Audi 2012 Annual Report Download - page 261

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The Audi Group primarily generates revenues from the sale of cars. In addition to the Audi brand,
sales also comprise vehicles of the Lamborghini brand and vehicles of the other brands in the
Volkswagen Group. Ducati motorcycles and accessories are sold in the Motorcycles segment.
EUR million 2012 2011
Audi brand 35,851 34,456
Lamborghini brand 421 268
Other Volkswagen Group brands 2,725 3,444
Other automotive business 9,565 5,928
Automotive 48,562 44,096
Ducati brand 148 –
Other motorcycles business 61 –
Motorcycles 209 –
Revenue 48,771 44,096
An explanation of the different types of revenue is provided under Note 1, “Revenue.”
The Audi Group, through Volkswagen AG, Wolfsburg, and its subsidiaries that are not part of the
Audi Group, has key accounts with whom there exists a relationship of dependence:
Revenue with key accounts 2012 2011
EUR million % EUR million %
Volkswagen AG, Wolfsburg 4,326 8.9 3,684 8.4
Volkswagen AG subsidiaries
not belonging to the Audi Group 10,779 22.1 9,877 22.4
50 German Corporate Governance Code
The Board of Management and Supervisory Board of AUDI AG submitted the declaration pursuant
to Section 161 of the German Stock Corporation Act (AktG) relating to the German Corporate
Governance Code on November 29, 2012 and subsequently made it permanently accessible on
the Audi website at www.audi.com/cgk-declaration.
51 Details relating to the Supervisory Board and Board of Management
The remuneration paid to members of the Board of Management complies with the legal require-
ments as well as with the recommendations of the German Corporate Governance Code.
The total short-term remuneration comprises fixed and variable components. The fixed compo-
nents assure a base remuneration that enables the members of the Board of Management to
execute their duties conscientiously and in the best interests of the Company, without becoming
dependent upon the attainment of short-term targets. Conversely, variable components that are
contingent on the economic position of the Company reconcile the interests of the Board of
Management with those of the other stakeholders.
The remuneration paid to members of the Board of Management for the 2012 fiscal year was
EUR 22,745 (14,286) thousand, of which EUR 4,284 (4,084) thousand related to fixed remunera-
tion components and EUR 18,461 (10,202) thousand to variable components. Additionally, costs of
EUR 6,181 (−) thousand were incurred for prior years. As of the balance sheet date there were still
obligations totaling EUR 15,000 (9,200) thousand, for which appropriate provision had been made.
Disclosure has not been made of the remuneration paid to each individual member of the Board
of Management, by name, pursuant to Section 314, Para. 1, No. 6a), Sentences 5 to 9 of the
German Commercial Code, as the 2011 Annual General Meeting adopted a corresponding reso-
lution valid for a period of five years.
In addition to fixed payments in cash, there are varying levels of contributions in kind, including,
in particular, the use of company cars.
The variable remuneration component paid to each member of the Board of Management com-
prises a bonus based on the business performance of the previous two years and, since 2010,
has also comprised a long-term incentive (LTI). Using a launch scenario, the LTI was granted
to the Board of Management for the first time in 2011, based on the 2010 fiscal year and the
anticipated performance in 2011. The LTI for 2012 was based on performance in the 2010 and