful as an innovative brand, design must be an...

  • Page 90
    ...his people work " We Audi designers are interested in creating dreams by making cars an extremely emotional experience." Wolfgang Egger, Audi Group design chief on innovative vehicle concepts as well as projects that have nothing to do with the car business. The Audi design team has designed skis...

  • Page 91
    ... everyday use remains a long one. Audi engineers, technicians, designers and economists are working on the subject at the e-performance project house. Suppliers are also involved. The e-tron sports car concept marks the first step. s are Side mirror Attention: dynamics. ro ae to h deat D : Install...

  • Page 92
    ... end of the work day into a "secret war room" with other managers. The room is so secret that only the participants know if they have to leave the plant to get there. Once there they get down to the serious business: electrically powered cars. Electricity has been a powerful topic for years at Audi...

  • Page 93
    ...of vehicle weight has a noticeable and adverse effect on the supply of energy on board and thus reduces the range. After all, the Group has a long tradition of lightweight construction with the aluminum Audi Space Frame, and this tradition is being carried on by the Audi Lightweight Design Center in...

  • Page 94
    ... are currently hard at work on hybrid versions of the A8 and Q5, and also our fully electric Audi e-tron. However, an electric drive system comes at the cost of substantial additional weight. In order to nevertheless provide the dynamics and efficiency typical of Audi, we cut this weight from other...

  • Page 95
    ... a subdued whistle hardly louder than when a computer fan is switched on. At higher speeds the only sounds are the rolling noise of the tires or the tempestuous rush of the slipstream. There's no multi-cylinder V engine screaming under the sloping rear hatch of the vehicle - the heart of this car is...

  • Page 96
    ...light. Although the e-tron units in existence already have a decidedly sporty character, the developers still have a long way to go. The car is scheduled to go into series production in 2012. Photos: AUDI AG, istock photo Automotive journalist Michael Kirchberger enjoyed the test drive in the Audi...

  • Page 97
    ... silicon Business Infrastructure 64,187 Life Sciences 33,311 Information Products & Services 285,614 Innovation & Specialized Services 152,218 Other Manufacturing 66,381 Green Product Producers & Service Providers estimated: over 10,000 Source: Special Analysis 2009, Silicon Valley Index, jobs...

  • Page 98
    ... is working together with the ERL on navigation systems which aim to reduce emissions and fuel consumption without significantly extending driving time. Barth has developed an algorithm that processes consumption data from 15 years of laboratory tests with current road information. The program can...

  • Page 99
    smell A forest in which we smell: oxygen, wood, resin, leaves, moss. Over all this hovers the fine scent of fresh leather - impressive.

  • Page 100
    More time Chasing the senses Seeing, smelling, hearing, feeling, tasting - above and beyond ecology and economy, driving a car is primarily a sensual pleasure. Test driving the new R8 Spyder* we set out for Galicia in northern Spain. * Fuel consumption and emission figures at the end of the Annual...

  • Page 101
    hearing

  • Page 102
    More time In the tunnel, the 343 meters per second of the speed of sound battle it out against the 313 km per hour of the R8 Spyder*. We listen closely. Is there a winner? One reason for trying to beat it. * Fuel consumption and emission figures at the end of the Annual Report 99

  • Page 103
    taste

  • Page 104
    Blurred becomes clear. Salty kisses from mermaids, even though the bay is 20 meters below us. We taste the waves, our mouths dry with amazement. 101

  • Page 105

  • Page 106
    More time touch The feeling of security and acceleration as if touching the world for the very first time. With your hands and whole body. Unobtrusive power mixed with a powerful lightness. 103

  • Page 107
    sight Seeing time as if it were the reflections of stars in the paintwork. Glances fall like theater curtains on the design of the R8 Spyder*. Fixed gazes, not fleeting. * Fuel consumption and emission figures at the end of the Annual Report

  • Page 108

  • Page 109
    ... a short space of time. Leave the loud, garish city with its permanent sense overkill, head for the even, rhythmical sound of the ocean, through dark forests to the shimmering green heartland, past rusty red cliffs on the way to deceptive silent peaks. Stop. Switch off the engine. The open-roof R8...

  • Page 110
    ... of the Audi TT sculpture. The ten ton structure, built upon a steel frame, has adorned the center of the Audi roundabout, a road junction very close to the Ingolstadt plant, since July 2009, where it aptly symbolizes the company's strong ties to the city and the region. The over-sized design icon...

  • Page 111
    New German Wave The Web 2.0 generation hits the right note. Anyone who makes it into the Audi Youth Choir Academy is given artistic polish. Preconditions are natural talent, a love for classical music and the willingness to work hard. COPY/ JAKOB SCHRENK PHOTOS/ URBAN ZINTEL 70 voices become one. ...

  • Page 112
    ... piano this week," Clara pleads. "Please. Just another ten minutes." The corners of Steidler's mouth twitch as he tries very hard not to smile. Any choir director who is unable to stop his students from practicing for even two hours can count himself a happy man. "It is incredibly fun working here...

  • Page 113
    ... doctoral thesis in sociology. Cool not crazy: Choir director Martin Steidler is enthralled by 19-year-old Quirin Würfl's deep, mellifluous voice and love of music. other hand, is about "a willingness to work hard," says Steidler, as well as talent and a deep passion for music. The choir director...

  • Page 114
    ... Dimensions of luxury: taking time, creating space 01/"Design Oscar" for A5 Coupé Audi remains the design pioneer in the automotive sector. The A5 Coupé* became the fourth Audi model to win the coveted "Design Award of the Federal Republic of Germany 2010" (October 23, 2009). Few awards are more...

  • Page 115
    A striking color for a supercar: Lamborghini presents its new Gallardo top model, resplendent in Verde Ithaca. On the move: The new Superleggera's front fenders are even more flared than before. Reversing the weight spiral: The interior has also been slimmed down considerably.

  • Page 116
    ...570-4 Superleggera*, Lamborghini has indulged in the luxury of absolute purism - thanks to the use of carbon fiber, the new top model from Sant'Agata Bolognese weighs an impressive 70 kilograms less than the basic version. * Fuel consumption and emission figures at the end of the Annual Report 113

  • Page 117
    ...the seats, but the two-seater is by some distance the most successful model in the Italian brand's 47-year history. It has permanent all-wheel drive and features an aluminum space frame. But to achieve a weight reduction of 70 kilograms for the new lightweight version, the car had to go on a radical...

  • Page 118
    ... delivers a spectacle of sound that will bring tears to the eyes even of die-hard sports car fans - bella macchina, as the Italians would say! Matthias Pfannmüller is an editor for the Swiss motoring journal Automobil Revue. He is currently also working on a chronicle of Lamborghini. 115

  • Page 119
    ... company office is located. "Our people ride far out to sea for four or sometimes five hours," says Larson. They only return at night, sometimes as late as three in the morning. "That's the moment of truth: when the guys dock and open the hatches. It's only then that I know whether we've had a good...

  • Page 120
    Mehr Zeit REALM OF FANTASY In his Prague studio Pavel Truhlár ˇ makes marionettes. Every puppet is unique. His love for detail is rewarded with special orders from all over the world.

  • Page 121
    ... of the parts were machine-made," he recalls. This aroused his ambition: There should be a better way than that! He had always been good at handicrafts, so he decided to change jobs: The salesman turned into the artist, the employee became the boss of his own business. "In the early years I'd sit in...

  • Page 122
    ... across Europe in nine days. From Ã... to Bee. The participants on this tour from Norway to Italy include 120 international journalists and Audi customers from Germany. The Audi brand's goal is to prove the efficiency of its vehicles. The tour therefore includes not only those versions of a model line...

  • Page 123
    ... go. Our new models have been designed with a focus on the Audi driver's personality. For styling the interior of the A1, for example, customers have a wide range of options for customizing their car. And after buying the car, they can still get the latest updates for the infotainment system. In the...

  • Page 124
    ... China FAW Group Corporation. The long-wheelbase version of the A4 and the Q5 are built in this hall, which has a floor area of around 82,000 square meters. The assembly plant meets the requirements of the standardized worldwide Audi Production System: As well as the manufacturing process itself...

  • Page 125
    VISIONARY A life dedicated to mobility: Born on October 12, 1868, August Horch built his first automobile in 1901.

  • Page 126
    ... years. And I did the driving - without a driver's license. In fact, I never even took the test (laughs). What we learned from that experience was immediately translated into new designs. Just think how many innovations from the world of motor sport have found their way into production models...

  • Page 127
    ... the success of the individual employee. And it shores up the prospects for Audi to develop for future generations, too. Social responsibility and corporate success thus become inseparably linked." Dr. Werner Widuckel, Member of the Board of Management for Human Resources, AUDI AG So do you think...

  • Page 128
    ... it was time for Audi to say thank you to its employees: The Audi workforce at Neckarsulm celebrated 40 years of the Neckarsulm plant, while over on the Danube the spotlight was on 60 years of Audi in Ingolstadt. 02/ Meeting of generations How better to mark a centenary than with the cars that made...

  • Page 129
    One is an advocate for global responsibility, the other a manager with financial responsibility for a company: Professor Franz Josef Radermacher (right) and Axel Strotbek at the Audi Forum at Munich Airport. 126

  • Page 130
    ... be ripe for a product" Axel Strotbek, Member of the Board of Management for Finance and Organization at AUDI AG, meets Professor Franz Josef Radermacher. A renowned mathematician, economist and polymath, Radermacher advances the case for a worldwide socio-ecological market economy. From the rear...

  • Page 131
    ... been driven primarily by short-term returns. This appears to me to stem from the very nature of the products they make. An automobile is a long-life product. The value of such a company depends not on its current market capitalization, but on its cars and brand name. A manufacturer that builds 128

  • Page 132
    More time Winning streak: Audi is increasing its long-term brand value with examples of innovation such as the new A8.* great cars knows very well that its cars are the embodiment of its real value added. It assumes responsibility for that product and establishes a brand value. That takes decades ...

  • Page 133
    ... passion every day in my job. Michael Dick, Member of the Board of Management for Technical Development, AUDI AG ...spending time together with my family and friends. Frank Dreves, Member of the Board of Management for Production, AUDI AG ...having colleagues who I work together with in friendship...

  • Page 134
    ... Financial Statements of the Audi Group at December 31, 2009 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements Development of fixed assets in the 2009 fiscal year Development...

  • Page 135
    ... Volkswagen Group brands through its sales subsidiaries. Group structure and principal group companies The headquarters of the Audi Group are located in Ingolstadt, where Technical Development, Sales and Administration as well as the bulk of vehicle manufacturing operations are based. The range...

  • Page 136
    ... also be the sole production plant for the new Audi A1. In addition it built the VW Polo until the end of 2009 on behalf of Volkswagen AG (Wolfsburg). AUDI HUNGARIA MOTOR Kft. develops and builds engines for AUDI AG, other Volkswagen Group companies and third-party companies in GyÅ'r (Hungary). In...

  • Page 137
    ... Volkswagen AG and AUDI AG, as well as between AUDI AG and its principal German subsidiaries. There have been no significant changes to the Audi Group since December 31, 2008. FULLY CONSOLIDATED COMPANIES WITHIN THE AUDI GROUP AUDI AG AUDI BRUSSELS S.A./N.V. AUDI HUNGARIA MOTOR Kft. Automobili...

  • Page 138
    ... is therefore the mission statement: "We delight customers worldwide." What this means in practice is that the brand with the four rings offers its customers innovative and emotional products - highly efficient Audi models providing an unmistakable product experience - that are particularly noted...

  • Page 139
    ... fully owned subsidiary in China, its most important international market, to serve as an umbrella organization for all its activities there. A new assembly hall was also erected at the Chinese production plant in Changchun. The Audi Group furthermore has local manufacturing operations in India; the...

  • Page 140
    ... attractive working conditions, challenging tasks, commensurate pay and high job security. The Audi Group took the opportunity to thank all its employees for their commitment and hard work by holding anniversary celebrations at the Ingolstadt, Neckarsulm and Brussels plants in the fall of 2009...

  • Page 141
    ...012 points in December. Germany's lead index closed 2009 on 5,957 points, thus showing an improvement of 24 percent over the end of the previous year. Audi trading price trend Audi shares were unable to buck the general downward trend on stock markets worldwide at the start of the year. The shares...

  • Page 142
    ...of the German Commercial Code (HGB): 132 132 134 137 139 140 140 Management Report Audi Group Structure Strategy Shares Disclosures required under takeover law Corporate Management declaration System of remuneration for the Supervisory Board and Board of Management Business and underlying situation...

  • Page 143
    ... development of various emerging economies in Asia, Latin America and Central and Eastern Europe. Far-reaching stimulus programs and the expansive monetary policies adopted by many countries then stabilized the economic situation as the year progressed. By the end of the year, the global economy...

  • Page 144
    ...140 Audi Group Structure Strategy Shares Disclosures required under takeover law Corporate Management declaration System of remuneration for the Supervisory Board and Board of Management Business and underlying situation Economic environment Research and development Procurement Production Deliveries...

  • Page 145
    ... by German car manufacturers in 2009. The production volume of 5.0 million passenger cars was 10.3 percent down on the prior-year figure. The number of German-brand cars built abroad was down 8.3 percent on the previous year at 4.8 million units. Management's overall assessment The global economic...

  • Page 146
    ... German President Horst Köhler is patron ("Germany - Land of Ideas," August 27, 2009). The award-winner was the "Travolution" traffic research project in which AUDI AG participated along with the City of Ingolstadt, the Chair of Transport Technology at the Technical University of Munich and systems...

  • Page 147
    ... adaptive MatrixBeam, which is currently still in the advance development phase, therefore extends the Audi Group's lengthy tradition of innovative lighting technology. Innovations for more safety Night vision assistant When driving in the dark with low beams, a driver can only identify pedestrians...

  • Page 148
    ...prototype of a car-2-X communication system, which for instance helps to improve the traffic flow and therefore further reduce energy consumption. A prototype of the Audi e-tron already became available for test drives in December 2009 and a small number will come onto the market at the end of 2012.

  • Page 149
    ... materials are also part of the equation. The Logistics Center, an industry park in the immediate vicinity of the Ingolstadt plant, currently serves as the base for over 20 external operators that supply AUDI AG with a wide range of products and services related to car production. The arrangement...

  • Page 150
    ... had a positive effect. The Audi Group built 278,096 (327,296) cars at the Neckarsulm plant in the past fiscal year. Activities there focused on the successful volume production starts of the A5 Cabriolet and S5 Cabriolet, and of the new A8. Currently the most advanced press shop in Europe was also...

  • Page 151
    ... FAW Group Corporation (Changchun, China), AUDI AG opened a new assembly hall at the Chinese production plant in Changchun in fall 2009. The long-wheelbase version of the Audi A4 and the Audi Q5 are now built there to the same high standards that apply throughout the Audi Production System worldwide...

  • Page 152
    ... customers. The Audi brand's share of the premium import market thus rose to 8.3 (7.1) percent by year-end. 132 140 140 143 146 147 149 153 157 168 177 Management Report Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and...

  • Page 153
    ... year by unveiling numerous new products. A3 car line The A3 1.6 TDI and A3 Sportback 1.6 TDI models were added to the product range in the premium compact class in June 2009. Since February 2010 the 1.6-liter TDI engine, which develops 77 kW (105 hp), has been available as an additional version...

  • Page 154
    ... A4 2.0 TDI e Sedan one of the most efficient in its category. The Audi A4 3.0 TDI clean diesel quattro and the Audi A4 2.0 TFSI flexible fuel were unveiled to the public at the Frankfurt Motor Show (IAA) in September 2009. The A4 3.0 TDI clean diesel quattro means that what is currently the world...

  • Page 155
    ... model in the Audi range blends alluring sportiness with superb comfort and innovative technology. The A8, based on a lightweight aluminum body using the Audi Space Frame construction principle, is available with a wide array of optional driver assistance systems and has a newly developed MMI...

  • Page 156
    ... in the period under review. Supercars of the Lamborghini brand The Italian supercar manufacturer Lamborghini was also affected by the crisis on car markets worldwide in 2009. The total number of deliveries was therefore down on the previous year's record figure at 1,515 (2,430) vehicles. In all...

  • Page 157
    ... that revenue for the Lamborghini brand was below the previous year's high figure. In addition to models of the Audi and Lamborghini brands, the Audi Group sells vehicles of the Bentley, SEAT, Å koda, VW Passenger Car and VW Commercial Vehicle brands through the sales subsidiaries VOLKSWAGEN GROUP...

  • Page 158
    ...177 Management Report Audi Group Business and underlying situation Financial performance indicators Financial performance Net worth Financial position Social and ecological aspects Risks, opportunities and outlook Disclaimer The Company's healthy cost structure and sustained high profitability are...

  • Page 159
    ..., the Audi Group, as in previous years, managed to finance capital investments entirely from its own resources and also generated a surplus. This development is impressive evidence of the Company's consistently strong financial position. The net liquidity of the Audi Group on December 31, 2009 of...

  • Page 160
    ... Average for the year Domestic companies of which: AUDI AG Ingolstadt plant Neckarsulm plant Foreign companies of which: AUDI BRUSSELS S.A./N.V. AUDI HUNGARIA MOTOR Kft. Lamborghini Group 1) VOLKSWAGEN GROUP ITALIA S.P.A. 2) Employees Apprentices Employees of Audi Group companies Staff employed from...

  • Page 161
    ... actively took measures designed to protect jobs in 2009, such as short-time and insourcing at the Group locations in Germany, Hungary, Belgium and Italy. Employer and employee representatives at AUDI AG joined the other Volkswagen Group companies in passing a "Working Relationships Charta" in 2009...

  • Page 162
    ... Department and in the Company in order to get to know the world of work at AUDI AG better. AUDI AG launched the "Promoting Top Employees" program during the year under review. It is designed to assist employees of the Company who wish to embark on a technical or nontechnical further training...

  • Page 163
    ..., body manufacturing, automation technology, resistance spot welding, paint mixing processes and logistics. AUDI AG has now assigned a member of the Production Division to take charge of the new field of expertise at the university. AUDI GROUP PARTNERSHIPS WITH UNIVERSITIES Ingolstadt location INI...

  • Page 164
    ... plants are moreover accredited under the worldwide DIN EN ISO 14001 standard. As a subsidiary of the Audi Group, the Lamborghini location Sant'Agata Bolognese has also held the EMAS signet and been in possession of DIN EN ISO 14001 certification since April 2009. AUDI HUNGARIA MOTOR Kft...

  • Page 165
    ... Group. The signing of the new district heating contract for the Ingolstadt plant in fall 2009 means that the amount of waste heat from neighboring industrial enterprises being used is set to continue rising. Another example of how resources can be used more efficiently is the adoption of innovative...

  • Page 166
    ... in Ingolstadt. A second test site of more than 13,000 English oaks has already been planted at the GyÅ'r location in Hungary. Plans are currently being made for additional sites at international Audi Group locations. Management Report 132 140 153 157 157 159 160 163 168 177 Audi Group Business and...

  • Page 167
    ... TDI quattro with 174 g CO2/km Launch of start-stop system and driver information system with efficiency program Launch of TDI clean diesel Audi Efficiency Challenge A to B Launch of Audi A4 2.0 TDI e, one of the most efficient midsize sedans Test drives with Audi e-tron Vienna-Basel efficiency run...

  • Page 168
    ... stop & go function LED daytime running lights Driver information system with efficiency program Management Report 132 140 153 157 157 159 160 163 168 177 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Employees Audi in society Location...

  • Page 169
    ... fuel consumption. Because fuel economy can vary by as much as 30 percent depending on a person's driving style, the driver information system with efficiency program is a useful way of cutting consumption. TDI clean diesel In 2009, the Audi Group launched what is currently the cleanest compression...

  • Page 170
    ...B 2009" confirmed that high efficiency comes standard with all automobiles of the Audi brand. A total of 20 vehicles, comprising pairs of technically identical models, took part in the efficiency run in a competition to see who could clinch the best daily fuel consumption figures. The route covering...

  • Page 171
    ... flow of information to management personnel and the Board of Management. Integrated internal control and risk management system for the financial reporting process The internal control process for financial reporting purposes for the Financial Statements of AUDI AG and the Audi Group comprises...

  • Page 172
    ... the conducting of examinations both in Germany and abroad. Group Accounting at AUDI AG started to use the Volkswagen Consolidation and Corporate Steering System (VoKUs) in 2009 in close consultation with Volkswagen AG (Wolfsburg). Planning functions are currently being added to it. The purpose...

  • Page 173
    ... the price of oil could lead not just to higher production and energy costs for the Company but also to rising fuel costs, which would make customers more reluctant to buy cars. The Audi Group has already taken early action by making ongoing efficiency improvements across the entire model range. One...

  • Page 174
    ... been observed. This development may result in price erosion and higher marketing costs particularly in the Audi Group's key sales regions of Western Europe, the United States and China, which would in turn adversely affect the Company's revenue and earnings performance. The pricing practices of the...

  • Page 175
    ...third-party companies. The Audi Group is substantiating its status as an innovative manufacturer of premium vehicles by gradually broadening its product range and entering a large number of new product segments. It not only plans meticulously, but also commissions numerous market studies to underpin...

  • Page 176
    ...models for the individual's working life and special part-time arrangements. Other priority areas include preventive health care and strengthening employee awareness about taking responsibility for their own financial future. Management Report 132 140 153 157 168 168 174 174 177 Audi Group Business...

  • Page 177
    ... previous year. In India, too, the economy is expected to continue expanding energetically. Japan, on the other hand, will only manage marginally positive economic growth following the deep recession in 2009. The car industry Based on the slow recovery of the global economy, the Audi Group believes...

  • Page 178
    ... important growth market India, too. The sales and dealer network will be further expanded in 2010. The active marketing of efficient engine technologies in particular will help the Audi brand to boost its U.S. market share further. Models such as the Audi Q7 3.0 TDI clean diesel launched last year...

  • Page 179
    ... sources of financing. The current plans for the next two years envisage a clearly positive cash flow from operating activities. The cash used in investment activities will exceed the 2009 figure as the longer-term model initiative continues. The Audi Group will end 2010 with a similarly high level...

  • Page 180
    ... in the process. For the 2010 fiscal year and beyond, the Company anticipates that there will be a slight recovery in worldwide demand for cars. However, the situation is expected to remain stagnant or deteriorate particularly in European markets now that state aid programs are coming to an end. The...

  • Page 181
    ...Consolidated Financial Statements of the Audi Group at December 31, 2009 Income Statement of the Audi Group EUR million Revenue Cost of sales Gross profit Distribution costs Administrative expenses Other operating income Other operating expenses Operating profit Result from investments accounted for...

  • Page 182
    ... 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 183
    ... of the Audi Group ASSETS in EUR million Non-current assets Fixed assets Intangible assets Property, plant and equipment Investment property Investments accounted for using the equity method Other long-term investments Deferred tax assets Other receivables and other financial assets Current assets...

  • Page 184
    ... activities Capital contributions Transfer of profit Change in financial liabilities Lease payments Cash flow from financing activities Change in cash and cash equivalents due to changes in group of consolidated companies Change in cash and cash equivalents due to changes in exchange rates Change...

  • Page 185
    182 Statement of Changes in Equity of the Audi Group EUR million Issued capital Capital reserve Position as of Jan. 1, 2008 Currency adjustments Transfer to retained earnings Changes in measurement not recognized in income Result from securities Result from settled cash flow hedges Deferred tax ...

  • Page 186
    ... Currency exchange reserve - 11 5 6 -6 10 3 Reserve for cash flow hedges 592 - - 476 - - 553 23 - - - 538 538 - - 163 - - 341 53 - - 412 Actuarial gains and losses - 166 -1 - 54 - - - 16 - - - - 129 - 129 - - - 110 - - 33 - - - 206 AUDI AG stockholders' interests 8,312 19 948 400 114 - 551 12...

  • Page 187
    ... Changes in group of consolidated Costs companies Jan. 1, 2009 Intangible assets Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Capitalized development costs, products currently under development Capitalized development costs, products currently...

  • Page 188
    185 Value adjustments in gross carrying amounts Cumulative depreciation and amortization Jan. 1, 2009 1,994 - 0 531 35 2 50 - Changes in group of consolidated companies Cumulative depreciation and amortization Carrying amounts Currency changes Additions, scheduled Additions, unscheduled ...

  • Page 189
    ... Changes in group of consolidated Costs companies Jan. 1, 2008 Intangible assets Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Capitalized development costs, products currently under development Capitalized development costs, products currently...

  • Page 190
    187 Value adjustments in gross carrying amounts Cumulative depreciation and amortization Jan. 1, 2008 1,874 6 - 556 23 - 465 - Changes in group of consolidated companies Cumulative depreciation and amortization Carrying amounts Currency changes Additions, scheduled Additions, unscheduled ...

  • Page 191
    ... line with the management approach, the Audi Group has a one-segment structure. The amendments made to IAS 1 "Presentation of Financial Statements" have resulted in a reorganization of the financial statements and, in some cases, adjustments to the descriptions. The changes made to IAS 7 as part of...

  • Page 192
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 188 190 191 Development of fixed assets in the 2009 fiscal year Development of fixed assets in the 2008 fiscal year General information Accounting principles Group of consolidated companies...

  • Page 193
    ... financial and business policy in order to benefit from the activities of the companies (subsidiaries) in question. Consolidation begins at that point in time when AUDI AG acquires the opportunity for control; it ends when that opportunity ceases to be available. Associated companies are accounted...

  • Page 194
    ... a fully consolidated company resulted in a slight adjustment to the opening balance for 2009 of EUR 1 thousand. Consolidated Financial Statements 178 179 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes...

  • Page 195
    ... the current-period income statements of the respective Group companies. The foreign companies belonging to the Audi Group are foreign entities and prepare their financial statements in their local currency. The only exceptions are AUDI HUNGARIA MOTOR Kft. (GyÅ'r, Hungary) and Audi Volkswagen Middle...

  • Page 196
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 188 190 191 Development of fixed assets in the 2009 fiscal year Development of fixed assets in the 2008 fiscal year General information Accounting principles Group of consolidated companies...

  • Page 197
    ... date. Impairment tests are carried out for development activities and property, plant and equipment on the basis of expected product life cycles, the respective revenue and cost situation, current market expectations and currency-specific factors. Expected future cash flows to intangible assets...

  • Page 198
    ...Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 192 193 193 194 194 194 195 197 197 197 198 198 198 198 199 205 215 236 237 Development of fixed assets in the 2009 fiscal year Development of...

  • Page 199
    ... the Audi Group - this corresponds to the market value on the balance sheet date. If no active market exists, fair value is determined using investment mathematics methods, for example by discounting future cash flows at the market rate or applying established option pricing models. The fluctuations...

  • Page 200
    ... value adjustments. 178 179 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 Development of fixed assets in the 2009...

  • Page 201
    ... and adjustments to depreciation rates are made to take account of impairment losses calculated on the basis of impairment testing pursuant to IAS 36. Based on local factors and historical values from used car marketing, updated internal and external information on residual value developments is...

  • Page 202
    .... Consolidated Financial Statements 178 179 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 Development of fixed assets in the 2009 fiscal year Development of...

  • Page 203
    ... as well as exchange-rate gains resulting from measurement at the mean of the buying and selling rate on the closing date. Similarly, exchange rate losses are reported under other operating expenses. 6 Other operating expenses EUR million Expenses from the processing of payments in foreign currency...

  • Page 204
    ... 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 205
    ... be used indefinitely. The realization of tax losses led to a reduction in current income tax expense of EUR 2 (1) million in the 2009 fiscal year. Deferred tax assets of EUR 160 (149) million were not reported due to impairment. Unused tax loss carryforwards accounted for EUR 7 (2) million of this...

  • Page 206
    ... Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 215 236 237 Development of fixed assets in the 2009 fiscal year Development...

  • Page 207
    ... comprises factoring expenses arising in connection with the loan asset sales to Volkswagen AG (Wolfsburg) subsidiaries not belonging to the Audi Group. Impairment losses for financial assets by category EUR million Measured at fair value Measured at amortized cost Impairment losses 2009 3 84 87...

  • Page 208
    ... 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 209
    ... assets Non-current other receivables and other financial assets EUR million Loans advanced of which to affiliated companies Positive fair values of derivative financial instruments of which to affiliated companies Other tax assets Other assets of which to affiliated companies Total Dec. 31, 2009 75...

  • Page 210
    ... Positive fair values of derivative financial instruments 606 90 118 815 1,004 1 129 1,134 184 Consolidated Financial Statements Dec. 31, 2009 Dec. 31, 2008 178 179 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes...

  • Page 211
    ... different currencies. As part of the cash pool arrangement, liquid assets were invested with affiliated companies. 24 Equity Information on the composition and development of equity is provided on pages 182 and 183 in the Statement of Changes in Equity. The share capital of AUDI AG is EUR 110,080...

  • Page 212
    ...Group employees covered by the stock option plan had exercised their available conversion rights in full during the previous year. Consolidated Financial Statements 178 179 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes...

  • Page 213
    ... releases the Company from any other benefit obligations. Current contribution payments are reported as an expense for the year in question. With regard to the Audi Group they total EUR 261 (258) million. Of this, contributions of EUR 249 (239) million were paid in Germany toward statutory...

  • Page 214
    ... 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 209 215 236 237 Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 215
    ...gains and losses are recognized without affecting income under a separate line item within equity, taking deferred tax into account. The following amounts were recognized in the Income Statement: EUR million Current service cost for services provided by the employees in the fiscal year Interest cost...

  • Page 216
    ... 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 209 215 236 237 Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 217
    ... companies and participating interests Total 2,592 512 9 3,114 2,820 475 7 3,302 Dec. 31, 2009 Dec. 31, 2008 The fair values of the trade payables correspond to the carrying amounts due to their short-term nature. The customary retention of title applies to liabilities from deliveries of goods...

  • Page 218
    ... Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 209 215 236 237 Development of fixed assets in the 2009 fiscal year Development...

  • Page 219
    ... derivatives based on marketrelated, recognized financial valuation models, where the measurement factors, such as exchange rates or interest rates, can be observed directly or indirectly on active markets. In the Audi Group, level 3 mainly covers residual value hedging arrangements with the retail...

  • Page 220
    ..." category correspond to their carrying amounts and are indicated in the relevant sections, under the Notes to the Balance Sheet. The fair values of financial liabilities within the "measured at amortized cost" category amount to EUR 5,282 million and are indicated under the notes to the relevant...

  • Page 221
    ... other receivables and assets Current Trade receivables Other receivables and assets of which from positive fair values of derivative financial instruments of which miscellaneous other receivables and assets Securities Cash and cash equivalents Total financial assets LIABILITIES AND SHAREHOLDERS...

  • Page 222
    219 Assignment to IAS 39 categories Loans and receivables Financial liabilities measured at amortized cost No IAS 39 category allocated Measured at fair value Division into classes of IFRS 7 Measured at amortized cost Not under scope of IFRS 7 - - 90 2,215 - 4,553 - - 6,858 - 555 11 - 450 ...

  • Page 223
    ... to IFRS 7, in the first year of adopting the changes no comparative values for the previous year have to be given. The amended IFRS 7 was used in the Audi Group for the first time in 2009. 34 Management of financial risks 34.1 Credit risks Credit risks from financial assets comprise the risk of...

  • Page 224
    ...86 Consolidated Financial Statements 178 179 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 Development of fixed assets in the 2009 fiscal year Development of...

  • Page 225
    ... Specific value adjustment 19 26 -8 - 37 EUR million Position as of January 1 Addition Utilization Dissolution Position as of December 31 2009 37 76 - 13 -2 98 2008 19 26 -8 - 37 Portfolio-based write-downs are not used within the Audi Group. Collateral The Audi Group recorded financial assets...

  • Page 226
    ... risk management measures are also described. Additionally, these risks are quantified by means of sensitivity analyses. 178 179 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in...

  • Page 227
    ...interest rates at the balance sheet date on interest payments, interest income and expenses, and, where applicable, equity. Residual value risks The financial crisis had a negative impact on the used car market in 2009. This is a development that could continue in the coming years. Where losses are...

  • Page 228
    ... 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 229
    ... Cash Flow Statement details the payment streams for both the 2009 fiscal year and the previous year, categorized according to cash used and received for operating, investing and financing activities. The effects of changes in the group of consolidated companies and to foreign exchange rates on cash...

  • Page 230
    ... agreements between the Audi Group and third parties do not contain any change of control clauses in the event of a change in the ownership structure of AUDI AG or its subsidiaries. 39 Other financial obligations EUR million Within 1 year Ordering commitments for property, plant and equipment...

  • Page 231
    ...the provisions of the German Social Code. 43 Total average number of employees for the year 2009 Domestic companies Foreign companies Employees Apprentices Employees of Audi Group companies Employees of other companies in the Volkswagen Group which are not part of the Audi Group Workforce 45,408 10...

  • Page 232
    ... 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 215 236 237 Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 233
    ... Board and Board of Management." AUDI AG and its Group companies primarily deposit their cash funds with the Volkswagen Group or take up cash funds from the Volkswagen Group. All transactions are processed under market conditions. 45 Auditor's fees EUR thousand Auditing of the financial statements...

  • Page 234
    ... There is therefore no need for reconciliation accounts. EUR million Operating profit 2009 1,604 2008 2,772 178 179 180 181 182 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the...

  • Page 235
    ...Å koda brand Bentley brand Vehicle sales Other car business Revenue 2009 22,652 227 2,281 218 197 11 25,586 4,254 29,840 2008 25,534 404 2,705 290 223 12 29,168 5,028 34,196 The Audi Group, through Volkswagen AG (Wolfsburg) and also through the affiliated companies of the VW Group, has key accounts...

  • Page 236
    ... on the earnings achieved by the Company and its economic position. Under the stock option plans of Volkswagen AG (Wolfsburg), the members of the Board of Management of the Audi Group were granted the right to acquire stock options for shares of Volkswagen AG by subscribing to convertible bonds. In...

  • Page 237
    ...1,693 638,308 1) The employees' elected representatives have stated that their remuneration as Supervisory Board members shall be paid to the Hans Böckler Foundation, in accordance with the guidelines of the German Confederation of Trade Unions. The actual payment of individual parts of the total...

  • Page 238
    ... 180 181 182 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 184 186 188 192 199 205 215 236 237 Development of fixed assets in the 2009 fiscal year Development of fixed assets...

  • Page 239
    236 E V E N T S O CC U R R I N G S U B S E Q U E N T TO T H E B A L A N C E S H E E T DAT E There were no events after December 31, 2009 subject to a reporting obligation in accordance with IAS 10.

  • Page 240
    ... of Interests held by the Audi Group for the fiscal year ended December 31, 2009 P R I N C I PA L G RO U P CO M PA N I E S 178 179 Consolidated Financial Statements Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to...

  • Page 241
    ... Board of Management." This information is also available on the Company's website (www.audi.com/notes). Declaration relating to the Code on the Internet The joint declaration of the Board of Management and Supervisory Board of AUDI AG on the recommendations of the German Corporate Governance Code...

  • Page 242
    ..., the Consolidated Financial Statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the Group Management Report includes a fair review of the development and performance of the business and the position of the Group, together with...

  • Page 243
    ... by AUDI AG comprising the income statement and statement of recognized income and expense, the balance sheet, the cash flow statement, the statement of changes in equity and the notes to the consolidated financial statements, together with the group management report for the business year from...

  • Page 244
    ... of the German Commercial Code, AUDI AG is obliged to prepare its Consolidated Financial Statements in accordance with the requirements of the International Accounting Standards Board (IASB). The regularity of the Consolidated Financial Statements and Group Management Report is assured by means of...

  • Page 245
    242 Fuel consumption and emission figures As at: February 2010 (all data apply to features of the German market) Model Audi A1 A1 1.4 TFSI 1) A1 1.6 TDI 1) Audi A3 A3 1.2 TFSI 1) A3 1.4 TFSI A3 1.4 TFSI A3 1.6 A3 1.6 A3 1.8 TFSI A3 1.8 TFSI A3 1.8 TFSI quattro A3 2.0 TFSI A3 2.0 TFSI A3 2.0 TFSI ...

  • Page 246
    ... A4 Avant 2.7 TDI A4 Avant 2.7 TDI A4 Avant 3.0 TDI quattro A4 Avant 3.0 TDI quattro A4 Avant 3.0 TDI clean diesel quattro S4 Avant 3.0 TFSI quattro S4 Avant 3.0 TFSI quattro Audi A4 allroad quattro A4 allroad quattro 2.0 TFSI Power output (kW) Transmission 147 147 147 184 184 125 200 200 6-speed...

  • Page 247
    ...Model A4 allroad quattro 2.0 TFSI A4 allroad quattro 2.0 TDI A4 allroad quattro 2.0 TDI A4 allroad quattro 3.0 TDI A4 allroad quattro 3.0 TDI Audi A5 Sportback A5 Sportback 1.8 TFSI A5 Sportback 2.0 TFSI A5 Sportback 2.0 TFSI A5 Sportback 2.0 TFSI A5 Sportback 2.0 TFSI A5 Sportback 2.0 TFSI quattro...

  • Page 248
    ... A6 allroad quattro 3.0 TFSI A6 allroad quattro 4.2 FSI A6 allroad quattro 2.7 TDI A6 allroad quattro 3.0 TDI A6 allroad quattro 3.0 TDI Audi RS 6 Sedan RS 6 5.0 TFSI quattro Audi RS 6 Avant RS 6 Avant 5.0 TFSI quattro Audi Q7 Q7 3.6 FSI quattro Q7 4.2 FSI quattro Q7 3.0 TDI quattro Q7 3.0 TDI clean...

  • Page 249
    ... IFRS Production Cars Engines Deliveries to customers Audi Group Audi brand Germany Outside Germany Outside Germany Market share, Germany Lamborghini brand Other Volkswagen Group brands Workforce From the Income Statement Revenue Cost of materials Personnel costs Personnel costs per employee...

  • Page 250
    ... 2004 1) 784,972 1,485,536 2005 1) 811,522 1,695,045 2006 926,180 1,895,695 2007 980,880 1,915,633 2008 1,029,041 1,901,760 2009 932,260 1,384,240 1,003,791 769,893 237,786 532,107 69.1 7.4 1,305 232,593 52,689 971,832 779,441 235,092 544...

  • Page 251
    2010 Financial Calendar Quarterly Report, 1st quarter May 3, 2010 Annual General Meeting May 20, 2010 Audi Forum Ingolstadt Interim Financial Report July 30, 2010 Quarterly Report, 3rd quarter November 2, 2010

  • Page 252
    AUDI AG 85045 Ingolstadt Germany Phone +49 (0)841 89-0 Fax +49 (0)841 89-32524 email [email protected] www.audi.com Financial Communication/ Financial Analysis I/FF-12 Phone +49 (0)841 89-40300 Fax +49 (0)841 89-30900 email [email protected] www.audi.com/investor-relations Communications I/GP Phone +49 ...