Audi 2012 Annual Report Download - page 173

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Current assets fell year on year to EUR 22,357 (24.811) million, mainly as a result of the cash
used for the investments acquired.
Equity as of the balance sheet date increased to EUR 15,033 (12,903) million. The main factor
behind this rise was the cash injection of EUR 1,569 million by Volkswagen AG, Wolfsburg, into the
capital reserve of AUDI AG. The allocation to the other retained earnings of the balance remaining
after the transfer of profit increased equity by a further EUR 494 million. As of December 31,
2012, the equity ratio for the Audi Group was therefore 37.2 (34.9) percent.
Non-current liabilities at the end of 2012 increased to EUR 9,952 (8,610) million. This increase
was mainly attributable to increased provisions for pensions in response to the interest rate.
Current liabilities of EUR 15,441 (15,507) million were on a par with the previous year.
FINANCIAL POSITION
The cash flow from operating activities came to EUR 6,144 (6,295) million in the past fiscal year,
thus almost equaling the previous year’s high level.
Disregarding the investments acquired, the cash used in investing activities for current opera-
tions amounted to EUR 3,237 (2,841) million in the same period. EUR 2,334 (2,266) million
was spent on investments 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 words taking account of changes in cash
deposits and loans extended, came to EUR 4,896 (6.911) million.
As in previous years, investments in operating activities were financed entirely from own resources.
After the acquisition of investments amounting to EUR 3,567 (64) million, the net cash flow was
EUR – 660 (3,390) million. As of the end of 2012, net liquidity was lower at
EUR 13,396 (15,716) million to a large extent as a result of the investments acquired.
The other financial obligations as of year-end, which mainly comprise ordering commitments,
amounted to EUR 3,002 (2,944) million. More detailed information is contained in Section 42 of
the Notes: “Other financial obligations.”
SOCIAL AND ECOLOGICAL ASPECTS
CORPORATE RESPONSIBILITY
We have placed customer delight at the very core of our Strategy 2020. The basis for customer
delight comprises an affinity for the Audi brand and our Company on the one hand, and wide-
spread acceptance in the markets to underpin the continuing success of the Audi Group on the
other hand.
In all corporate decisions, social and ecological aspects are therefore taken into account along-
side economic factors. Employees, social groups and natural resources consequently all need to
be treated responsibly. AUDI AG plans to step up its ability to provide information and report on
its corporate responsibility in the future. Detailed information on the topic of sustainability and
on social and ecological aspects is provided in the Corporate Responsibility Report, which is being
published for the first time in the second quarter of 2013.