Audi 2011 Annual Report Download

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Table of contents

  • Page 1

  • Page 2

  • Page 3
    ... 2011 Production Cars Engines Deliveries to customers Audi brand Germany Outside Germany Lamborghini brand Other Volkswagen Group brands Workforce Revenue EBITDA 1) Operating profit Profit before tax Profit after tax Operating return on sales Return on sales before tax Return on investment...

  • Page 4
    ... moments for Audi in 2011. In selling 1.3 million cars we actually exceeded our sales target - notwithstanding the global economy taking us all on a real roller coaster ride. We won the classic 24 Hours of Le Mans for the tenth time, and again captured the title in the German Touring Car Masters...

  • Page 5
    ... Audi brand rejuvenated the A6 car line last year by launching new-generation Sedan and Avant versions. The Audi A6 allroad quattro will follow in early 2012, rounding off the brand's range of full-size models in this segment. 2011 saw the Audi brand sell 210,000 more vehicles than in 2010, taking...

  • Page 6
    ... of the accounts confirmed the Annual Financial Statements of AUDI AG and the Consolidated Financial Statements of the Audi Group, as well as the Management Reports for AUDI AG and the Audi Group for the 2011 fiscal year, and in each case issued its unqualified certification. The members of the...

  • Page 7
    04 _ Audi moments PHOTOS | AUDI AG

  • Page 8
    ... Board of Management Victory at Le Mans I stayed awake all night so as not to miss a second of this historic race. What an emotional roller coaster it was: first those frightening accidents, then our R18 TDI crossing the finishing line first with a lead of just 13.854 seconds. Le Mans 2011 was...

  • Page 9
    06 _ Audi moments PHOTOS | R I C H A R D W A L C H /A U D I A G ; T H O M A S D A S H U B E R/M U N I C H

  • Page 10
    .... International teams compete against each other and excel themselves. The Audi Team too, a mixture of professionals and amateurs for whom this is a dream come true. Together the sailors took part in the competition with great passion and team spirit; within a very short space of time they evolved...

  • Page 11
    08 _ Audi moments * Fuel consumption and emission figures at the end of the Annual Report PHOTOS | A U D I A G ; T H O M A S D A S H U B E R/M U N I C H

  • Page 12
    ... Marketing and Sales Audi Cup 2011 What an atmosphere! 132,000 fans over two days in a sell-out Allianz Arena, millions more watching on TV in 180 countries: The Audi Cup 2011 was a feast for fans. Their passion and exuberance made this an exceptional occasion - and also my Audi moment of 2011...

  • Page 13
    10 _ Audi moments PHOTOS | AUDI AG

  • Page 14
    ... of our development departments. Producing this show car was no easy task. After all, we wanted to combine the strong legacy of the A2 with our trailblazing visions for design, electric mobility and connectivity into one sensational concept. Its success at the International Motor Show in 2011 showed...

  • Page 15
    12 _ Audi moments Fuel consumption and emission figures at the end of the Annual Report PHOTOS | A U D I A G ; T H O M A S D A S H U B E R/M U N I C H

  • Page 16
    ... Production 24 Hours of Audi My moment of 2011 lasted exactly 24 hours. During that time, 2,259 Audi employees covered a distance equivalent to almost once round the earth in the 24-hour run at the Ingolstadt plant, raising 150,000 euros for charity in the process. That makes me so proud of Audi...

  • Page 17
    14 _ Audi moments * Fuel Fuel consumption consumption and and emission emission figures figures at at the the end end of of the the Annual Annual Report Report PHOTOS | A U D I A G ; T H O M A S D A S H U B E R/M U N I C H

  • Page 18
    .... Cars communicate with each other and with their environment. Driving is now a very efficient affair that gives people unprecedented scope for more communication on all conceivable electronic platforms. The office on wheels permits tailormade working hour models. Jobs are independent of time and...

  • Page 19
    16 _ Audi moments PHOTOS | A U D I A G ; T H O M A S D A S H U B E R/M U N I C H

  • Page 20
    .... The challenge for Purchasing is to find the right suppliers and partners for new technologies, and for us to become involved in the product creation process early on. We maintain an intensive dialog with Technical Development and Production to determine what we need to do to prepare for the...

  • Page 21
    Michael Dick Technical Development Rupert Stadler Chairman of the Board of Management Axel Strotbek Finance and Organization PHOTOS | S E E P A G E 132

  • Page 22
    The Board of Management _ 19 Peter Schwarzenbauer Marketing and Sales Thomas Sigi Human Resources Ulf Berkenhagen Purchasing Frank Dreves Production

  • Page 23
    ... more online The Audi 2011 Annual Report on the Internet and as an app for iPhone, iPad, Android smartphone and Android tablet. Italian temptation Audi driving experience: through Tuscany in the R8 GT Spyder. Reason to celebrate Top-class soccer players delight fans at the Audi Cup 2011. Close to...

  • Page 24
    ... Nilson on his expedition from North to South Pole. 108 130 Record year In the 2011 fiscal year, Audi continued on the path to becoming the world's leading premium brand. Group Management Report 2011 Consolidated Financial Statements 2011 Corporate Governance Report 2011 92 112 134 188 96...

  • Page 25
    ... 2011 The Audi 2011 Annual Report is now a multimedia experience - on the iPhone, iPad, Android tablet or Android smartphone, or on the Internet. Just a click away. iPad Android tablet Android smartphone The Audi Annual Report is available as an app for smartphones and tablets. Simply download...

  • Page 26
    ... Annual Report article. If an app which can read QR codes is installed on your smartphone, then you can access all kinds of additional information, videos and photos in a matter of seconds. Simply open the app and scan the QR code (connection costs as per cell phone contract). In 2011, Audi won...

  • Page 27
    24 _ Experience A sight to slow down for: houses bathed in the warm evening glow along the road to Siena. Fuel consumption and emission figures at the end of the Annual Report

  • Page 28
    ... Italian temptation The Audi driving experience can make dreams come true - take one of the world's most beautiful cars through landscape that is every bit as beautiful. A love letter describing an unforgettable tour through Tuscany. Text | Dirk Lehmann PHOTOS | TOM SÃ"LO/FRÃ-HLICH MANAGEMENT

  • Page 29
    26 _ Experience Every town sign is a promise, every curve a joy - and the air cries out for open-top driving. Fuel consumption and emission figures at the end of the Annual Report

  • Page 30
    ... me two years ago not to "drive like a madman" when I was imitating a Mille Miglia participant on that winding road to Asciano? Could be. Or is it because last fall, you decided to ï¬,y to Manhattan TOM SÃ"LO/FRÃ-HLICH MANAGEMENT Tradition meets modernity: the key to an idyllic country estate on...

  • Page 31
    ... has limited luggage space, so I packed light, though I did throw in a memory card with music - club sounds for highway driving, classics for country roads. I let myself slide into the driver's seat, buckled up and started the car. The engine roared, then dropped back into a gurgling idle. A hoarse...

  • Page 32
    ...: The Audi driving experience's Tuscany tour starts near Munich. Following a brief introduction, drivers take six days to reach the charismatic Crete Senesi landscape to the south of Siena. Participants drive Audi R8 Spyder cars to destinations programmed into their navigation systems. Evenings...

  • Page 33
    ... just what this means to him. Gattuso lets go of his hand - Nic's cue to run over to the corner ï¬,ag. The game is about to start, but Nic doesn't care about the score now. The jersey will be hanging over his bed for a long time to come. And that moment, his moment during the Audi Cup, will...

  • Page 34
    Experience _ 31 Player escort Nic Philippbaar hand in hand with Gennaro Gattuso (AC Milan).

  • Page 35
    ... is a professional when it comes to talking soccer. But today she is here to support her team, AC Milan. She looks at her watch excitedly. Just a couple of minutes, and her team will Simona Ventura "Both as a fan and a journalist, soccer is an incredibly important part of my life." PHOTOS...

  • Page 36
    ... at once." Four rings, four teams Top international soccer, presented by the brand with the four rings: In staging the Audi Cup, AUDI AG acts as a close partner and promoter of the sport both nationally and internationally, in an emotionally charged context. The 2011 tournament at Munich's Allianz...

  • Page 37
    34 _ Experience Kieler Woche Close to the wind Nine amateurs, six professionals, one racing yacht. At the Kieler Woche, the world's largest sailing regatta, Audi makes dreams come true. And builds winning teams. Text | Tatjana Pokorny PHOTO | R I C H A R D W A L C H /A U D I A G

  • Page 38
    Experience _ 35 All for one, one for all: Amateur Holger Neu makes control lines shipshape after setting the foresail.

  • Page 39
    36 _ Experience ill there. We w t u o y s a e e "It won't b ry fight for eve sail hard and ou and is, we need y th o d o T . n positio mmitment!" o c l a n io it d n your unco Tim Kröger PHOTO | R I C H A R D W A L C H /A U D I A G

  • Page 40
    Experience _ 37 The Audi Team in the pre-start phase: The boats approach the start line and maneuver for the best starting position. What is needed now are perfect timing, perspective and the ideal strategy.

  • Page 41
    38 _ Experience Stronger together: Whether sailing with the gennaker on a downwind reach (top left), working the grinder (top right) or at a briefing in the racing yacht's cockpit - the Audi Team grew as a unit during the Kieler Woche and surpassed expectations.

  • Page 42
    ...studies in Business Administration. He had already built up over a decade of experience in competitive sports, including four years as a national team member and a victory in the Admiral's Cup in 1983, for which he and the rest of the German team were awarded the Silver Laurel - Germany's top sports...

  • Page 43
    ...coming from the "Red-White" command center in the...cruising...calls for race number three after they cross the finish line. After another briefing, the Audi yacht speeds across the starting line. Once again, the team improves and finishes in sixth place. When working the foredeck, every hand hold...

  • Page 44
    ... summer 2010, the Company has also been supporting the German national sailing team, which goes by the name Audi Sailing Team Germany. The next generation of yachtsmen and women is also benefiting from the Company's support. As a partner of the world's largest regatta, the Kieler Woche, the brand...

  • Page 45
    42 _ Experience The entrance to the Audi Ring at the IAA 2011 - the futuristic contours symbolize dynamism, innovation and sophistication. IAA 2011 ring of rings Audi presented itself at the International Motor Show (IAA) in Frankfurt using a visionary themed world. A tour in three acts with ...

  • Page 46
    Would have liked to take a spin right away: Festival director Katharina Wagner takes a seat in the R8 GT Spyder. Fuel consumption and emission figures at the end of the Annual Report

  • Page 47
    ...which is set up as a short journey through time: from the present into the future - from technologies like Audi connect and Audi ultra that are synonymous with digital networking and lightweight automobile construction, all the way to the Audi e-tron, the future models for electric mobility. And the...

  • Page 48
    ... lane assist function." And what about fuel consumption? "I drive a diesel because I spend a lot of time on the road." What equipment is most important to you - the sound system? "Yes, that is very important to me. But I need a Bluetooth connection to my smartphone as well." Because you have saved...

  • Page 49
    46 _ Innovation Fuel consumption and emission figures at the end of the Annual Report PHOTO | S T E FF E N J A H N

  • Page 50
    ... Be it Internet access via WLAN hotspot, 360-degree images from Google Street View or online news, Audi connect ensures that customers are out in front on the data highway. Mr. and Mrs. Schertling experienced this firsthand when they took delivery of their new vehicle at the Audi Forum Neckarsulm...

  • Page 51
    ... mobility Audi connect integrates all applications which connect an Audi to its owner, the Internet, the infrastructure and other vehicles. The system supplies online traffic information, navigation currently via Google Earth images and Google Street View, WLAN hotspot and a voice-activated search...

  • Page 52
    ... points of interest - such as attractions at the destination. "It's a personal, on-board travel guide," says a pleased Mr. Schertling. Audi connect also enhances safety. Thanks to networked driver assistance systems such as adaptive light, an automatic speed limit display and adaptive cruise control...

  • Page 53
    ... shop: Michael Dick, Member of the Board of Management for Technical Development at AUDI AG (center), talks with leading developers while standing beside the R8 e-tron in the Audi Pre-Series Center in Ingolstadt. ENNO KAPITZA Fuel consumption and emission figures at the end of the Annual Report...

  • Page 54
    Technical Development Where Audi develops its How do you develop the future? There is no secret formula for this at AUDI AG, either. The "Vorsprung durch Technik" that the brand has represented for more than 40 years must be worked for day after day. Text | Thomas Ammann

  • Page 55
    ... by the group gathered around AUDI AG Board Member Michael Dick in Ingolstadt: Peter Fromm, Head of Superstructure Development; Dr. Horst Glaser, Head of Chassis Development; Josef Habla, Head of the Pre-Series Center; Heinz Hollerweger, Head of Total Vehicle Development; Ricky Hudi, Head of...

  • Page 56
    ...mobility in a captivating design: The Audi R8 e-tron will take to the streets as a limited series in late 2012. Optimal networking Audi Pre-Series Center (VSC) Around 1,800 people worldwide work in the Audi Group's pre-series center workshops and offices, including some 850 employees in Ingolstadt...

  • Page 57
    ... innovations should help us to continue reversing the weight spiral." Many Audi model families already offer Internet connectivity as an option. This is a challenging goal - and work on "Vorsprung durch Technik" continues in other areas, too. The brand's technologies for connecting its cars with...

  • Page 58
    ...design, ultra, connect and e-tron, we have strong fields for the future that will shape our brand." Michael Dick Member of the Board of Management for Technical Development at AUDI AG A peek at the future (left): testing a prototype of the Audi connect system at the Pre-Series Center in Ingolstadt...

  • Page 59
    56 _ Innovation "The carbon makes the skis stiffer and gives them more spring. This lets you ski a tighter radius." Hermann Maier PHOTO | S T E F A N S C H U E T Z .C O M

  • Page 60
    Audi Carbon Ski The Audi for the slopes When the creator of quattro drive designs a ski, the standards are high: It should perform at a highly competitive level and yet be safe. Skiing legend Hermann Maier tested the new Audi Carbon Ski. Text | Rainer Thide

  • Page 61
    ... 2008. Blasius Gerg, whose company builds products that include the carbon fiber monocoques for Audi race cars, Max-Herbert Wagner, who is responsible for CFRP tooling and tool concepts at Audi, and Wolfgang Egger, Head of Design for the Audi Group, discussed a passion they shared: skiing. "We are...

  • Page 62
    ... Egger, Head of Design for the Audi Group, fused high-tech materials and a progressive design language in the Audi Carbon Ski. developed which protects the valuable carbon and resists scratching, yet lets the fiber structure of the material shimmer through. When the ski is turned in the light, the...

  • Page 63
    ... sea bridge - the Audi Q3 Trans China Tour 2011 took international journalists on a journey through China, a land of contrasts. Text | Bernhard Bartsch Fuel consumption and emission figures at the end of the Annual Report PHOTO | P I C T U R E : S E R V I C E G M B H /A U D I A G the Middle...

  • Page 64
    ...was the city of Shenzhen, near Hong Kong. In China, Audi manufactures its vehicles in Changchun in the northeast, and will also begin production operations in Foshan, which is located in the south of the country, in 2013. BEIJING JINAN QINGDAO NANJING SHANGHAI HANGZHOU GUILIN YANGSHUO GUANGZHOU...

  • Page 65
    ... through China. On board are car journalists from all over the world. Together, they will explore the intricacies of the country that for years has been the most important growth market in the automotive industry. The breathtaking statistics are well-known, but "seeing one time is better than...

  • Page 66
    ... number of different Chinese cell phones to the vehicle power supply, in addition to televisions that support the Chinese standard for mobile video transmission. "China is now setting its own standards, and is thus on a level with Europe, North America and Japan," says Khan. "In terms of technology...

  • Page 67
    ... over the previous year. Most of the vehicles sold in China leave the assembly line in Changchun, in the northeast of the country, where the A6 L, A4 L and Q5 are all built. The Q3 is also scheduled to be produced there in the future. Starting in 2013, a second production facility will be added...

  • Page 68
    ... understanding, as well as common objectives. Is price the most important criterion for awarding a contract? Our Audi quality standard is the most important prerequisite. Adherence to turnaround times and a high level of development expertise come next on the list. Of course, all of this must be...

  • Page 69
    ... the customer will be able to book different vehicles for different needs for a ï¬,at fee. We will leave well-trodden paths behind. Prof. Smith: Do you see any country in the world that is making strong headway in developing its transportation system? Stadler: There are a number of emerging-market...

  • Page 70
    ...: In researching my book, I found that the future holds enormous opportunity for carmakers. Demand is about to rise significantly. However, this could also create serious damage. How does Audi propose to navigate between these two poles? Stadler: Technology is the key. Our engineers are working...

  • Page 71
    ... change to our mobility and our transportation systems. Stadler: For Audi, I have issued the slogan "Always on." Connectivity in the car means that you will be telling your car where to go via speech recognition, with your car then figuring out the best route and estimated trip time, optimized...

  • Page 72
    ...to change course and head toward renewable energy sources. But they are not commercially viable yet. Doesn't that make it very difficult for a company to plan investments? Stadler: We will always invest in powerful, emotionally appealing cars, whatever "power" will mean in the future. The important...

  • Page 73
    70 _ Passion ort ly a motorsp There is hard ment ical develop n h c te re e h w competition di's ively with Au s s re p im o s dovetails at Le Mans. s a s e v ti c je b efficiency o Le Mans Fueling success PHOTO | IMAGO/LAT PHOTOGRAPHIC

  • Page 74
    Passion _ 71 The new Audi R18 TDI is the first closed race car from Audi since 1999 and is brimming with innovations. The Audi brand celebrated its tenth victory in the 24 Hours of Le Mans in 2011. A look back: three biographies, one race and one fuel - enthusiasm. Text | Alexander von Wegner

  • Page 75
    72 _ Passion Dr. Wolfgang Ullrich (left), Head of Audi Motorsport since 1993, directs the Audi R18 TDI to its debut victory at Le Mans. It is Audi's tenth After 24 hours, the winners are Marcel Fässler, André Lotterer and Benoît Tréluyer in the Audi R18 TDI bearing the number 2. PHOTOS | A ...

  • Page 76
    Passion _ 73 victory on the Sarthe - thanks among other things to the perfect coordination of the Audi team during the diesel sports car's pit stop (right).

  • Page 77
    ... racing event. Even after 88 years, the Grande Dame of motorsport is considered a source of inspiration, fascination and motivation. A driving force for the biggest brands, their drivers and their employees. And for amazing fans: 249,500 people poured into the department of Sarthe in June 2011. They...

  • Page 78
    ... ultra lightweight technology saves lives. Both drivers free themselves from the wreckage of their race cars. "McNish thanked me for the sturdy cockpit. That was very moving," recalls Löffler. Another 16 hours of adrenaline follow: The last remaining Audi keeps the four Peugeot lions behind it. All...

  • Page 79
    76 _ Passion Mizuho Sakaguchi and Azusa Iwashimizu (at rear) don't just team up to play soccer, they also joined hands to present the new A1 Sportback. Fuel consumption and emission figures at the end of the Annual Report PHOTO | P I C T U R E : S E R V I C E G M B H /A U D I A G

  • Page 80
    Passion _ 77 Audi A1 Sportback A big stage for a small car: At the Tokyo Motor Show, Mizuho Sakaguchi and Azusa Iwashimizu presented the new A1 Sportback. And they were joined on stage by a real samurai. Text | Peter Lyon

  • Page 81
    ... carmakers, Japan is a defining market. Customers here place special value on technology and design. S At the Tokyo Motor Show, Mizuho Sakaguchi and Azusa Iwashimizu unveiled the one-of-a-kind "Audi A1 SAMURAI BLUE" - a tribute to Japan's National Football Team. o let's ask the question: What...

  • Page 82
    ... (86 hp) to 136 kW (185 hp). Some engines are optionally available with the swift-shifting S tronic 7-speed dual-clutch transmission. Audi connect and the Bluetooth car phone online link up the A1 Sportback to the Internet. Customers can select fresh colors and detail features to give their personal...

  • Page 83
    80 _ Passion Are the gaps even? Do the actual values match the target values? Deviations can be measured to a tenth of a millimeter in the Audi master jig. Fuel consumption and emission figures at the end of the Annual Report PHOTO | B E R N H A R D H U B E R/A U D I A G

  • Page 84
    ... Thim The measure of all things The third Audi brand value besides sportiness and progressiveness is sophistication. It therefore comes as no surprise that from the initial idea to the finished product, every Audi vehicle has to pass countless quality checks. Like the new Audi RS 4, for instance.

  • Page 85
    ... of the Ingolstadt plant, the new Audi RS 4 rests on a stand of solid steel, accessible from all sides. The Ibis White paint of the RS 4 is covered with colorful numbers, lines and stickers: Gap, concept, 0.3, 0.2 and 0.1 are written on the engine hood. Every detail of the vehicle is checked here on...

  • Page 86
    ... model can only go into production after all materials have passed the tests, all components have been fine-tuned to one another and the acoustics and driving characteristics fulfill all specifications. The work is still not completed at that point, however. "Quality does not come automatically...

  • Page 87
    ... sports car maker Lamborghini is adorning a special series with the color Rosso Mars. But the car is awe-inspiring not just for its outfit, but also for its performance. Especially on snow. Text | Jürgen Lewandowski Fuel consumption and emission figures at the end of the Annual Report PHOTO...

  • Page 88
    Passion _ 85 Better than ï¬,ying: The Super Trofeo Stradale turns every mile in the snow-covered Carpathian Mountains into pure driving pleasure. "Dancing red-on-white takes a little practice."

  • Page 89
    ... perfectionist in Ferruccio Lamborghini also shone through in the design of his automobiles - even the very first model had a 12-cylinder engine with four overhead camshafts; the 5-speed transmission was designed and built in-house according to Lamborghini's own quality standards, and independent...

  • Page 90
    ... setting, one to three times as much downforce as the Gallardo LP 560-4. Another element taken directly from the race car is the removable engine hood with quick-assembly system, which, like the rear spoiler, is made of carbon-fiber composite material. Everywhere you look, you see this very light...

  • Page 91
    88 _ Responsibility e 0 in one of th 3 0 2 r a e y e Th rs: olitan cente p o tr e m r jo world's ma re? ke to live the li e b it l il w What ther? place to ano e n o m o fr t ge . How will we in Frankfurt s rt e p x e h it log w An open dia

  • Page 92
    Illustration | Scriberia Text | Christina Mänz

  • Page 93
    ... in 2011 in Frankfurt: presentations by renowned researchers and themed workshops with Audi experts and external specialists. The open dialog from the architecture competition was continued here. Insight Team A group of Audi employees from various divisions focus on mobility and urban development...

  • Page 94
    ...shifting the boundaries of our business model." Peter Schwarzenbauer Marketing and Sales With the Audi Urban Future Initiative, we have dared to leave our comfort zone. For a long time, the automotive industry has been living in an ivory tower. We at Audi know: To actively help shape the future, we...

  • Page 95
    ... 94 _ Rubrik Sustainability Many different methods are being used to achieve energy efficiency, COâ,, reduction and sustainability at Audi. The common denominator and name for these efforts: Audi balanced mobility. Text | Kay Dohnke FOTOS | XXXXXXXXXXXXXXXXXX In harmony with the environment

  • Page 96
    ... we are developing systematically," said Frank Dreves, Member of the Board of Management for Production at AUDI AG. A vehicle's environmental footprint, after all, also depends on how it is built, with particular attention being paid to energy. By 2020 Audi wants to reduce site- and Company-speci...

  • Page 97
    ...the optimal use of space in packaging and containers. By helping to avoid energy-consuming transport, this increases the potential for saving energy to up to 20 percent. Great potential for saving energy has also been developed in the area of distribution logistics: Audi models shipped overseas from...

  • Page 98
    ... rolling off the assembly lines in late 2013, can fill up at any natural gas fueling station. Still, the Audi Group believes that it is not enough merely to develop innovative automotive drive systems to the point where they are ready to use and then introduce them to the market. As a carmaker...

  • Page 99
    ... Audi cylinder management system and biathlete Magdalena Neuner have in common? Far more than you would think. Text | Alexander von Wegner Magdalena Neuner and the Audi S6 are two model athletes with special qualities. Fuel consumption and emission figures at the end of the Annual Report PHOTO...

  • Page 100
    Responsibility _ 97

  • Page 101
    ... it comes to making clever use of potential. Rationing energy: muscle in the case of humans, fuel in the car. Cross-country skiing is all about time; shooting is about precision. When the Audi S6 performs an impressive sprint with eight cylinders, it saves time. With four cylinders, it saves fuel...

  • Page 102
    ...Magdalena Neuner, this means mental training, physical fitness and years of practice. The Audi uses a sensitive system of sensors, innovative acoustic systems and active engine bearings. The active noise control Activated Deactivated V8 engine The cylinder on demand technology deactivates four of...

  • Page 103
    ... Cologne Institute for Economic Research, and Axel Strotbek, Member of the Board of Management for Finance and Organization at AUDI AG, discuss the Olympic idea in a globalized business world, the future of the mobile society and the Audi brand's technological responses. Editor | Michael Kneissler...

  • Page 104
    ...for new competitive structures. But you are in the happy position that your products unite business with sport, so you are able to keep emphasizing the parallels between competition in these two spheres. Strotbek: At Audi, we have set ourselves clear goals. Sportiness is part of our brand's essence...

  • Page 105
    ..."more of the same." Rather, growth is about change. Take, for instance, Germany's plans for a radical change in its energy supply. Obviously that will only work if new, intelligent, energy-saving technologies are developed. But at the same time, old technologies will cease to be used. I believe that...

  • Page 106
    ... that direction by progressively networking and refining technologies such as adaptive cruise control with stop&go function, active lane assist and side assist. "These are extremely exciting times as we strive to determine the future shape of mobility." Axel Strotbek Dialog: Axel Strotbek and Dr...

  • Page 107
    .... Text | Stephan Seiler The Audi pole2pole expedition, covering almost 30,000 kilometers, began on April 4, 2011 at the North Pole. After leaving Vancouver, Nilson relied on an Audi Q5 as a support car. Fuel consumption and emission figures at the end of the Annual Report PHOTOS | JOHAN ERNST...

  • Page 108
    ... he will be accompanied by an Audi support vehicle, which will transport part of his equipment for him. Johan Ernst Nilson, who originally studied journalism, has been a professional adventurer for 18 years now. He has undertaken expeditions to more than 100 countries. Nilson has climbed the world...

  • Page 109
    "After 125 kilometers in the saddle, I reached the golden beaches of Oregon on July 28, 2011." Johan Ernst Nilson In Mexico, Nilson had to endure temperatures of up to 50°C. Stopping for lunch at a small store in Mexico. PHOTOS | JOHAN ERNST NILSON

  • Page 110
    ... share this pioneering spirit. The carmaker wants to be a trailblazer - with its systematic Audi ultra lightweight construction, its quattro permanent allwheel drive, its TDI diesel engine and in future with its e-tron electric cars. Audi is supporting Nilson by providing him with modern technology...

  • Page 111
    1 08 _ Inspiration "Design is always emotional to start with." Stefan Sielaff explains how to create a car interior that delights customers. * Fuel consumption and emission figures at the end of the Annual Report PHOTOS | S J O E R D T E N K A T E /S C H I E R K E

  • Page 112
    ... car change car interiors? Interview If Audi designers want to make the Board of Management fans of a new interior concept, they host a trial sitting - in the model interior. For our interview on the Audi A2 e-file study Stefan Sielaff, Head of Audi Design at the time, now responsible for Group...

  • Page 113
    ... future. To redefine the interior in an Audi world, taking the electric drive system into account. The designs we devised on paper and on the PC were then translated into a model so we designers - and the Board members who ultimately take the final product decision - can grasp them in both senses...

  • Page 114
    ... chief designer posts at various car manufacturers, Egger joined the Audi Group in 2007, since which time he has been Head of Audi Group Design. In this position he has overall responsibility for vehicle design at the Lamborghini brand and for vehicle and product design at the Audi brand. Egger...

  • Page 115
    ... SWR3 New Pop Festival 2011 A stage for the future The SWR3 New Pop Festival in Baden-Baden is more than just a stage for well-known artists - it is a springboard for up-and-coming young stars. Audi helped sponsor the three-day event for the first time in 2011. Text | Marcel Anders PHOTO...

  • Page 116
    ... from AUDI AG. The Company appeared for the first time in 2011 as main partner and co-sponsor of the festival, which is organized by SWR3 - the Südwestrundfunk broadcasting company's pop radio station. "This enables us to promote new talents and further strengthen the Audi brand image among...

  • Page 117
    ...the quality of the artists and the relaxed atmosphere. There is a good reason that the festival in Baden-Baden has so many repeat visitors. It is a genuine musical tradition. The SWR3 New Pop Festival 2011 draws to a melodious close in a festival special on the third and final day of the event with...

  • Page 118
    ... its cultural commitment with summer concerts and its own rock and pop festivals in Ingolstadt and Neckarsulm. What's more, Audi is sparking the enthusiasm of children and youth in technology with events such as "Lernfest," "Girls Day," "Technik Camp" and a variety of vacation activity programs.

  • Page 119
    Lightweight automotiv ve construction int in nte erp er pr ret e et ted ed as s jewelr jew welr elry y. y. Spira Sp Spi ral r a brac al ace a celet lets s made e fr ro om m lig gh htw ht tw weig ght ht spr s ing i g st in teel ee . eel. PHOTO | ANDRA/TANK MANAGEMENT

  • Page 120
    Inspiration _ 117 Audi collection The lifestyle articles from the Audi collection make it possible to experience the Audi brand not just through vehicles, but via fashion as well. An extraordinary presentation in the Audi body shop. Text | Marcus Luft

  • Page 121
    ...con nimentis que et quae quostior sin et dolupta Text | Max Mustermann B Audi A6 Ulla cortin ulla facinibh et prat vel ul la conse dit, quiscil illa .... Durch größere Befugnisse könnten die nationalen Finanzaufsichtsbehörden Holding-Gesellschaften stärker auf die Finger schauen, teilte die EU...

  • Page 122
    ... o d t e corper sendre num dionsed is rt o b lo t te equat pra accu incidunt lor m te e s e ra magnisl iure quis. ugue mod te e to s u s ip d mmo Series production me mee m eets ts pre pre r cis cis si ion on o nc cr ra aft f sm ft ftsma sma mansh ansh n ip. ns p. Bri Br...

  • Page 123
    120 _ Inspiration Vorsprung durch Technik do n to dow to the the finest nest de detai tail. l. A i chro Aud chronog nograp rap a h with with h in inter tercha cha ange n abl able e wris wrist t band band. and d. PHOTOS | ANDRA/TANK MANAGEMENT

  • Page 124
    Audi design language fo th for the week eekend end nd. . Weeken Wee ke ken end bag en ag mad ad de f from rom co rom c ars ar rseee gra g ained ine ne ed b blac lack lac k cowh owhide de na n ppa pp le ...

  • Page 125
    ...collection. For over 25 years now, the brand with the four rings has been transferring Audi design into objects for customers' everyday use (http://collection.audi.de). No matter whether watches, sunglasses, key rings or cuff links: Even when it comes to lifestyle articles, Audi's simple formula is...

  • Page 126
    ... i ige. ge. e. Chr hr h ro om ome me-p me -pla -pl at ate te t ed fou ountai oun untai ta t ai a in pen. in pen en en. n.

  • Page 127
    ... to adapt the best technologies available for the automotive world," he declared. The car of the future will be connected with the Internet, with the traffic infrastructure and with other vehicles. AUDI AG and Voith GmbH form development partnership In February 2011, AUDI AG and Voith GmbH signed...

  • Page 128
    ... time later, the new Audi A6 Avant was given its first public showing in Berlin (right). Now in its seventh generation, this lightweight trendsetter in the business class is set to continue the brand's success story. Classic car rally Campaign Award for "Magical Moments" In May, AUDI AG received...

  • Page 129
    ... shape of electric mobility. The Audi urban concept was also unveiled, an ultra-lightweight study vehicle for urban driving. Culture Audi hosts classical music concerts Classics to savor: In July, AUDI AG presented an open-air weekend in Ingolstadt's Klenzepark as part of the Summer Concerts. The...

  • Page 130
    ...with the four rings are to be built at a second plant in the southern Chinese city of Foshan. To that end, the German-Chinese joint venture FAW-Volkswagen Automotive Company, Ltd. is to construct a production plant comprising press shop, body shop, paint shop and assembly line on a site covering 100...

  • Page 131
    ... author Rainer Thide, 55, roam the ski slopes of Europe and North America in the cold season in search of the latest tales from the world of winter. "I love the spontaneity of working outdoors. A rain shower or a snow storm can change everything," enthuses Thide. He appears in the photo above, along...

  • Page 132
    ... photographer. Being surrounded by water or snow makes him feel at home. In addition to Audi, his customers include a great many major brand manufacturers. His work entails climbing 15 meters up a ship's mast - or leaping from a helicopter onto a pristine ski slope. "My job is perfect the way it is...

  • Page 133
    ...The number of employees within the Audi Group reached a new record high in 2011. An average of 62,806 people worldwide worked for the Company. Some 1,200 more experts are to be recruited in 2012, mainly in the areas of electric mobility and lightweight construction. Deliveries to customers The Audi...

  • Page 134
    ...deliveries to customers to a new record total of 1,302,659 cars. This corresponds to a rise of 19.2 percent within the space of just one year - the sharpest increase in the history of the Company. Thanks to the steep rise in demand and further improvements to the mix of models and countries, revenue...

  • Page 135
    ... spent annually on new products and technologies alone. The investment measures center on important core competences such as electric driving (Audi e-tron), lightweight construction (Audi ultra) and networked mobility (Audi connect). To realize these ambitious growth plans, the Audi Group will also...

  • Page 136
    ... the Audi Group at December 31, 2011 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 2011 fiscal year Development of fixed assets in the 2010...

  • Page 137
    ...AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungary), develops and builds engines for the Audi brand, for other Volkswagen Group companies and for third parties. Models of the TT car line are also manufactured at the Hungarian plant jointly with Ingolstadt, and the A3 Cabriolet and RS 3 Sportback are assembled...

  • Page 138
    ...Q5, which are supplied to the local market. At Aurangabad (India), the A4 Sedan, A6 Sedan and Q5 models are built for the local market at the VW Group plant. Management Report 134 134 136 140 141 143 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration...

  • Page 139
    ...customers worldwide" The Audi brand's products are compelling examples of the brand values sportiness, progressiveness and sophistication. In addition to building technologically advanced vehicles, the brand with the four rings aims to evoke customer delight in many other ways. The mission statement...

  • Page 140
    ... role in the development of new vehicles. For example, all activities involving electric mobility will be grouped together under the umbrella brand Audi e-tron. Audi ultra embodies the lightweight technology that the Audi brand has been pioneering ever since launching the Audi Space Frame (ASF) in...

  • Page 141
    ... A6 full-size car line, product events included the arrival of the new Q3 premium SUV and the market introduction of the Q5 hybrid quattro. The Audi brand's product range will continue to be progressively expanded. The Audi Group has set itself the goal of increasing deliveries of the Audi brand...

  • Page 142
    ...com/car-news/audi-a1-named-car-of-the-year/254884). Management Report 134 134 136 140 141 143 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for the Supervisory Board and Board of Management Business and underlying situation Financial performance...

  • Page 143
    ...at the start of 2011. Audi trading price trend Audi shares started 2011 trading at EUR 650 and initially remained flat at the start of the year, in line with other German automotive shares. As the year continued, Audi shares were subsequently unable to resist the pattern of dramatic losses on stock...

  • Page 144
    ...last day of trading in 2011, the shares were quoted at EUR 542.05. Looking back over a five-year period, the impressive stability of Audi's business model becomes apparent. The global financial crisis of 2008/2009 undoubtedly influenced the Audi trading price trend, even though the Audi Group itself...

  • Page 145
    ...control and profit transfer agreement exists between AUDI AG and Volkswagen AG, Wolfsburg, as the controlling company. This agreement permits Volkswagen AG to issue instructions. The profit after tax of AUDI AG is transferred to Volkswagen AG. Volkswagen AG is obliged to make good any loss. All Audi...

  • Page 146
    ... 141 143 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for the Supervisory Board and Board of Management Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial...

  • Page 147
    ... economy's loss of momentum in 2011, demand for automobiles in this market showed an upward trend. At 12.8 (11.6) million passenger cars and light commercial vehicles, unit sales were 10.3 percent up on the previous year. Along with the appearance of new vehicle models, growing replacement demand...

  • Page 148
    ... a large number of technological solutions to production maturity in 2011. In 2011, an average total of 7,574 (6,987) people were employed in the Research and Development area of the Audi Group. This total comprised 6,586 (6,365) at AUDI AG, 147 (134) at AUDI HUNGARIA MOTOR Kft. GyÅ'r (Hungary), 216...

  • Page 149
    ... 25 percent compared with the previous model (cf. "Modular efficiency platform" under "Product-based environmental aspects," p. 172 ff.). The 1.8 TFSI engine was also refined in the 2011 fiscal year. This power unit, which is used in a large number of car lines, is an excellent example of sportiness...

  • Page 150
    ... system Audi adaptive cruise control with stop&go function helps to maintain the desired distance from the vehicle in front by automatically accelerating and braking. Audi active lane assist, a driver assistance system that first appeared in 2010 in the Audi A7 Sportback, actively helps the driver...

  • Page 151
    ... vehicle. The Company is also working intensively on the development of new systems. For instance, in future a traffic jam assistant will help the driver to negotiate slow-moving traffic by automatically accelerating and braking, as well as by providing steering assistance. New Audi models awarded...

  • Page 152
    ... car onto the streets in a small series towards the end of the current fiscal year. Management Report 134 143 143 145 151 151 153 159 162 175 187 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial...

  • Page 153
    ...or Audi "e-gas" - an industrial-scale e-gas plant in North Germany is being built in a venture involving renowned project partners. The plant will use surplus wind power to produce e-gas, which can then be used in gas-powered vehicles such as the Audi A3 TCNG, scheduled for launch in 2013. The e-gas...

  • Page 154
    ... part of the cost of sales. This highlights the fundamental importance of procurement for corporate success. Management Report 134 143 143 145 151 151 153 159 162 175 187 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries...

  • Page 155
    ... (216,322) cars in 2011, above all as a result of high demand for the A6 car line and for the A7 Sportback and A8 models. In addition, 117,337 (118,761) parts sets for CKD assembly in China and India were produced there. Automotive production by AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungary), came to 39...

  • Page 156
    ... of the plant expansion at the Hungarian location was officially laid last July. The Audi Group announced that, as well as a body shop, paint shop and assembly line, it is building a new press shop. From 2013, an additional A3 version will be built at GyÅ'r as well as the existing models. The plans...

  • Page 157
    ... overtook Germany as the Audi brand's biggest market for the first time ever. Despite lower overall market demand in Japan following the natural disaster, the Company increased its deliveries by 22.1 percent to 21,059 (17,251) vehicles. DELIVERIES TO CUSTOMERS BY MODEL 2011 Audi A1 Audi A3 Audi A3...

  • Page 158
    ... in 2011. Management Report 134 143 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial performance indicators Social and ecological aspects Risks, opportunities and outlook Disclaimer NEW MODELS OF...

  • Page 159
    ... with ultra-sporty engines. A total of 27,239 (24,908) of the TT car line were delivered in 2011. Audi A4 The improved models of the A4 car line have been on the market since last fall and deliveries to customers commenced at the start of 2012. Not only has the design of the A4 Sedan, A4 Avant, A4...

  • Page 160
    ... the electric motor simultaneously when accelerating rapidly. Management Report 134 143 143 145 151 151 153 159 162 175 187 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial performance indicators...

  • Page 161
    ... the prior-year value. Audi R8 The Audi brand again added to its product range in the supercar segment in 2011, with a limited run of 333 of the R8 GT Coupé delivered from the start of the year. The 5.2 FSI engine developing 412 kW (560 hp) accelerates the top model of the R8 car line from 0 to...

  • Page 162
    ... of the Lamborghini brand were delivered to customers in fiscal 2011. Management Report 134 143 143 145 151 151 153 159 159 161 162 162 175 187 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial...

  • Page 163
    ...similar income. Furthermore, there was a rise in the result from investments accounted for using the equity method thanks to another positive set of business figures for the joint venture FAW-Volkswagen Automotive Company, Ltd., Changchun (China). In all, the Audi Group therefore improved its profit...

  • Page 164
    ...driven mainly by the increase in property, plant and equipment as a result of the expansion of worldwide production capacity. The Audi Group maintained its efforts to develop new products and technologies over the past year, thus increasing total capital investments to EUR 2,970 (2,146) million. The...

  • Page 165
    ...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. Automobili Lamborghini S.p.A. VOLKSWAGEN GROUP ITALIA S.P.A. Employees Apprentices Employees of Audi Group companies Staff employed...

  • Page 166
    ... values. Profit-sharing bonuses are also paid at the sites in Belgium and Hungary. Over 2,500 employees newly recruited AUDI AG took on more than 2,500 employees in fiscal 2011. Some 1,300 of the new hirings strengthen the teams of specialists, in particular in the electric mobility and lightweight...

  • Page 167
    ... popular among engineers already in employment. AUDI AG was ranked second in the study entitled "The German Professional Survey 2011" by Universum, published on December 5, 2011. Furthermore, AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungary), was again voted the country's "Most attractive company" in fiscal...

  • Page 168
    ... 175 187 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Employees Audi in society Location-based environmental aspects Product-based environmental aspects Risks, opportunities and outlook Disclaimer Health, job and family The Company has...

  • Page 169
    ... for many years. On their career pathway to management, female employees are supported as part of a mentoring program. In addition to optimizing the basic framework for making working and family life compatible, the Company is planning other supporting measures. PROPORTION OF WOMEN AT AUDI AG...

  • Page 170
    ... Research; Marketing, Electric Mobility, Design, IT LO C AT IO N - B A S E D E N V I RO N M E N TA L A S P E C T S As a company that operates worldwide, the Audi Group actively embraces the principle of social responsibility. The idea of sustainable management, which rests on reconciling economy...

  • Page 171
    ... (India) and Changchun (China) are all accredited in accordance with the worldwide DIN EN ISO 14001 standard. ACCREDITATION OF AUDI GROUP LOCATIONS Brussels/Belgium AUDI BRUSSELS S.A./N.V. Ingolstadt/ Germany AUDI AG DIN EN ISO 14001 DIN EN 16001 GyÅ'r/Hungary AUDI HUNGARIA MOTOR Kft. DIN EN ISO...

  • Page 172
    ... volume. A large number of efficiency measures meant that it increased at a lower rate than the production volume. The other key environmental figures that the Audi Group observes in addition to energy consumption also reflect the increased production volume. ENVIRONMENTAL STRUCTURAL DATA 1) 2011...

  • Page 173
    ..., it ships its cars from the Company headquarters in Ingolstadt to Emden, the port of loading on the North Sea coast, by trains running on power generated from renewables. Photovoltaic systems are also in use at numerous locations throughout the Audi Group. In addition, AUDI AG has entered into...

  • Page 174
    .... The Audi brand is also planning to start production of its first natural-gas vehicle in 2013, the Audi A3 TCNG. Management Report 134 143 159 162 162 166 167 170 175 187 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Employees Audi in...

  • Page 175
    ...Assistance systems â-º Economical route guidance â-º Dynamic congestion avoidance â-º Gear-change indicator â-º Audi adaptive cruise control with stop&go function â-º LED daytime running lights â-º Driver information system with efficiency program â-º Audi drive select with "efficiency" mode Engines...

  • Page 176
    ... and S8 models available from summer 2012. CYLINDER ON DEMAND TECHNOLOGY IN THE NEW AUDI S8 Speed Stop at traffic lights Acceleration Constant-speed driving Innovative thermal management A cold start at low temperatures entails significant efficiency losses because more energy input is...

  • Page 177
    .... The Audi brand boasts a long and successful track record in lightweight construction. Most notably its Audi Space Frame (ASF) technology proved a trailblazing development when it was launched on the Audi A8 in 1994, the world's first volume-built vehicle with unitary aluminum body. The Company has...

  • Page 178
    ... the Audi A1 and A3 car lines post the best value of 99 g COâ,,/km. Management Report 134 143 159 162 162 166 167 170 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Employees Audi in society Location-based environmental aspects Product...

  • Page 179
    ...the Audi Group. The effectiveness of the early warning system for risks is assured by an ongoing, structured exchange of information between Central Risk Management and non-central risk managers. Improved risk management serves to place the business model on more stable footing. It thus supports the...

  • Page 180
    ...the incoming data material and cross-checking the content of the Balance Sheet and Income Statement. VoKUs also assists with the conducting of other plausibility checks on the data material. Management Report 134 143 159 162 175 175 183 183 187 Audi Group Business and underlying situation Financial...

  • Page 181
    ...The Board of Management and Supervisory Board are informed of topical developments both according to a regular cycle and ad hoc. Individual risks The Audi Group encounters a large number of individual risk areas within the context of its business activities. The risks highlighted in each case refer...

  • Page 182
    ... energy and production costs, but also pushes up fuel prices and therefore ultimately makes customers more reluctant to buy cars. The Audi Group aims to respond to growing calls for efficiency by swiftly developing and introducing fuel economy technologies for conventional combustion engines...

  • Page 183
    ...production process could also be caused by delayed delivery or nondelivery as a result of tool breakage, losses from natural disasters and strikes at suppliers or in the transportation sector. The Audi Group uses detailed selection, monitoring, steering and supporting processes to minimize financial...

  • Page 184
    ..., technologies or services. The development of new vehicles and technologies entails further risks. In addition to delays and changes to the product at short notice, the loss of expertise to service providers outside the Group can adversely affect the Audi Group's business activities. The Company...

  • Page 185
    ... the labor market in Germany continues to change as a result of an aging, shrinking population. The Audi Group responded early on to demographic change and took appropriate action. Human resources management focuses on adapting working conditions to suit an employee's age, developing models for the...

  • Page 186
    ... Company expects India's economy to gather pace a little. The Japanese economy should continue to recover from the natural disaster of March 2011 in the course of 2012. The upward trend will probably become more solid in 2013. 187 The car industry The Audi Group expects worldwide demand for cars...

  • Page 187
    ..., the upward trend in demand for cars will probably continue in 2012 and 2013. However, the market's development will continue to be held back by lenders' restrictive practices for vehicle financing and by high fuel prices. The Audi Group believes that demand for cars in the Asia-Pacific region...

  • Page 188
    ... date events Report on expected developments Disclaimer Anticipated financial performance The planned increases in deliveries in 2012 and 2013 mean that the Audi Group's revenue will also rise. Despite higher expenses for new models, technologies and expanded production structures, the Audi Group...

  • Page 189
    ... activities. The purpose of all investment measures is to lastingly strengthen the Company's competitive position. Anticipated development of the workforce In line with the Company's plans for growth, the number of employees at the Audi Group will rise still further in 2012 and 2013. Opportunities...

  • Page 190
    ... future developments The past fiscal year proved very successful for the Audi Group. New record production, vehicle deliveries and key financial indicators emphasize the Company's high competitiveness and profitability. Even after taking present challenges into account, the Board of Management...

  • Page 191
    ... Financial Statements of the Audi Group at December 31, 2011 Income Statement of the Audi Group EUR million Revenue Cost of sales Gross profit Distribution costs Administrative expenses Total other operating income Total other operating expenses Operating profit Result from investments accounted...

  • Page 192
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 193
    ... Sheet 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...

  • Page 194
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 195
    192 Statement of Changes in Equity of the Audi Group EUR million Issued capital Capital reserve Position as of Jan. 1, 2010 Profit after tax Other result after tax Overall result Capital increase Profit transfer to Volkswagen AG Capital transactions producing a change of participating interests ...

  • Page 196
    ...Reserve for cash flow hedges 412 - - 316 - 316 - - - 97 97 - - 666 - 666 - - - 569 Reserve for remeasurement to fair value of securities -4 - -7 -7 - - - - 11 - 11 - 10 10 - - -1 Actuarial gains and losses - 206 - - 131 - 131 - - -9 - 346 - 346 - - 101 - 101 - - - 447 Investments accounted for using...

  • Page 197
    ... Other plant and office equipment, as well as leased plant and office equipment Payments on account and assets under construction Investment property Investments accounted for using the equity method Other long-term investments Investments in affiliated companies Shares in associated companies and...

  • Page 198
    ... 3,176 3 1 458 75 - 962 - Changes in group of consolidated companies Cumulative depreciation and amortization Dec. 31, 2011 2,751 Carrying amounts Currency changes Additions, scheduled Additions, unscheduled Transfers Disposals Writeups Dec. 31, 2011 Dec. 31, 2010 2,531 2,357 444 - 64 2,668...

  • Page 199
    ... Changes in group of consolidated companies Changes from measurement at equity Transfers Gross carrying amounts Costs Jan. 1, 2010 Intangible assets Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Goodwill Capitalized development costs, products...

  • Page 200
    197 Value adjustments in gross carrying amounts Cumulative depreciation and amortization Jan. 1, 2010 2,512 5 1 531 210 1 26 58 Changes in group of consolidated companies Cumulative depreciation and amortization Dec. 31, 2010 3,176 Carrying amounts Currency changes Additions, scheduled ...

  • Page 201
    ... the Company is the development, production and sale of motor vehicles, other vehicles and engines of all kinds, together with their accessories, as well as machinery, tools and other technical articles. ACCO U N T I N G P R I N C I P L E S AUDI AG prepares its Consolidated Financial Statements on...

  • Page 202
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 198 201 202 203 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information Accounting principles...

  • Page 203
    ... 1 Presentation of Financial Statements Deferred Tax: Realization of Underlying Assets Employee Benefits Jun. 16, 2011 Jan. 1, 2013 No IAS 12 IAS 19 Dec. 20, 2010 Jun. 16, 2011 Jan. 1, 2012 Jan. 1, 2013 No No IAS 27 IAS 28 IAS 32 Separate Financial Statements Investments in Associates and...

  • Page 204
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 198 201 202 203 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information Accounting principles...

  • Page 205
    ... of the domestic and foreign companies included in the Consolidated Financial Statements are recognized in accordance with the standard accounting and measurement policies of the Audi Group. In the case of subsidiaries that are being consolidated for the first time, the assets and liabilities are...

  • Page 206
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information Accounting principles Group...

  • Page 207
    ...on a straight-line basis over the period between sale and buy-back, on the basis of the difference between the selling price and the anticipated buy-back price. These vehicles are reported under inventories. Operating expenses are recognized as income when the service is used or at the time they are...

  • Page 208
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 204 204 205 205 206 206 206 209 209 209 210 210 210 210 210 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year...

  • Page 209
    ... of the useful value of the Group's automotive business as a cash flow-generating unit. The current planning prepared by management provides the basis for this process. As a general rule the planning period covers a period of five years. Plausible assumptions about future development are made for...

  • Page 210
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 204 204 205 205 206 206 206 209 209 209 210 210 210 210 210 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year...

  • Page 211
    ... value through profit or loss." Rights to acquire shares in companies, and the model for dealer hedging against potential losses from buy-back obligations for leased vehicles, are also reported in accordance with the rules for "financial instruments measured at fair value through profit or loss."

  • Page 212
    ... within one year (owing to buy-back agreements). These vehicles are capitalized at cost of sales and valued in accordance with the expected loss of value and likely useful life. Based on local factors and historical values from used car marketing, updated internal and external information is...

  • Page 213
    ... contents: Impairment testing of non-financial assets (particularly goodwill, brand names and capitalized development costs) and of investments accounted for using the equity method or at the cost of purchase requires that assumptions be made with regard to future cash flows during the planning

  • Page 214
    ... Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 204 204 205 205 206 206 206 209 209 209 210 210 210 210 210 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year...

  • Page 215
    ... Audi brand Lamborghini brand Other Volkswagen Group brands Vehicle sales Other car business Revenue 2011 34,456 268 3,444 38,168 5,928 44,096 2010 27,423 227 3,047 30,697 4,744 35,441 Vehicle revenue includes proceeds from the Audi Group from the sale of vehicles of the Audi and Lamborghini brands...

  • Page 216
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 217
    ... 2010 49 45 5 -1 -3 2 - 98 157 99 261 261 368 Income from investments primarily relates to a share in the profits of Volkswagen Logistics GmbH & Co. OHG, Wolfsburg. Income and expense from the fair value measurement of derivative financial instruments comprise the ineffective portions of cash flow...

  • Page 218
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 219
    ... year. In the case of AUDI AG, the diluted earnings per share are the same as the basic earnings per share, since there were no potential shares of AUDI AG in existence at either December 31, 2011 or December 31, 2010. 2011 Profit share of AUDI AG stockholders (EUR million) Weighted average number...

  • Page 220
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 221
    ... Impairment losses (reversals) on capitalized development costs Total 2011 2,243 397 2,641 2010 1,901 567 2,469 A total of EUR 2,839 (2,531) million was spent on research and development during the 2011 fiscal year. Of this total, EUR 596 (630) million fulfilled the capitalization criteria set out...

  • Page 222
    ...Investments in affiliated companies Shares in associated companies and participating interests Total Dec. 31, 2011 143 100 244 Dec. 31, 2010 106 73 180 Consolidated Financial Statements 188 189 190 191 192 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement...

  • Page 223
    ... in the fiscal year. Of the finished goods inventory, a portion of the company car fleet valued at EUR 227 (180) million has been pledged as collateral for commitments toward employees, in particular under the partial early retirement block model. The other reported inventories are not subject...

  • Page 224
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 222 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 225
    ...banks Liabilities from financial lease agreements Total Dec. 31, 2011 1,001 158 12 1 1,172 Dec. 31, 2010 714 88 8 - 810 Measurement of the non-current and current financial lease agreements is based on market interest rates in each case. The carrying amounts correspond to the fair values due to the...

  • Page 226
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 222 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 227
    ...3,218 2010 2,681 12 80 142 + 180 - 87 -2 -5 1 3,001 The reconciliation for the fair value of the plan assets is as follows: EUR million Plan assets on January 1 Changes in the group of consolidated companies and first-time adoption of IAS 19 Expected return on plan assets Actuarial gains (+)/losses...

  • Page 228
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 222 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 229
    ... from other provisions are 40 percent in the following year, 50 percent in the years 2013 through 2016 and 10 percent thereafter. The provisions developed as follows: Changes in the group of Currency consolidated Utilidifferences companies zation 31 1 6 37 4 0 0 5 1,425 146 113 1,683 Interest effect...

  • Page 230
    ...Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 231
    ... value through profit or loss Available for sale Loans and receivables Measurement of financial instruments at fair value is based on a three-level hierarchy and on the proximity of the measurement factors used to an active market. An active market is one in which homogenous products are traded...

  • Page 232
    ..., but are extrapolated. During the previous year, rights to acquire shares in companies were also assigned to fair value level 3, at which input factors that are not derived from active markets can be used for measurement. The fair values of financial assets within the "measured at amortized cost...

  • Page 233
    ...per Balance Sheet as of Dec. 31, 2010 ASSETS Non-current Other long-term investments Other receivables and assets of which from positive fair values of derivative financial instruments of which miscellaneous other receivables and assets Current Trade receivables Other receivables and assets of which...

  • Page 234
    231 Assignment to IAS 39 categories Financial liabilities measured at amortized cost Measured at fair value No IAS 39 category allocated Level 1 Level 2 Level 3 Division into classes of IFRS 7 Measured at amortized cost Not under scope of IFRS 7 - 345 18 - 136 ...

  • Page 235
    ... Note 34.4, "Market risks." Risks resulting from fair value fluctuations in the derivative financial instruments measured according to level 3 are calculated within the Audi Group by means of sensitivity analyses. In this way, effects of changes in commodity price listings on profit and equity are...

  • Page 236
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 237
    ... down as follows for the 2011 and 2010 fiscal years: Specific value adjustment 94 0 19 - 10 -6 98 Specific value adjustment 98 6 12 - 18 -3 94 EUR million Position as of January 1 Addition as of January 1 from changes in group of consolidated companies Addition Utilization Dissolution Position as...

  • Page 238
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 239
    ... to the Audi Group. In accordance with the Volkswagen organizational guideline, AUDI AG additionally concludes hedging transactions of its own to a limited extent, where this helps to simplify current operations. Marketable derivative financial instruments (foreign exchange contracts, currency...

  • Page 240
    ... changes in value of the hedging transactions on equity and on profit after tax. Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information Recognition...

  • Page 241
    ... year's figures have been adjusted accordingly for the purposes of comparison. The sensitivity analyses carried out enabled the following other market risks to be quantified for the Audi Group: Data in Fund price risks Change in share prices Effects on equity capital Commodity price risks Change...

  • Page 242
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 243
    ... capital increases in the case of non-consolidated subsidiary companies. The acquisition of investments in other participating interests resulted in an outflow of EUR 27 (63) million. Cash flow from financing activities includes cash used for the transfer of profit, as well as changes in financial...

  • Page 244
    ... Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 245
    ... Board of Volkswagen AG, - associated companies, - non-consolidated subsidiaries. The volume of transactions with the parent company, Volkswagen AG, and with other subsidiaries that do not belong to the Audi Group is presented in the following overview: EUR million Sales and services supplied...

  • Page 246
    ... the German state of Lower Saxony and to companies in which the state of Lower Saxony holds a majority stake. A full list of the supervisory board mandates of members of the Board of Management and Supervisory Board of AUDI AG is presented in the 2011 Annual Financial Report of AUDI AG. The service...

  • Page 247
    ..., the following financial and economic key figures (also on a Group basis): 2011 Profit before tax Deliveries to customers - Audi brand Audi brand sales Audi brand production Investments in property, plant and equipment and intangible assets (excluding development work and financial leasing) Capex...

  • Page 248
    ...work Impairment losses on long-term investments Depreciation of leased assets Total 2011 1,395 397 - 1 1,793 2010 1,542 626 1 1 2,170 194 196 198 204 212 218 227 248 249 The Audi Group primarily generates revenues from the sale of cars. In addition to the Audi brand, sales also comprise vehicles...

  • Page 249
    ... in 2011. In 2012, the performance of the 2010 and 2011 fiscal years will be taken into account; in 2013, the performance of 2010 to 2012 will be considered. From 2014 onward, the preceding four years will be used as a basis. Under certain circumstances, members of the Board of Management are...

  • Page 250
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 194 196 198 204 212 218 227 248 249 Development of fixed assets in the 2011 fiscal year Development of fixed assets in the 2010 fiscal year General information...

  • Page 251
    ... 4) Employee representative 5) Employee representative Employee representative Honorary Chairman 1) The profession and company of the members of the Supervisory Board, together with other non-executive directorships, are presented in the Notes to AUDI AG's Annual Financial Report. 2) Member of...

  • Page 252
    ... held by the Audi Group for the fiscal year ended December 31, 2011 P R I N C I PA L G RO U P CO M PA N I E S Consolidated Financial Statements 188 189 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Name and registered...

  • Page 253
    ... with the applicable reporting principles, 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...

  • Page 254
    ...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 January 1 to December 31, 2011...

  • Page 255
    ..., 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 internal controlling systems...

  • Page 256
    ... of the remuneration system for the members of the Supervisory Board and Board of Management are outlined in the Notes to this Annual Report under "Details relating to the Supervisory Board and Board of Management." This information is also available on the Company's website (www.audi.com/notes...

  • Page 257
    ...too, the focus is on training and informing employees. R I S K M A N AG E M E N T Considerable importance is attached to a cautious approach to potential risks within the Audi Group. The Group-wide risk management system implemented for this purpose helps to identify and minimize risks, and exclude...

  • Page 258
    ... above website. This document contains a detailed list of all communications published in fiscal 2011 relating to the capital market. Communications relating to share dealings by management members pursuant to Section 15a of the German Securities Trading Act (WpHG) can be called up at www.audi.com...

  • Page 259
    ... Mandate: ƒ Volkswagen Financial Services AG, Braunschweig In connection with their duties of Group steering and governance within the Audi Group, the members of the Board of Management in addition hold supervisory board seats at Group companies and significant associated companies. ƒ Membership...

  • Page 260
    ...the ASB Group, Ludwigsburg Mandates:  Automobili Lamborghini S.p.A., Sant'Agata Bolognese, Italy  Scania AB, Södertälje, Sweden Heinz Eyer (54) Member of the Works Council of AUDI AG, Neckarsulm plant Dr. rer. pol. h. c. Francisco Javier Garcia Sanz (54) 1) Member of the Board of Management of...

  • Page 261
    ... (62) 1) Member of the Board of Management of Volkswagen AG, Wolfsburg Mandate: ƒ Wolfsburg AG, Wolfsburg Dr.-Ing. Franz-Josef Paefgen (65) Former Chairman and Chief Executive of Bentley Motors Ltd., Crewe, United Kingdom Mandates: ƒ ZF Friedrichshafen AG, Friedrichshafen  Automobili Lamborghini...

  • Page 262
    ... Works Council of AUDI AG, Ingolstadt plant Max Wäcker (57) Deputy Chairman of the Works Council of AUDI AG, Ingolstadt plant Corporate Governance Report 253 253 254 254 255 255 Corporate governance Corporate management declaration Compliance Risk management Communication and transparency System...

  • Page 263
    260 Fuel consumption and emission figures As at: February 2012 (all data apply to features of the German market) Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined 5.1 5.3 5.2 5.3 5.9 3.8 4.2 3.8 4.1 5.1 5.4 5.3 5.9 3.8 4.2 3.8 5.5 5.3 5.7 5.3 6.6 ...

  • Page 264
    ... Audi A4 Sedan A4 1.8 TFSI A4 1.8 TFSI A4 1.8 TFSI A4 1.8 TFSI A4 1.8 TFSI quattro A4 2.0 TFSI flexible fuel A4 2.0 TFSI quattro flexible fuel A4 2.0 TFSI A4 2.0 TFSI quattro A4 2.0 TFSI quattro A4 3.0 TFSI quattro A4 2.0 TDI A4 2.0 TDI A4 2.0 TDI A4 2.0 TDI A4 2.0 TDI A4 2.0 TDI A4 2.0 TDI A4...

  • Page 265
    ...Audi A4 Avant A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI quattro A4 Avant 2.0 TFSI flexible fuel A4 Avant 2.0 TFSI quattro flexible fuel A4 Avant 2.0 TFSI A4 Avant 2.0 TFSI quattro A4 Avant 2.0 TFSI quattro A4 Avant 3.0 TFSI quattro A4 Avant 2.0 TDI A4...

  • Page 266
    ... 2) Audi A6 allroad quattro A6 allroad quattro 3.0 TFSI A6 allroad quattro 3.0 TDI A6 allroad quattro 3.0 TDI A6 allroad quattro 3.0 TDI 180 245 331 125 125 155 155 155 200 105 130 130 130 150 180 245 132 155 155 199 105 105 125 125 S tronic, 7-speed S tronic, 7-speed S tronic, 7-speed 6-speed...

  • Page 267
    ... 6-speed e-gear, 6-speed 6-speed e-gear, 6-speed ISR, 7-speed 1) Contains restrictions with regard to optional extras. 2) This model is not yet on sale. It does not yet have type approval and therefore does not comply with Directive 1999/94/EC. 3) Total system output (briefly) Further information...

  • Page 268
    10-Year Overview 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...

  • Page 269
    ...,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 2010 1,150,018 1,648,193 2011 1,365,499 1,884,157 1,045,114 829,109 247,125 581,984 70.2 7.4 1,600 214,405 52,412 1,135,554 905,188 257...

  • Page 270
    AUDI AG 85045 Ingolstadt Germany Phone +49 841 89-0 Fax +49 841 89-32524 email [email protected] www.audi.com Financial Communication/ Financial Analysis I/FF-3 Phone +49 841 89-40300 Fax +49 841 89-30900 email [email protected] www.audi.com/investor-relations

  • Page 271
    2012 Financial Calendar Quarterly Report, 1st quarter May 2, 2012 Annual General Meeting May 10, 2012 Audi Forum Ingolstadt Interim Financial Report July 31, 2012 Quarterly Report, 3rd quarter October 29, 2012