Audi 2010 Annual Report Download - page 161

159
Management Report
132 Audi Group
141 Business and underlying
situation
156 Financial performance
indicators
156 Financial performance
158 Net worth
159 Financial position
159 Social and ecological aspects
159 Employees
162 Audi in society
163 Location-based
environmental aspects
167 Product-based
environmental aspects
173 Risks, opportunities
and outlook
183 Disclaimer
Current liabilities climbed to EUR 11,979 (9,493) million due to such factors as the sales-related
rise in trade payables, higher effective income tax obligations and the higher transfer of profit to
Volkswagen AG.
FINANCIAL POSITION
The Audi Group enjoyed a substantial increase in cash flow from operating activities to
EUR 5,797 (4,119) million in the past fiscal year.
In the same period, the cash used in investing activities for current operations amounted to
EUR 2,260 (1,798) million. Investments in property, plant and equipment in 2010 reached
EUR 1,362 (1,172) million. The investment focus was mainly on new products and the further
development of pioneering technologies in the spheres of drive technology, lightweight design
and electrification.
Including cash deposits in securities and the change in fixed deposits and loans extended, the
cash used in investing activities totaled EUR 946 (1,433) million. The year-on-year decrease is
essentially attributable to the change in fixed deposits and loans.
The Audi Group again succeeded in financing capital investments entirely from its own resources,
at the same time generating an easily positive net cash flow of EUR 3,536 (2,321) million. This
underlines the enduring financial strength of the Company.
The net liquidity on December 31, 2010 of EUR 13,383 (10,665) million was once again well up
on the prior-year figure.
The other financial obligations as of year-end amounted to EUR 2,192 (1,813) million, mainly in
the form of ordering commitments. Further details are provided in Section 39 of the Notes:
“Other financial obligations.”
SOCIAL AND ECOLOGICAL ASPECTS
EMPLOYEES
Workforce
Average for the year 2010 2009
Domestic companies 45,914 45,408
of which:
AUDI AG 44,299 44,344
Ingolstadt plant 31,344 31,409
Neckarsulm plant 12,955 12,935
Foreign companies 11,038 10,200
of which:
AUDI BRUSSELS S.A./N.V. 2,145 2,153
AUDI HUNGARIA MOTOR Kft. 5,833 5,614
Lamborghini Group 803 1,000
VOLKSWAGEN GROUP ITALIA S.P.A. 883 902
Employees 56,952 55,608
Apprentices 2,269 2,115
Employees of Audi Group companies 59,221 57,723
Staff employed from other Volkswagen Group companies
not belonging to the Audi Group 292 288
Workforce 59,513 58,011
The Audi Group employed an average of 59,513 (58,011) people in fiscal 2010.
The slight increase compared with the previous year is largely down to the one-time creation of
100 positions for apprentices at AUDI AG and the first-time consolidation of various companies.
The personnel total at AUDI HUNGARIA MOTOR Kft., Győr (Hungary), likewise rose slightly as a
result of the increased production volume.