Audi 2012 Annual Report Download - page 212

215
Consolidated Financial
Statements
202 Income Statement
203 Statement of Recognized
Income and Expense
204 Balance Sheet
205 Cash Flow Statement
206 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
208 Development of fixed assets
in the 2012 fiscal year
210 Development of fixed assets
in the 2011 fiscal year
212 General information
212 Accounting principles
214 Group of consolidated
companies
216 Consolidation principles
217 Foreign currency translation
218 Recognition and
measurement principles
227 Notes to the Income Statement
233 Notes to the Balance Sheet
244 Additional disclosures
266 Events occurring subsequent to
the balance sheet date
267 Statement of Interests
held by the Audi Group
The inclusion of the entity resulted, as of December 31, 2012, in an increase of EUR 209 million in
the Audi Group’s revenue and in a decrease, after taxes, of EUR 27 million in profit, taking into
account amortization of the hidden reserves realized upon the allocation of the purchase price.
Had Ducati already been included in the Consolidated Financial Statements as of January 1,
2012, the Group’s revenue as reported at December 31, 2012 would have been approximately
EUR 422 million higher, whilst the reported profit after tax taking into account amortization of
the hidden reserves realized upon the purchase price allocation would have been increased by
around EUR 34 million.
Since December 31, 2011, the group of consolidated companies has also included the following
acquired Ducati companies:
– DUCATI MOTOR HOLDING S.P.A., Bologna (Italy)
– Ducati Japan K.K., Tokyo (Japan)
– Ducati Motor Deutschland GmbH, Cologne
– Ducati Motor (Thailand) Co. Ltd., Amphur Pluakdaeng, Rayong (Thailand)
– DUCATI NORTH AMERICA INC., Cupertino, California (USA)
– Ducati North Europe B.V., The Hague (Netherlands)
– Ducati (Schweiz) AG, Wollerau (Switzerland)
– DUCATI U.K. LIMITED, Towcester (United Kingdom)
– DUCATI WEST EUROPE S.A.S., Colombes (France)
– DUCMOTOCICLETA S DE RL DE CV, Mexico City (Mexico)
The group of consolidated companies was also extended to include the following companies:
– Audi Akademie GmbH, Ingolstadt, established in 1993
– Audi Tooling Barcelona, S.L., Barcelona (Spain), established in 2003
– PSW automotive engineering GmbH, Gaimersheim, acquired in 2011
The main influences on the 2012 opening balance sheet of these first-time consolidations are as
follows:
EUR million 2012
Non-current assets 7
Current assets 99
of which inventories 56
of which cash and cash equivalents 40
Equity 6
Non-current liabilities 18
Current liabilities 82
Balance sheet total 106
With effect from May 1, 2012, AUDI AG sold Audi Retail GmbH, Ingolstadt, and its subsidiaries
to VGRD GmbH, Wolfsburg. As a result, the fully consolidated companies Audi Retail GmbH,
Audi Berlin GmbH, Berlin, Audi Frankfurt GmbH, Frankfurt am Main, Audi Hamburg GmbH,
Hamburg, Audi Hannover GmbH, Hanover, Audi Leipzig GmbH, Leipzig, and Audi Stuttgart GmbH,
Stuttgart, as well as Audi Zentrum München GmbH, Munich (which had not been included in the
group of consolidated companies), ceased to form part of the Audi Group. The net assets were
deducted on the basis of their carrying amounts. This resulted in an outflow of cash and cash
equivalents amounting to EUR 63 million.