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2012 Annual Report
Audi
My Audi |
Pure passion.
2012 Annual Report
Audi
My Audi |
Pure passion.

Table of contents

  • Page 1
    2012 Annual Report Audi My Audi | Pure passion.

  • Page 2

  • Page 3
    Audi Group Key Figures 2012 Production Automotive segment Motorcycles segment Deliveries to customers Automotive segment Audi brand Germany Outside Germany Lamborghini brand Other Volkswagen Group brands Motorcycles segment Ducati brand Workforce Revenue EBITDA 3) Operating profit Profit before tax...

  • Page 4
    ... the Audi Group's over 68,000 employees managed to share their enthusiasm with every one of our customers. For that reason, we have chosen the motto "My Audi - Pure passion" for this Annual Report. 2012 will go down in the history of the Company as a year of significant growth and major successes...

  • Page 5
    ... trend - with dynamic demand in the United States, China and Russia acting as the principal driver. The Audi brand delighted its customers with an extensive product range in the past fiscal year. 2012 saw the addition of attractive models such as the new­generation A3 and the compact five­door A1...

  • Page 6
    ... in 2012. At those meetings it approved the further stream­ lining of retail business within the Volkswagen Group, the construction of a plant in Mexico, the acquisition of all shares in DUCATI MOTOR HOLDING S.P.A and personnel changes on the Board of Management. All Supervisory Board members were...

  • Page 7
    The Board of Management 4 Prof. Rupert Stadler Chairman of the Board of Management Luca de Meo Marketing and Sales Dr. Bernd Martens Procurement PHOTOS | JIM RAKETE

  • Page 8
    5 Dr. Frank Dreves Production Wolfgang Dürheimer Technical Development Prof. h. c. Thomas Sigi Human Resources Axel Strotbek Finance and Organization

  • Page 9
    110 28 50 Contents Fuel consumption and emission figures at the end of the Annual Report 118 10 82 P H OTO S | S T E V E H E R U D , J O H N T E N N E R ; A N D R E W M O LY N E U X ; A N D R A / TA N K M A N A G E M E N T ; S T E FA N - WA RT E R . CO M ; U L R I K E M Y R Z I K ; S T E FA N...

  • Page 10
    ... of fans meet on the Adriatic coast for World Ducati Week. 82 The fascination of carmaking How an Audi takes shape: a visit to the Ingolstadt plant. 94 Culture in the press shop Stars from Till Brönner to Olga Scheps celebrate "50 Years of Culture at Audi." My Experience 100 "Development is...

  • Page 11
    ... and informative content. Website Every Annual Report article as well as many additional highlights such as interviews, sound files, photo galleries and videos are available on our web­ site. Experience how production oper­ ates like clockwork at the Ingolstadt plant, how customers at Audi City...

  • Page 12
    ... tour of the Audi production plant in Ingolstadt. 360-degree panoramic views and a host of videos will provide you with detailed insights into how an Audi is built - from the press shop through to final inspection. Navigate the highlights of the multimedia Audi Annual Report. A version of the...

  • Page 13
    10 My Audi Moments Around the world with Audi Dennis Wong Vancouver +++ Canada +++ 49° 15' North, 123° 6' West +++ Jackie Lefave Los Angeles +++ USA +++ 34° 3' North, 118° 15' West +++ Teresa Lopez Santa Ana +++ Mexico +++ 30° 32' North, 111° 7' West +++ Paulo Armani Salvador da Bahia ...

  • Page 14
    ... The photo expedition presents Audi customers and employees from Vancouver to Melbourne - and shows the passion people have for the four rings all over the world. Follow us on this journey through the Audi universe! Maximilian So Hong Kong +++ China +++ 22° 16' North, 114° 8' East +++ Johannes...

  • Page 15
    ..., China As a hotel manager, I deal with people from all over the world every day. Even if they come to Hong Kong for just a short stay, I want them to feel comfortable in our hotel. Everyone has a different definition of home and comfort. For me, they are both linked - my home zone starts in my car...

  • Page 16
    13 Hong Kong

  • Page 17
    ... from the Audi Center Melbourne. I find Audi to be a terrific brand - and a terrific employer. Gabrielle: Audi sets the standard for high-quality sportiness and advanced technology. I have a real passion for Audi because its visions and innovations make it such a fascinating company. To me, Audi is...

  • Page 18
    15 Melbourne

  • Page 19
    ... quite demanding when I'm buying any new product - and all the more so when I'm buying a car, of course. The Audi It's ideal for city traffic, but also for long drives. And its safety and assistance systems have already...emission figures am Ende at the des end Geschäftsberichts of the Annual Report

  • Page 20
    ...; my girlfriend and I had never traveled so comfortably. For me, Audi means comfort. My Audi Ekaterina Stalmakova St. Petersburg, Russia When I start my Audi A4, it thrills me every time I'm able to step on the gas. People who are not as crazy about their cars would say it's chic and modern...

  • Page 21
    18 My Audi Subramanian Panchapakesan Balasubramanian Mumbai, India A few years ago I rode as a passenger in an Audi A8 in Germany. That's when I made up my mind: If I ever buy a absolute head-turner. I'll never forget the first time I drove my family out for dinner in it. The girls enjoyed it, but ...

  • Page 22
    19 Mumbai

  • Page 23
    ... so much power that I can easily handle many hindrances in traffic. It's just the way I like it: sporty, agile and elegant. For me, Audi means dynamics. Los Angeles Verbrauchs­ Fuel consumption und Emissionsangaben and emission figures am Ende at the des end Geschäftsberichts of the Annual Report

  • Page 24
    ... stands for quality. Tangier My Audi Teresa Lopez Santa Ana, Mexico I'm a romantic and I love the beautiful things in life: parties with friends, evenings with lots of music. My A5 Cabriolet reminds me of many experiences I've had with people who are important to me. As a result, Audi also shapes...

  • Page 25
    ... When I'm driving in my A1 and traveling, for instance, with my family along the beaches near our city, many people turn and watch the car go by. I have to admit, I enjoy that a lot! In my eyes, Audi achieves the perfect balance between performance and luxury. The best part of my A1? That's the...

  • Page 26
    23 Salvador da Bahia

  • Page 27
    ...Canada What I especially like about my TTS Roadster is its efficiency and its outstanding handling, even in city traffic. And I love the special combination of the Scuba Blue metallic color with the Madras Brown Baseball Optic Leather. I open the roof, put my favorite music on - and then I'm off for...

  • Page 28
    25 Vancouver

  • Page 29
    ...: Customers at Audi City London configure the smallest details of their Audi cars virtually on large display screens. The modelers at the Audi Model Studio convert design sketches into And race engineer Leena Gade has led Audi three-dimensional figures. racing drivers to victory at Le Mans for...

  • Page 30

  • Page 31
    My Perfection 28 Text | Thilo Komma-Pöllath PHOTO At Audi City in the heart of London, clients can customize their own Audi virtually, playfully turning their dream car into reality. | A N D R E W M O LY N E U X

  • Page 32
    29 Audi City London A showroom for the senses

  • Page 33
    ..., 19-inch wheels and an Alcantara/leather trim in Titanium Gray. More than three million configuration options are available for each of the over 40 Audi models. To work through all of them would take 44 years, says Nogues. Oliver Relaxed car shopping: At Audi City London, customer adviser Romain...

  • Page 34
    ... Since opening in July 2012, Audi City has sold 65 percent more cars year on year than the former Audi Forum London, many of them going to first­ time customers. For clients wishing to test­drive an Audi, Leckie's staff will provide the required model within 24 hours. "Audi City is a success story...

  • Page 35
    ... Perfection 32 Heading for the finish (below): In the Customer Private Lounge, the Smiths sign the contract for the Q3 with Romain Nogues (left) and Paul Weir (2nd from left), Senior Sales Executive at Audi City London. Fuel consumption and emission figures at the end of the Annual Report PHOTOS...

  • Page 36
    ... attitude. Amit Sood is a case in point. A native of India, he spent eight years at Apple as an IT manager. He does not have a classic automobile background, says Sood, adding that he doesn't need one, either. His job is to help customers on their way into the virtual car world even though they may...

  • Page 37
    My Perfection 34 Text | Fred Sellin Perfectly shaped A steady hand, an eye for detail and the unwavering will for precision: These traits characterize the clay modelers who take the ideas of the designers and CAD modelers and bring them into the third dimension. MANFRED JARISCH PHOTO |

  • Page 38
    35

  • Page 39
    ... 36 Is the line correct? The work on the clay model demands absolute concentration from modeler Joachim Müller (left). Everything must be just right: Some details have to be revised again and again (top right). The modelers confer regularly with the Audi designers as they work (bottom left...

  • Page 40
    37

  • Page 41
    My Perfection 38 A practiced team: Interior specialists Andreas Sommer (left) and Thomas Walther work on a cockpit concept at the Audi Model Studio. PHOTOS | MANFRED JARISCH

  • Page 42
    ... and the shapes, proportions and effects of lighting can be assessed realistically. "We give the idea a physical form, we make it tangible," is how Müller describes the special aspect of his work. He considers himself a technical artist. "With sketch modeling, in particular, you only have a few...

  • Page 43
    ... and remodeled. "This enables us to make corrections quickly and easily at any time," says Müller. The creation of the model is a process of constant changes in which the modelers and designers work in close collaboration from beginning to end. "We are in constant dialogue," adds Müller. "Tomorrow...

  • Page 44
    ...within the Volkswagen Group enable us to do just that. Together we develop key technologies in the supplier network. Modular platforms give us huge procurement volumes in an overall portfolio of 12 brands and more than 220 models. Nevertheless, we are able to create differentiation in every Audi and...

  • Page 45
    My Perfection 42 Text | Alexander von Wegner PHOTO | AUDI AG

  • Page 46
    43 pace Leena Gade is the first female race engineer in the history of Le Mans to lead a team to victory - for Audi. She did it for the second time in 2012. What drives the British woman? A woman sets the

  • Page 47
    ... few years ago I would never have dreamed that I would be working with such a high-tech vehicle." Leena Gade with reference to the Audi R18 e-tron quattro, the winning car at Le Mans in 2012. Running the team on a laptop: Leena Gade monitors the performance of "her" boys at the 12 Hours of Sebring...

  • Page 48
    45 Total commitment for the No. 1 Audi: Leena Gade is constantly thinking about how to get the optimum out of the Audi R18 e-tron quattro, whether on the track in Bahrain (top left), at Le Mans (bottom left) or at Silverstone (bottom right).

  • Page 49
    ...: first hybrid race car; first victory for a hybrid in the 24 Hours of Le Mans, which has been held since 1923; first title in the FIA WEC World Championship for endurance racing, which was first held in 2012. Does perfectionism help to master the complex tasks her job demands from her? "I wish...

  • Page 50
    ... Board of Management of AUDI AG, with the "Golden Victoria for the Entrepreneur of the Year" (VDZ press release, October 19, 2012). Back in May, WirtschaftsWoche had named Stadler "CEO of the Year" (issue 21/2012, p. 72 ff.). The performance of the CEOs of the 115 largest publically-traded companies...

  • Page 51
    ... Audi Lightweight Design Center outline urban visions. And the architects who are in their unceasing quest for new solutions. planning the cities of the future as part of the Audi Urban Future Initiative. » » » » V My View Fuel consumption and emission figures at the end of the Annual Report...

  • Page 52

  • Page 53
    My View 50 Text | Arne Gottmann Fuel consumption and emission figures at the end of the Annual Report PHOTO | A N D R A /TA N K M A N A G E M E N T

  • Page 54
    51 Eva's day in A day off in the French metropolis is a rare luxury for a very busy top model such as Eva Padberg. So she chose a knowledgeable companion to help her make the most of her day: the Audi A3 Sportback with MMI Navigation plus and Audi connect. Paris

  • Page 55
    My View 52 Relaxing break: Eva Padberg drinking tea in one of the Bastille neighborhood's charming cafés. The model then picks up her car key to continue her very own "Tour de Paris." Fuel consumption and emission figures at the end of the Annual Report PHOTOS | A N D R A /TA N K M A N A G E M...

  • Page 56
    53 A magnificent home to art and culture, the Grand Palais is impossible to overlook - once you have found it, that is. But Eva Padberg easily finds her way through the French capital thanks to MMI Navigation plus and Audi connect.

  • Page 57
    ... in her Audi A3 Sportback. But as a pedestrian you need to be quick when confronted with heavy traffic on the boulevard. A suitable companion at night, as well: top model Padberg in evening wear at the Place Dauphine. Fuel consumption and emission figures at the end of the Annual Report PHOTOS...

  • Page 58
    ...touchwheel's surface. The MMI transcribes her handwriting into capital letters on the screen and, within seconds, the navigation system calculates the best route. And just like that, the top model is taking the shortest route to the street that is home to one designer shop and boutique after another...

  • Page 59
    ...Audi connect services ensure that onboard connectivity is better than ever. Superb screen When the MMI operating system starts up, the high-resolution screen automatically emerges from the instrument panel and then tilts slightly toward the driver. In the topof-the-line version, MMI Navigation plus...

  • Page 60
    ... from Google Street ViewTM or other online sources. Everything at a glance The control menu of the MMI Navigation plus in the Audi A3 is clear and straightforward. It grants access to telephone functions, the navigation system, radio and media center. Audi connect services are combined in a menu of...

  • Page 61
    58 Editor | Hanna van der Velden My View city advocates The PHOTOS | D E T K E M P K E /D O U B L E T P H OTO G R A P H E R S

  • Page 62
    59 Audi and Columbia University are looking ahead to the year 2050. Prof. Rupert Stadler (left), Chairman of the Board of Management of AUdi AG, and urban planning expert Prof. Mark Wigley on cities and the mobility of the future.

  • Page 63
    ...urban structures. But we have to start looking beyond the horizon of our own product world," says the Audi CEO. "The networking of people and mobility systems is becoming increasingly important. It is only a matter of time before cars, buildings and roads communicate with one another." Prof. Rupert...

  • Page 64
    ...your time in a completely connected car that drives itself, i.e. writing e­mails, scheduling appointments or making conference calls." The assistance systems of tomorrow not only support the driver in key ways, they also enhance safety. The car of tomorrow can also find its own parking space - the...

  • Page 65
    ... in the competition are tasked with designing concepts for mobility and urban living. Mark Wigley is taken with this idea. He considers the networking of people and mobility systems to be tremendously important. "If you look at the world's large cities, mobility is becoming in­ creasingly diverse...

  • Page 66
    ... city of the future, we therefore have to consider buildings and cars to be shared parts of the infrastructure, perhaps even the most important elements of a new, dynamic system." Dynamic in this case means variable, diverse and shared. A system for sharing, in which no longer ownership but rather...

  • Page 67
    My View 64 Text | Thomas Ammann Every gram counts: The body of the Audi TT ultra concept represents the future of Audi lightweight construction. PHOTO | PICTURE-SERVICE GMBH The ultra

  • Page 68
    ... construction to the next dimension: The Audi TT ultra concept technology platform embodies Audi's intelligent composite construction in its ideal form. But the Audi lightweight construction strategy already pays off in series production, too - each new model should be lighter than its predecessor.

  • Page 69
    ... kilograms compared with the current production model, or more than 20 percent of the original weight. "The Audi TT ultra concept represents the cutting edge of lightweight construction," says Peter Fromm, Head of Body Development at AUDI AG. "It includes technologies at varying degrees of maturity...

  • Page 70
    ...-Eike Elend, Head of the Audi Lightweight Design Center. and multiple cross-members and cross-bars. Hot-shaped, high-end steels also make up a large portion of the body. They are heated to nearly 1,000 degrees Celsius in a continuous furnace and then shaped in a water-cooled pressing tool at around...

  • Page 71
    ... and a larger fuel tank, which further increase the weight and the process starts all over again. Audi's response: Each new model is lighter than its predecessor. A weighty challenge for the developers at the Audi Lightweight Design Center in Neckarsulm, which was established in 1994. Here all of...

  • Page 72
    ... mix and with Audi connect with infotainment and assistance systems that support drivers without denying them control. We are a strong team pursuing its goals with ambition, discipline and a passion for winning. These principles from racing apply in particular to Technical Development. The result is...

  • Page 73
    ... Mission: Future Germany's highest endowed prize for architecture has been awarded in the city where Europe and Asia meet: Istanbul. Five architectural firms were invited to compete for the second Audi Urban Future Award with their urban planning solutions for the year 2030. PHOTOS | AUDI AG...

  • Page 74
    ... in order to construct the mobility of the future," says Prof. Rupert Stadler, Chairman of the Board of Management of AUDI AG. This is what prompted Audi to launch the Audi Urban Future Initiative - with research projects, workshops and the Audi Urban Future Award, which is presented every two years...

  • Page 75
    ..." concept combines a main traffic artery with individual transport and a mobility platform on the Internet. The core idea is to share cars as well as real estate in 2030 as community property, rather than individual property. "Our plan is an optimistic vision that counters the American dream of...

  • Page 76
    ... Sigi, Member of the Board of Management of AUDI AG for Human Resources, stressed to the participants: "Companies are an important part of society. This is why we strive in all important decisions for balance between social responsibility, environment and economy. We do this through open interaction...

  • Page 77
    74 Their passion drives them: Fans of the motorcycle brand Ducati meet for Audi employees craft cars with the highest quality World Ducati Week. International artists perform at the anniversary gala as part standards. of Audi's cultural sponsorship. » » » My Passion PHOTO | S T E FA N -WA...

  • Page 78

  • Page 79
    ...Böhringer »La Rossa« Festival of the Reds Things are crazy on the Adriatic coast. Every two years, tens of thousands of enthusiasts the world over pour in for World Ducati Week - a four-day festival celebrating their love of the Italian motorcycle brand. ARMIN ZOGBAUM/GALLERYSTOCK.COM PHOTO |

  • Page 80
    77

  • Page 81
    My Passion 78 Absurd acceleration, then daring drifts: The drag races attract visitors to World Ducati Week like magic. Fans can barely contain their excitement when the riders perperform their stunts. PHOTOS | M I RCO L A Z Z A R I /G E T T Y I M AG E S

  • Page 82
    ... Ducati motorcycles are parked tightly spaced along the race track in a line stretching almost to the horizon. Their owners have come to World Ducati Week to spend four unforgettable days among kindred spirits, to talk shop and engage in heated discussions to an accompaniment of roaring two-cylinder...

  • Page 83
    ... rattle the windows of the buildings lining the Piazzale Roma to the joy of thousands of rock fans. The four Audi R8 models turning laps on the race track are not the only indication that Ducati is soon to change owners this summer. Ducati CEO Gabriele Del Torchio tells the press that he is looking...

  • Page 84
    ... 1,200 employees build six model series in modern production facilities at the company's headquarters in the Borgo Panigale neighborhood of Bologna. Ducati sells its motorcycles in more than 80 countries around the world. The tradition-steeped brand was acquired by the Audi Group in July 2012 and...

  • Page 85
    My Passion 82 Text | Jörn Kengelbach and Wolfgang Koser The fascination of carmaking S T E FA N -WA RT E R . CO M PHOTOS |

  • Page 86
    83 How does an Audi take shape? With meticulous planning, ultra-modern production technologies and employees who give top priority to quality every time - as a visit to the Ingolstadt plant shows.

  • Page 87
    ... hours they will be given a close­up of how Ingolstadt builds more than 2,500 A3, A4, A5, and Q5 models every day. They will see in detail how this mighty complex runs, with the two assembly lines for the A4, A5 and Q5 models and their derivatives as examples. The first evidence of production work...

  • Page 88
    ... onto onto in-white taken taken from various from various models' models' The paint visitors visitors experience experience in the in press the shop press shop in-white the body thesurfaces body surfaces that effectively that effectively no no production production lines. "I lines. scan "I the scan...

  • Page 89
    ... car. Belt layer Belt layer Tread Tread Belt edge Belt edge protection protection Wheels Wheels The wheels The wheels and and tires, which tires, Audi which Audi doesn't doesn't manufacture manufacture itself, are itself, pre-assembled are pre-assembled close to close the to factory the factory site...

  • Page 90
    93 Dr. Frank Dreves Member of the Board of Management for Production Pure passion in production More than 1.46 million cars produced in 2012 - once again a production record for Audi, achieved by our workforces at nine production locations throughout the world. But statistics don't tell the whole ...

  • Page 91
    ... von Treuenfeld Grand musical gala: To celebrate "50 Years of Culture at Audi," a number of VIP guests joined together with Audi employees in Ingolstadt to experience a spectacular jubilee festival featuring a host of artists. Culture in the press shop PHOTOS Starring on the piano: Olga Scheps...

  • Page 92
    ..., because music brings together people of different cultures." "We wanted to create a symbiosis between the technical location and the stagecraft so that we could use lighting elements to narrate a fabulous story. It really worked!" Katharina Wagner, Director of the Bayreuth Festival, on the gala

  • Page 93
    ...H all N58 on the AUDI AG factory site in Ingolstadt has never seen anything like it: The heavy press tools that each day process 500 metric tons of steel and aluminum for the manufacture of various Audi models have given way to a stage with grand piano and elaborate lighting technology. Giant pipes...

  • Page 94
    ...Germany. Audi can boast an impressive track record in endurance races in 2012. On top of its successes on the Nürburgring and at Le Mans, the brand also won the 24 Hours races at Spa and Zolder. Short Facts 749 apprentices and participants of combined study/training programs started their working...

  • Page 95
    ... Strotbek and Dr. Werner Brandt talk about the challenges of globalization and increasing connectivity. Audi employees who contribute time and effort to social projects produce When Audi designers discuss lasting changes in the lives of other people. vehicle studies with trend-conscious consumers...

  • Page 96

  • Page 97
    My Experience 100 Editor | Michael Kneissler PHOTOS | ENNO KAPITZA « Development is what drives our industry «

  • Page 98
    101 Axel Strotbek (left), Member of the Board of Management for Finance and Organization at AUDI AG, and Dr. Werner Brandt, Chief Financial Officer of SAP AG, discuss opportunities and risks in a turbulent global economy, special customer wishes and the car as a mobile terminal device on wheels.

  • Page 99
    ... to do with mobility and speed - as a private individual, but also in my Fuel consumption and emission figures at the end of the Annual Report PHOTOS | ENNO KAPITZA Axel Strotbek: I'm delighted we're able to meet here at our Neckarsulm plant, in the production shop where we build our R8 sports...

  • Page 100
    ...the process of building a new plant there with a capacity of 200,000 units, and will soon be ramping up our capacity in China to 700,000 cars annually. But we are also expanding capacity in Europe, and from 2016 we will have a new manufacturing location in North America. From then on, all Q5 models...

  • Page 101
    My Experience 104 "Design thinking speeds up our development cycles and boosts customer satisfaction, because the user is closely involved in the development process." Dr. Werner Brandt them themselves, so driver assistance systems are especially important. In China, those customers normally have ...

  • Page 102
    ...find out in practice how the system works. Dr. Brandt: We are involved in a perma­ nent exchange of ideas with your industry on the topic of connected cars. We participate in the development of intelligent connectivity and are helping vehicles to communicate directly with each other. One benefit of...

  • Page 103
    My Experience 106 Text | Kay Dohnke PHOTOS | AUDI AG

  • Page 104
    ...manual labor to community services. he "Audi Volunteers" ini­ tiative provides AUDI AG employees with opportu­ nities to perform volunteer work on community pro­ jects. On the first­ever Audi Volunteer Day in June 2012, 330 helpers from all divisions at Audi's Ingolstadt site volun­ teered for...

  • Page 105
    ...citizen around the world. And the variety of pursuits is remark­ able. Audi employees ran at the "24 Hours of Audi" benefit event in 2011 and raised some 150,000 euros for a children's charity. Ingolstadt has been a UNICEF Child Friendly City since summer 2012. This same year, Audi donated 100,000...

  • Page 106
    ... Along these lines, we help employees establish a harmonious work/family balance through childcare services and flexible working-time models. After all, at Audi responsibility does not end at the factory gates. All of our sites are thus committed to environmental protection and community projects as...

  • Page 107
    My Experience 110 Text | Steffen Fründt If you're designing cars today, you have to know what the people of tomorrow will want in terms of mobility. In a special market research program, Audi identifies future trends early on. Looking ahead PHOTO | ULRIKE MYRZIK

  • Page 108
    111 Already on the test bed today: visions of individual Audi designers for tomorrow's mobility.

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    ... they understand it? Today's the day to find out. It takes a lot of time to develop a car - and a lot of money to build it. That's one reason why there is scarcely a market as well researched as the car market. Cockpit layout, glove box styling, turn signal design - there are surveys and studies...

  • Page 110
    ... is very important for our work," says the Head of Design Strategy/Communication at AUDI AG. With collaborative projects such as these, involving market research and design, it's not so much about evaluating individual models as it is about getting outside feedback on new ideas. "Design mustn't be...

  • Page 111
    ... for Ingolstadt City Hall to display the running total raised. AUDI AG started the ball rolling with an initial donation of 100,000 euros. Audi connect at the CeBIT INFOTAINMENT For the first time ever, Audi had its own stand at the CeBIT, one of the most important events in the digital world, to...

  • Page 112
    ... in just 8:09.099 minutes. The R8 e­tron's two electric motors give the car a combined power output of 280 kW (381 hp). "This run was a unique experience for me," declared driver Winkelhock. "The torque that the R8 e­tron's electric motors unleash in propelling it uphill beats anything I've ever...

  • Page 113
    ... joy to jazz singer Viktoria Lamborghini employee Giorgio Sanna not only tests each new Tolstoy. model - he also lives by the values of the legendary Italian car brand. » » » I Fuel consumption and emission figures at the end of the Annual Report My Inspiration PHOTO | STEFANSCHUETZ .COM...

  • Page 114

  • Page 115
    ... snow Audi factory driver Rahel Frey and former Olympic ski champion Hilde Gerg go head-to-head in an unconventional competition: First they go down the slope on skis - and then in the new Audi SQ5 TDI! Fuel consumption and emission figures at the end of the Annual Report PHOTOS | STEFANSCHUETZ...

  • Page 116
    119 Down to the valley with top technology: Skiing sensation Hilde Gerg carves tight turns on skis; factory driver Rahel Frey dances around the slalom gates in the Audi SQ5 TDI.

  • Page 117
    ... 120 Impressions from Saalbach-Hinterglemm: Rahel Frey (left) tests the slopes, the two competitors on the chairlift (above) and just before the start of the first run (below). Fuel consumption and emission figures at the end of the Annual Report PHOTOS | S T E FA N S C H U E T Z . CO M

  • Page 118
    ...race car drivers in Europe. T his is one of those idyllic days for skiing. Since morning, the sun has been peaking through the wispy clouds on the "Turmwiese," one of the most beautiful ski slopes in Saalbach-Hinterglemm. Perfect conditions for carrying out a special sort of duel. Waiting to start...

  • Page 119
    .... Moments after the start, the two SQ5 TDI SUVs are already making their way around the gates in spectacular fashion. Sepp Haider recommended that the drivers switch the stability control system to the offroad mode, so that they could make use of slip in the turns. The SQ5 TDI cars dance down the...

  • Page 120
    ... Meo Member of the Board of Management for Marketing and Sales "Vorsprung" starts anew every day Long before I came to Audi, the German word "Vorsprung" held a special fascination for me. Because it says in a single word what makes a brand into a strong brand. What Audi stands for. For the dynamics...

  • Page 121
    ...A powerful voice and an unbridled passion for experimentation. For Swedish Viktoria Tolstoy, every concert is a new adventure. She thrills the audience at the Audi Forum Neckarsulm with her passion for music. PHOTO | F R A N K S C H I N S K I /O S T K R E U Z « Jazz freedom , to me, means «

  • Page 122
    My Inspiration 125 The Audi Forum Neckarsulm is transformed into a jazz club for Viktoria Tolstoy's concert.

  • Page 123
    ...A singer's work day: Viktoria Tolstoy arriving in Neckarsulm and during the sound check (top), ...summer evening, Viktoria Tolstoy is presenting her album "Letters to Herbie," a very personal interpreta­ tion of songs by one of her main role models - jazz legend Herbie Hancock. "Welcome to the Audi...

  • Page 124
    ... I've been there five times since. It's a very special feeling being related to him," says the singer. Her great grandfather, Leo Tolstoi's son, who suffered from a neurological disorder, went to Sweden to see a specialist for treatment at the end of the 19th century and fell head over heels in love...

  • Page 125
    My Inspiration 128 Text | Jürgen Zöllter Family photo: Lamborghini's head test driver Giorgio Sanna leans against the Aventador Roadster. His two other favorites: Countach (rear) and Miura. Fuel consumption and emission figures at the end of the Annual Report WOLFANGO PHOTO |

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    129 36 cylinders To celebrate the 50th anniversary of the first Lamborghini sports car, head test driver Giorgio Sanna takes the legendary Miura and Countach out of the museum to meet the new Aventador Roadster. Trio with

  • Page 127
    ... Brand ambassador, head test driver, developer and race car driver - he is all of these. Sanna also channels his energy and enthusiasm into making sure that every new model becomes a Lamborghini in the tradition of the legendary company founder and auto­ motive designer. The 37­year­old does this...

  • Page 128
    ... and Raticosa passes, the route will then lead to Bologna. The tour will wrap up with a gala dinner at the Lamborghini headquarters in Sant'Agata Bolognese. More information on the anniversary can be found on the website www.lamborghini50.com. Classic sports car design: the inside of the Miura with...

  • Page 129
    ... taking curves at high speed - the gear ratio allows the car to exit them at speeds up to over 100 kilometers per hour. Completing the trio is the current top­of­the­range Lamborghini model, which the manufacturer introduced into its fabled 12­cylinder club in 2011. The Aventador puts everything...

  • Page 130
    ... this location, we will be able to expand our activities in the American markets," says Prof. Rupert Stadler, Chairman of the Board of Management of AUDI AG (below right, with Rafael Moreno Valle Rosas, Governor of Puebla). Production will begin in 2016. "Doors open!" in Ingolstadt for knowledge...

  • Page 131
    ...daughter Carlotta. Andrea von Treuenfeld Author, Berlin After working for many years as a columnist, correspondent and editor­in­chief, this freelance journalist now primarily writes biographies and reports on cultural events. The cultural gala in Ingolstadt gave her the chance to combine the two...

  • Page 132
    ...been collaborating since 1993. They specialize in features, portraits, architecture and design. "Every new job presents new challenges. One­size­fits­all solutions do not exist. That means our work is always exciting." What else do they want to photograph? "The list is endless. The tallest towers...

  • Page 133
    ... Hungarian site GyÅ'r, on the other hand, construction work is nearing completion: A new derivative model of the A3 family will be built on the new production line there from summer 2013. There are also plans Fuel consumption and emission figures at the end of the Annual Report PHOTO | AUDI AG

  • Page 134
    ...profitable vehicle manufacturers. 11 Capital investments billion The Audi Group continues to invest strongly in the future. It has plans for total capital investments amounting to around EUR 11 billion by 2015. The focus will be on the develop­ ment of new products and technologies. The Company...

  • Page 135
    ...A3 model at the new Foshan plant, in Southern China, which is currently being constructed by the Chinese joint venture FAW­ Volkswagen Automotive Company, Ltd. Dynamic corporate development is also generating demand for extra capacity at the Ingolstadt and Neckarsulm locations. One measure designed...

  • Page 136
    ... the Audi Group at December 31, 2012 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 2012 fiscal year Development of fixed assets in the 2011...

  • Page 137
    ... for their alluring design, highly advanced technology, superior build quality and exceptionally good handling characteristics. The Audi Group moreover supplies cars of other Volkswagen Group brands through its sales subsidiaries. The motorcycles of the new member company Ducati are renowned for...

  • Page 138
    ... models in Bologna (Italy). This company also builds Diavel and Monster motorcycles at a plant in Amphur Pluakdaeng (Thailand). Management Report 140 140 142 148 149 150 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for the Supervisory Board...

  • Page 139
    ...the Audi Group in its own consolidated financial statements. Control and profit transfer agreements exist both between Volkswagen AG and AUDI AG, and between AUDI AG and its principal German subsidiaries. In March 2012, a subsidiary of AUDI AG acquired a 30 percent share in Volkswagen Group Services...

  • Page 140
    ...as part of an ongoing process: - We define innovation - We create experiences - We live responsibility - We shape Audi Management Report 140 140 142 148 149 150 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for the Supervisory Board and Board of...

  • Page 141
    ... as part of being a balanced contributor to society. The Audi Board of Management approved approximately a dozen corporate projects in the course of the 2012 fiscal year. These range from the development of drive energy from renewable sources, through the first Audi Stakeholder Forum, to support for...

  • Page 142
    ... Volkswagen AG, Wolfsburg, and FAW Group Corporation, Changchun (China). Production of a model from the A3 car line will commence at Foshan from the end of 2013. In addition, the current fiscal year will see work start on the building of a new production location in San José Chiapa, Central Mexico...

  • Page 143
    ...2013, Germany's leading design award, in the "Transportation and Public Space" category (www.themenportal.de/unternehmen/ auszeichnungen-fuer-audi-im-oktober-2012-39805 - link only available in the German language). The "Autonis" award for the best design innovation of the year is presented annually...

  • Page 144
    ...therefore exceptionally important for our Company to be perceived as an attractive employer worldwide. The Audi Group therefore offers its employees a challenging working environment with a wide range of opportunities to develop, as well as attractive, commensurate pay coupled with high job security...

  • Page 145
    ... of the most profitable companies in the automotive industry worldwide. SHARES Stock market developments Last year the development on financial and capital markets worldwide exhibited high volatility prompted by the sovereign debt crises in Europe. At the start of the year Germany's lead index DAX...

  • Page 146
    149 INDEXED AUDI TRADING PRICE TREND (ISIN: DE0006757008, WKN: 675700) in % 100 75 50 25 Audi share German share index (DAX) 2008 2009 2010 2011 2012 Management Report 140 140 142 148 149 150 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for ...

  • Page 147
    ... parent company that are conditional on a change of control following a takeover bid AUDI AG has not reached any key agreements that are conditional on a change of control following a takeover bid. Nor has any compensation been agreed with members of the Board of Management or employees in the event...

  • Page 148
    ... Report 140 140 142 148 149 150 Audi Group Structure Strategy Shares Disclosures required under takeover law System of remuneration for the Supervisory Board and Board of Management Corporate management declaration Business and underlying situation Economic environment Research and development...

  • Page 149
    ... products. By contrast the previous year's record total could not be improved on in Argentina, with 587 (620) thousand vehicles sold, as a result of import restrictions imposed by the Argentinian government. The Asia-Pacific region was the main driver of car sales worldwide in 2012. The sales volume...

  • Page 150
    ...of the Audi Group. EMPLOYEES IN THE RESEARCH AND DEVELOPMENT AREA Average for the year AUDI AG AUDI HUNGARIA MOTOR Kft. Automobili Lamborghini S.p.A. Italdesign Giugiaro S.p.A. PSW automotive engineering GmbH DUCATI MOTOR HOLDING S.P.A. Other Total 2012 7,045 180 245 694 537 88 148 8,937 2011 6,586...

  • Page 151
    ...of this catalytic process is synthetic Audi e-gas, which can be used to power natural-gas cars such as the new A3 Sportback g-tron, due to appear on the market in 2013. In December 2012, Audi celebrated the topping-out ceremony at its new e-gas plant in Werlte (Emsland), where e-gas production is to...

  • Page 152
    ... e-gas project will work in all countries where there is a natural gas mains network. Management Report 140 151 151 153 162 162 165 173 176 190 201 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial...

  • Page 153
    ... big step in the direction of electric mobility for our Company. Some two kilometers from the Ingolstadt plant is a facility that has been dedicated to researching the lithium-ion battery since May 2012. With an eye to future automotive projects, vital development and manufacturing expertise in high...

  • Page 154
    ... economy ("cruise") and sports ("race") setting. At city speeds of up to 55 km/h, they can also activate electric travel at the push of a button. First win for a hybrid car at Le Mans Audi reached another landmark in motorsport with its 11th win in the 80th 24 Hours of Le Mans. For the first time...

  • Page 155
    ... in automotive manufacturing around 30 years ago. Today, the Italian sports car manufacturer holds a large number of patents in the field of carbon technology. The Aventador LP 700-4 is the first Lamborghini to have a cabin made entirely from carbon fiber. For its production, a special assembly hall...

  • Page 156
    ... active myAudi account linked to the vehicle, which the customer can create online at the myAudi portal, access Google Mapsâ„¢, the point-of-interest (POI) search feature with voice control, call up weather and travel information, and benefit from other new Audi connect services, too. Our customers...

  • Page 157
    ...driver assistance systems on board the new A3 and is now introducing technologies from the full-size category in the compact segment as well. These include the optional Audi adaptive cruise control (ACC), which automatically maintains a chosen safety clearance from the vehicle in front with the help...

  • Page 158
    ...valid driver's license in every car, to take charge of steering the car if necessary. Management Report 140 151 151 153 162 162 165 173 176 190 201 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial...

  • Page 159
    ... of the Audi product range will lend further strategic importance to procurement activities. This fact, along with the high complexity of supply chains, prompted the further intensification of purchased parts and supplier management in the past fiscal year. Together, tool and process experts from...

  • Page 160
    ...prior-year figure are mainly attributable to the impact of model changeovers. Car production by AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungary), came to 33,553 (39,518) vehicles in 2012. It built 21,880 (25,508) TT car models jointly with the Ingolstadt plant and 11,673 (14,010) of the Audi A3 car line on...

  • Page 161
    ... and development of the Group headquarters in Ingolstadt As part of the strategic expansion of the worldwide Audi production network, a new cutting-edge body shop for the Audi A3 went into operation at the Group headquarters in Ingolstadt in May 2012. Efficiency and sustainability were a special...

  • Page 162
    ...includes the partners AUDI AG, FAW Group Corporation, Changchun (China), and Volkswagen AG, Wolfsburg, is currently constructing a further car plant in Foshan, South China. It will have a press shop, body shop, paint shop and assembly line and thus cover the entire production process. A new model of...

  • Page 163
    ... UK - the most important export market in Europe - we were able to increase the volume of deliveries by a healthy 7.2 percent to the new record total of 123,640 (115,345) vehicles. In France, too, 2012 saw the Company increase its deliveries slightly to 62,202 (62,009) cars despite generally marked...

  • Page 164
    ... product range in the 2012 fiscal year. NEW MODELS OF THE AUDI BRAND IN 2012 Management Report 140 151 151 153 162 162 165 173 176 190 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial performance...

  • Page 165
    ... and sharper design. The RS 5 Cabriolet, which was given its first showing at the 2012 Paris Motor Show, is an open-roofed top-of-the-range model that will be added to the car line in the course of the current fiscal year. Demand for the sporty, elegant A5 car line in the past fiscal year held up...

  • Page 166
    ... the 24 Hours of Le Mans in June 2012. Propelled by a 3.0 TDI biturbo engine developing 230 kW (313 hp), the SQ5 TDI is Audi's first ever diesel-engined S model. In addition, the new Audi SQ5 was shown at the Detroit Motor Show in January 2013 with a special eye to the American market. This latter...

  • Page 167
    ... the car line starting this summer. Audi Q7 The Audi Q7 has won over many customers with a luxuriously smooth drive attributable to its powerful and efficient engines in conjunction with quattro drive as standard and the 8-speed tiptronic. The engine program for the Audi Q7 comprises a number of...

  • Page 168
    ... The new startstop system and cylinder deactivation at speeds of up to 135 km/h help to improve the Aventador's efficiency. Lamborghini showcased the improved Gallardo models at the Paris Motor Show in September 2012. At the Auto China in Beijing, Lamborghini hinted at a possible car line in the SUV...

  • Page 169
    ... the acquisition of the Ducati Group in July 2012, 16,786 customers worldwide have chosen a motorcycle of the Ducati brand. The total number of motorcycles delivered over the year as a whole was 44,102 (42,233). The biggest sales market for the Italian motorcycle manufacturer is the United States...

  • Page 170
    ... qualities thanks to the Sport, Touring and Urban settings. Management Report 140 151 151 153 162 162 165 173 173 175 176 176 190 201 Audi Group Business and underlying situation Economic environment Research and development Procurement Production Deliveries and distribution Financial performance...

  • Page 171
    ... reserves as part of purchase price allocation. For the full year, the Ducati Group achieved an operating profit of EUR 58 million with a return on sales of just under 10 percent, based on the accounting policies applied up to that time by the Ducati Group. The financial result of the Audi Group was...

  • Page 172
    ... percent share of Volkswagen Group Services S.A., Brussels (Belgium) and the acquisition of the Ducati Group. The acquisition of these investments brought total capital investments in the past year to EUR 6,416 (2,970) million. We also stepped up our efforts to develop new products and technologies.

  • Page 173
    ... in property, plant and equipment and other intangible assets. The focus here was on investments in new products and innovative drive technologies. The changes in investments resulted in an additional cash outflow of EUR 3,567 (64) million. Overall the cash flow from investing activities, in other...

  • Page 174
    ...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. DUCATI MOTOR HOLDING S.P.A. 1) Employees Apprentices Employees of Audi Group companies...

  • Page 175
    ... on the Company's profit and the attainment of defined target values. There are also profit-sharing plans at Audi subsidiaries both in Germany and internationally. Just under 3,000 employees newly recruited at AUDI AG AUDI AG took on a total of 2,951 new employees in the 2012 fiscal year. 1,582...

  • Page 176
    ... technology or tool mechanic. During the 2012 fiscal year, 27 young people - 18 industrial/technical apprentices and nine clerical trainees - received the opportunity to spend three months working in other European countries. The host companies were 12 locations of the Volkswagen Group. AUDI AG...

  • Page 177
    ... age attended the vacation programs at both locations in 2012. There is a new, pioneering concept of flexible short-term care for employees' children aged between three and 14 years at AUDI AG in Ingolstadt. The long opening hours make the facility popular with parents when professional appointments...

  • Page 178
    ...range of voluntary activities such as the Audi Volunteers project, child care arrangements and projects in the sphere of mobility and transport. In December 2012, for instance, the Company introduced a new transport concept in conjunction with the Ingolstadt local transport operator to make the site...

  • Page 179
    ...: Human Resources Management • INI.TUM - Ingolstadt Institutes of the Technical University of Munich Since 2003; focus: Information Technology, Production Technology, Electric Mobility • IAF - Institute for Applied • INI.UniBw - University of the Research, Ingolstadt University of Federal...

  • Page 180
    ... VW Group manufacturing locations Bratislava (Slovakia), Martorell (Spain) and Aurangabad (India), where the Audi Group also builds vehicles, and the joint venture FAW-Volkswagen Automotive Company Ltd., Changchun (China), likewise satisfy the requirements of an environmental management system and...

  • Page 181
    ... very successful for the Audi Group. The Lamborghini brand, too, has long been systematically identifying ways of reducing energy consumption. In July 2012 it completed the new Design Center for the development of prototypes and pre-production models. It is equipped with state-of-the-art technology...

  • Page 182
    ... energy. For instance, we ship cars from the Company headquarters in Ingolstadt - and, since the end of September 2012 from the Neckarsulm site as well - to Emden, the port of loading on the North Sea coast, by trains running on power generated from renewable electricity. During the past fiscal year...

  • Page 183
    ... period in which the Ingolstadt, Neckarsulm and Brussels (Belgium) manufacturing plants participated ended with the 2012 reporting year. The third trading period, in which the GyÅ'r (Hungary) production location is now also participating, runs from 2013 for a total of eight years, ending in 2020. To...

  • Page 184
    ...Challenge Bibendum 2011 â-º Launch of start-stop system and driver information system with efficiency program â-º Launch of Audi valvelift system (AVS) â-º Launch of Audi S tronic â-º Launch of FSI technology â-º Volume-produced car with all-aluminum body: Audi A2 â-º Launch of Audi Space Frame (ASF...

  • Page 185
    ... 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...

  • Page 186
    ... future models lighter than their predecessors. The Audi brand has many years of experience in lightweight construction technology and has a proven track record of success in this domain. Its Audi Space Frame (ASF) technology in particular proved a trailblazing development on the Audi A8 launched...

  • Page 187
    ... early warning system. At the same time, this continuing dialogue promotes an open risk culture. Greater transparency makes it easier to manage risks effectively and promotes the stability of the business model in the Audi Group. To support the strategic decision-making process, a combined report on...

  • Page 188
    ...internal control process for the Audi Group comprises measures and checks that guarantee the complete, prompt and accurate communication of all information needed for the preparation of its Consolidated Financial Statements and Group Management Report. Within the Audi Group, the accounting system is...

  • Page 189
    ... internal control process for financial reporting, both in Germany and abroad. Furthermore, the Audi Group is connected to Group Accounting at Volkswagen AG, Wolfsburg, through the joint use of the Volkswagen Consolidation and Corporate Steering System (VoKUs) and ongoing information sharing. This...

  • Page 190
    ... report Report on post-balance sheet date events Report on expected developments Disclaimer Economic risks The Audi Group's business operations are influenced to a high degree by the development of the worldwide economic framework. The European, Chinese and U.S. sales markets are of key importance...

  • Page 191
    ... of tool breakage, losses from natural disasters and strikes at suppliers or in the transportation sector. Financial difficulties encountered by suppliers and dealers could undermine the value creation process for the Company. The Audi Group takes this risk into account in its choice of partners...

  • Page 192
    ... loss of expertise to external development partners, as well as changes to the product at short notice and delays. The Audi Group protects its intellectual property by choosing its system partners with care and by contractually regulating and enforcing industrial property rights. Management Report...

  • Page 193
    ... for their own financial future. Information and IT risks A key success factor behind ongoing, sustainable productivity advances is effective, efficient processes and information systems that meet the requirements of the Audi Group. Our Company's increasing worldwide presence calls for...

  • Page 194
    ... 31, 2012. Management Report 140 151 173 176 190 190 197 197 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Risks, opportunities and outlook Risk report Report on post-balance sheet date events Report on expected developments Disclaimer...

  • Page 195
    ... Company is aiming to increase its market shares in a large number of sales markets thanks to its attractive product range, thus further improving its already strong competitive position in the premium car segment. Deliveries of the Audi brand in the key high-volume markets of Western Europe should...

  • Page 196
    ... Report on post-balance sheet date events Report on expected developments Disclaimer Anticipated financial performance We expect a slight rise in revenue for the Audi Group and the Automotive segment in the 2013 and 2014 fiscal years. The profit performance will benefit not only from planned sales...

  • Page 197
    ... model, technology and brand strategy. To realize its plans for sustainable, high-quality growth, the Audi Group intends to invest a total of around EUR 11 billion over the period 2013 through 2015. Anticipated development of the workforce In line with the Company's plans for growth, the number...

  • Page 198
    ... in 2013 and 2014. Management Report 140 151 173 176 190 190 197 197 201 Audi Group Business and underlying situation Financial performance indicators Social and ecological aspects Risks, opportunities and outlook Risk report Report on post-balance sheet date events Report on expected developments...

  • Page 199
    ...Financial Statements of the Audi Group at December 31, 2012 Income Statement of the Audi Group 202 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 200
    ... year Development of fixed assets in the 2011 fiscal year General information Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet Additional disclosures Events occurring subsequent to the balance sheet date Statement of Interests held by the Audi Group

  • Page 201
    Balance Sheet of the Audi Group 204 ASSETS in EUR million Non-current assets Fixed assets Intangible assets Property, plant and equipment Leasing and rental assets Investment property Investments accounted for using the equity method Other long-term investments Deferred tax assets Other financial ...

  • Page 202
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 203
    Statement of Changes in Equity of the Audi Group 206 EUR million Issued capital Capital reserve Position as of Jan. 1, 2011 Profit after tax Other result after tax Overall result Capital increase Profit transfer to Volkswagen AG Position as of Dec. 31, 2011 Position as of Jan. 1, 2012 Profit ...

  • Page 204
    ... fair value of hedges securities 97 - - 666 - 666 - - - 569 - 569 - 645 645 - - 76 - 11 - 10 10 - - -1 -1 - 20 20 - - 19 Actuarial gains and losses - 346 - - 101 - 101 - - - 447 - 447 - - 655 - 655 - - - 1,102 Investments accounted for using the equity method 8 - 23 23 - - 31 31 - 2 2 - - 33 AUDI AG...

  • Page 205
    ... in group of consolidated companies Changes from equityaccounted investments Gross carrying amounts Costs Jan. 1, 2012 Intangible assets Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Brand names Goodwill Capitalized development costs, products...

  • Page 206
    ... 2,751 - 14 0 581 - 2 416 20 Changes in group of consolidated companies Reversal of impairment losses Cumulative depreciation and amortization Carrying amounts Currency changes Additions Impairment losses Transfers Disposals Dec. 31, 2012 Dec. 31, 2012 Dec. 31, 2011 2,883 4,038 2,531 540 37...

  • Page 207
    ... in group of consolidated companies Changes from equity accounted investments Gross carrying amounts Costs Jan. 1, 2011 Intangible assets Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Brand names Goodwill Capitalized development costs, products...

  • Page 208
    211 Value adjustments in gross carrying amounts Cumulative depreciation and amortization Jan. 1, 2011 3,176 3 1 458 75 - 962 - Changes in group of consolidated companies Reversal of impairment losses Cumulative depreciation and amortization Carrying amounts Currency changes Additions Impairment...

  • Page 209
    ... a control and profit transfer agreement is in force. The Consolidated Financial Statements of AUDI AG are included in the Consolidated Financial Statements of Volkswagen AG, which are held on file at the Local Court of Wolfsburg. The purpose of the Company is the development, production and sale of...

  • Page 210
    ... in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Accounting principles Group of consolidated companies Consolidation principles Foreign currency translation Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet...

  • Page 211
    .... During the 2011 calendar year, the Ducati Group sold 42,016 motorcycles, generating revenue amounting to EUR 479 million. Due to time constraints, it was not possible for the acquired assets and liabilities to be analyzed in full before publication of the Consolidated Financial Statements. The...

  • Page 212
    ... Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 212 214 216 217 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Accounting...

  • Page 213
    ... Audi website at www.audi.com/subsidiaries. This list can additionally be requested directly from AUDI AG, Financial Communication/ Financial Analysis, I/FF-3, 85045 Ingolstadt, Germany. By virtue of their inclusion in the Audi Group's Consolidated Financial Statements, the following companies have...

  • Page 214
    ... Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 212 214 216 217 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Accounting...

  • Page 215
    ... products going into series production is recognized as an intangible asset, provided that production of these products is likely to bring economic benefit to the Audi Group. If the conditions stated in IAS 38 for capitalization are not met, the costs are expensed in the Income Statement in the year...

  • Page 216
    ... and assets of which software of which customer bases Capitalized development costs 3-15 years 3 years 2-8 years 5-9 years Consolidated Financial Statements 202 203 204 205 206 Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in...

  • Page 217
    ... and rents are expensed directly in the Income Statement. L E A S I N G A ND R E N TA L A SS E T S Vehicles leased by Audi Group companies, in the case of operating lease agreements, are capitalized at cost of sales and depreciated to the calculated residual value on a straight-line basis over the...

  • Page 218
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 218 218 219 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 219
    ... that fall into this category are reported at their fair value. In the case of listed financial instruments - exclusively securities in the case of the Audi Group - the fair value corresponds to the market value on the balance sheet date. Fluctuations in value are accounted for within equity in the...

  • Page 220
    ... Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 218 218 219 220 220 220 220 221 224 224 224 225 225 225 225 226 226 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets...

  • Page 221
    ... 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 222
    ... Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 218 218 219 220 220 220 220 221 224 224 224 225 225 225 225 226 226 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets...

  • Page 223
    ... gains and losses are reported in equity with no effect on income and have no impact on the profit reported in the Income Statement. Changes to estimates relating to the amount of other provisions are always recorded with an effect on income. The expected value approach means that subsequent...

  • Page 224
    ... Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 218 218 219 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 225
    ... of assets Miscellaneous operating income Total other operating income 2012 544 475 251 205 127 20 6 4 249 1,881 2011 278 368 233 188 369 - 6 9 516 1,967 Income from derivative hedging transactions mainly results from the settlement of currency hedging instruments. The total position in relation to...

  • Page 226
    ... and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 227
    .... Following a loss in the current fiscal year, the company concerned is expecting to record a positive tax income in future. Of the deferred taxes reported in the Balance Sheet, a total of EUR 3 million was recorded with a resulting reduction in equity, without influencing the Income Statement. In...

  • Page 228
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 229
    ... to subsidiaries of Volkswagen AG, Wolfsburg, that are not part of the Audi Group. Impairment losses for financial assets by category EUR million Measured at fair value Measured at amortized cost Impairment losses 2012 1 13 14 2011 1 19 20 The impairment losses relate to financial assets, such as...

  • Page 230
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 238 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition...

  • Page 231
    ... for using the equity method Changes in relation to the investments accounted for using the equity method in FAWVolkswagen Automotive Company Ltd., Changchun (China) and Volkswagen Group Services S.A., Brussels (Belgium), are shown in the development of the fixed assets. The acquisition of the...

  • Page 232
    ... Financial Statements 208 210 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet Liabilities Additional disclosures Events...

  • Page 233
    ... materials and supplies Work in progress Finished goods and merchandise Current leased assets Total Dec. 31, 2012 417 570 2,750 594 4,331 Dec. 31, 2011 433 463 2,832 650 4,377 Inventories amounting to EUR 35,467 (32,697) million were recorded as cost of sales at the same time that the revenue from...

  • Page 234
    ... Additional disclosures Events occurring subsequent to the balance sheet date Statement of Interests held by the Audi Group 26 Equity Information on the composition and development of equity is provided on pages 206 and 207 in the Statement of Changes in Equity. AUDI AG's share capital is unchanged...

  • Page 235
    ... instruments of which to affiliated companies Miscellaneous financial liabilities Total Dec. 31, 2012 218 203 26 244 Dec. 31, 2011 545 538 24 569 The derivative currency hedging instruments reported under other financial liabilities are measured at market values. The total item of currency hedging...

  • Page 236
    ...Income Statement Statement of Recognized Income and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information...

  • Page 237
    ... on the length of service and the remuneration of the employees. Both defined contribution and defined benefit plans exist within the Audi Group for retirement benefit arrangements. In the case of defined contribution plans, the Company pays contributions to public or private-sector pension plans on...

  • Page 238
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 238 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition...

  • Page 239
    242 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 Expected return on plan assets Total 2012 - 106 - 141 28 - 220 2011 - 79 - 141 29 - 191 The interest element in pension costs ...

  • Page 240
    ... Financial Statements 208 210 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet Liabilities Additional disclosures Events...

  • Page 241
    ... Audi Group is to assure financial flexibility in order to achieve business and growth targets, and to enable continuous, steady growth in the value of the Company. In particular, management is focused on achieving the minimum return demanded by the capital market on the invested assets. The capital...

  • Page 242
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 243
    ... as per Balance Sheet as of Dec. 31, 2012 ASSETS Non-current Other long-term investments Other financial assets 1) of which from the positive fair values of derivative financial instruments of which fixed deposits and extended loans of which other financial assets Current Trade receivables Other...

  • Page 244
    ... the Notes to the Balance Sheet. The fair values of financial liabilities within the category "Measured at amortized cost" amount to EUR 9,835 (9,222) million and are indicated under the notes to the relevant Balance Sheet items. In the case of current financial assets and liabilities measured at...

  • Page 245
    ... amount as per Balance Sheet as of Dec. 31, 2011 ASSETS Non-current Other long-term investments Other financial assets of which from the positive fair values of derivative financial instruments of which fixed deposits and extended loans of which other financial assets Current Trade receivables Other...

  • Page 246
    ... of balance sheet items to classes of financial instruments No category assigned under IAS 39 Financial liabilities measured at amortized cost Derivative financial instruments with hedging relationships Classification in measurement levels pursuant to IFRS 7 Measured at fair value Measured...

  • Page 247
    ... Note 37.4, "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 248
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 249
    ... owing to customers' purchase invoices and payment processes. Value adjustments Developments of value adjustments of claims that existed on the balance sheet date and that were measured at amortized cost can be broken down as follows for the 2012 and 2011 fiscal years: Specific value adjustment 98...

  • Page 250
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 251
    ... variances from the translation of financial statements into the Group currency (translation risk) are disregarded. Within the Audi Group, the principal non-derivative monetary financial instruments (liquid assets, receivables, securities held and borrowed capital instruments held, interest-bearing...

  • Page 252
    ... year Development of fixed assets in the 2011 fiscal year General information Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet Additional disclosures Events occurring subsequent to the balance sheet date Statement of Interests held by the Audi Group...

  • Page 253
    ... 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 in commodity prices Effects on equity capital Effects on profit after tax Interest rate change risks Change in market interest rate Effects on equity...

  • Page 254
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 255
    ...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. 42 Other financial obligations EUR million Within 1 year Ordering commitments for property, plant and equipment intangible assets...

  • Page 256
    ... Financial Statements 208 210 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and measurement principles Notes to the Income Statement Notes to the Balance Sheet Additional disclosures Events occurring...

  • Page 257
    260 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 to Volkswagen AG Volkswagen AG subsidiaries and participating interests not ...

  • Page 258
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 259
    ... with the first-time consolidation of the Ducati Group in the 2012 fiscal year, include the development, production, assembly and distribution of Ducati brand motorcycles, including accessories and spare parts. As a general rule, the segment reporting is based on the same reporting, accounting and...

  • Page 260
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 261
    ...: Revenue with key accounts EUR million Volkswagen AG, Wolfsburg Volkswagen AG subsidiaries not belonging to the Audi Group 4,326 10,779 2012 % 8.9 22.1 EUR million 3,684 9,877 2011 % 8.4 22.4 50 German Corporate Governance Code The Board of Management and Supervisory Board of AUDI AG submitted...

  • Page 262
    ...and Expense Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets in the 2012 fiscal year Development of fixed assets in the 2011 fiscal year General information Recognition and...

  • Page 263
    ...Employee representative 5) Employee representative Employee representative Honorary Chairman 1) Professions and companies of the members of the Supervisory Board and details on their seats on other supervisory boards and regulatory bodies are listed in the Notes to AUDI AG's Annual Financial Report...

  • Page 264
    ...(China) Volkswagen Group Services S.A., Brussels (Belgium) 1) AUDI AG exercises control pursuant to IAS 27.13, Sentence 2 (c). Capital share in % 204 205 206 100.0 100.0 100.0 100.0 91.0 Notes to the Consolidated Financial Statements 208 210 212 218 227 233 244 266 267 Development of fixed assets...

  • Page 265
    ...and in accordance 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...

  • Page 266
    ..., 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, 2012. The preparation of the Consolidated Financial Statements and...

  • Page 267
    ..., 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 268
    ... of AUDI AG also discussed at length the recommendations and suggestions in the Code during the past fiscal year and passed the appropriate resolutions. Corporate Governance Report 271 273 273 274 275 275 Corporate governance Corporate management declaration Compliance Risk management Communication...

  • Page 269
    ... 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). Declaration relating...

  • Page 270
    ...the intranet. A reporting system has also been created, using which the subsidiaries can report to Governance, Risk & Compliance on their compliance activities on a regular basis. In order to detect and prevent corruption within the Company, AUDI AG is connected to the Volkswagen Group's global anti...

  • Page 271
    ... Board Directive. Training courses and fact-finding events tailored to specific target groups are offered in order to communicate the content and methods that form the risk management system. Regular and up-to-date information on risk management systems is available via in-house communication media...

  • Page 272
    ... Audi Group's key publication dates and the date of the Annual General Meeting of AUDI AG are listed in a financial calendar, which is available for public consultation at any time on the website www.audi.com/investor-relations and is also published in the Company's Annual Report. In addition, AUDI...

  • Page 273
    ... Finance and Organization Mandate: ï,¡ 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...

  • Page 274
    ... Group, Ludwigsburg Mandates: ï,® Automobili Lamborghini S.p.A., Sant'Agata Bolognese, Italy ï,® Scania AB, Södertälje, Sweden Heinz Eyer (55) Facilities Manager at AUDI AG, Neckarsulm plant Dr. rer. pol. h. c. Francisco Javier Garcia Sanz (55) 1) Member of the Board of Management of Volkswagen AG...

  • Page 275
    ..., Vienna, Austria Mandates: ï,¡ Dr. Ing. h. c. F. Porsche AG, Stuttgart ï,¡ Porsche Automobil Holding SE, Stuttgart ï,¡ Volkswagen AG, Wolfsburg ï,® Porsche Cars Great Britain Ltd., Reading, United Kingdom ï,® Porsche Cars North America Inc., Wilmington, USA ï,® Porsche Gesellschaft m.b.H., Salzburg...

  • Page 276
    ...Member of the Works Council of AUDI AG, Ingolstadt plant Mandate: ï,¡ Volkswagen Pension Trust e.V., Wolfsburg Max Wäcker (58) Deputy Chairman of the Works Council of AUDI AG, Ingolstadt plant Corporate Governance Report 271 273 273 274 275 275 Corporate governance Corporate management declaration...

  • Page 277
    ... consumption and emission figures 280 As at: January 2013 (All data apply to features of the German market.) Model Audi A1 A1 1.2 TFSI A1 1.4 TFSI A1 1.4 TFSI (119 g CO2/km) 1) A1 1.4 TFSI A1 1.4 TFSI A1 1.6 TDI A1 1.6 TDI A1 1.6 TDI A1 2.0 TDI Audi A1 Sportback A1 Sportback 1.2 TFSI A1 Sportback...

  • Page 278
    ...Model Power output (kW) Transmission 125 125 200 200 250 250 265 265 118 118 155 155 155 125 125 200 200 250 250 265 265 88 88 125 125 125 132 6-speed S tronic, 6-speed 6-speed S tronic, 6-speed 6-speed S tronic, 7-speed 6-speed S tronic, 7-speed 6-speed S tronic, 7-speed 6-speed S tronic, 6-speed...

  • Page 279
    282 Model Power output (kW) Transmission 88 100 105 105 105 120 130 130 130 130 150 150 180 180 180 245 331 155 155 105 130 130 180 180 125 ...

  • Page 280
    283 Model Power output (kW) Transmission 155 200 105 130 130 130 150 180 245 331 132 165 165 200 105 105 130 130 180 180 3) 230 132 132 150 150 ...

  • Page 281
    ...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 on official fuel consumption figures and the official specific CO2 emissions of new passenger cars can...

  • Page 282
    ... Current assets Equity Liabilities Balance sheet total From the Cash Flow Statement Cash flow from operating activities Investing activities 4) Net liquidity (Dec. 31) Financial ratios Operating return on sales Return on sales before tax Equity ratio (Dec. 31) Audi share Share price (year-end price...

  • Page 283
    2006 2007 2008 2009 2010 2011 2012 926,180 1,895,695 - 980,880 1,915,633 - 1,029,041...650.00 2.20 542.05 3.00 525.00 X 6) manufactured by the joint venture in the 2012 fiscal year. The previous year's figure has been adjusted for ease of comparison. I MOTOR HOLDING S.P.A., Bologna (Italy)

  • Page 284
    2013 Financial Calendar Quarterly Report, 1st quarter April 30, 2013 Annual General Meeting May 16, 2013 Audi Forum Neckarsulm Interim Financial Report August 2, 2013 Quarterly Report, 3rd quarter November 4, 2013

  • Page 285
    AUDI AG 85045 Ingolstadt Germany Phone +49 841 89­0 Fax +49 841 89­32524 email [email protected] www.audi.com Financial Communication/ Financial Analysis I/FF­3 Phone +49 841 89­40300 Fax +49 841 89­30900 email [email protected] www.audi.com/investor­relations