Audi 2013 Annual Report Download - page 181

AUDI AG (SHORT VERSION ACCORDING TO GERMAN COMMERCIAL CODE, HGB)
NET WORTH // FINANCIAL POSITION // PRODUCTION
MANAGEMENT REPORT
178
A
NET WORTH
The balance sheet total of AUDI AG rose by 12.0 percent in the
2013 fiscal year to EUR 27,821 (24,845) million.
The increase in fixed assets to EUR 9,703 (8,594) million is
mainly attributable to capital investments in property, plant
and equipment and long-term financial investments.
Total capital investments for AUDI AG of EUR 2,641 (2,704)
million were on a par with the previous year’s high total. The
investment focus was on new products and innovative drive
technologies.
The increase in current assets including deferred income, to
EUR 18,118 (16,251) million, is mainly due to higher invest-
ments in securities.
The past fiscal year saw equity including special items with an
equity portion, rise to EUR 8,514 (6,619) million as a result of
the capital injection of EUR 1,895 million by Volkswagen AG,
Wolfsburg. The equity ratio of AUDI AG climbed to 30.6
(26.6) percent.
Borrowed capital (including deferred income) showed a year-
on-year rise to EUR 19,307 (18,226) million. Within this total,
provisions in particular rose to EUR 10,902 (9,864) million.
Condensed balance sheet
EUR million Dec. 31, 2013 Dec. 31, 2012
Fixed assets 9,703 8,594
Current assets incl.
deferred expenses 18,118 16,251
Balance sheet total 27,821 24,845
Equity incl. special items with
an equity portion 8,514 6,619
Provisions 10,902 9,864
Liabilities incl. deferred income 8,405 8,362
Balance sheet total 27,821 24,845
FINANCIAL POSITION
AUDI AG increased its cash flow from operating activities to
EUR 5,475 (5,361) million in the 2013 fiscal year thanks to
the Company’s positive development.
In the same period, the cash used in investing activities for
current operations, excluding the change in securities,
amounted to EUR 2,627 (2,588) million. Including cash de-
posits in securities, it totaled EUR 3,373 (2,795) million.
Alongside the development of new products, the focus was on
the continuing development of innovative drive technologies.
In 2013, AUDI AG again succeeded in financing all capital invest-
ments from its own resources, while also generating a substan-
tial surplus. With a net cash flow of EUR 2,102 (2,566) million,
AUDI AG once again underscores its enduring financial strength.
The net liquidity as of December 31, 2013 increased to
EUR 12,919 (11,390) million.
PRODUCTION 1)
AUDI AG built 1,167,508 (1,111,574) cars of the Audi brand
in the 2013 fiscal year. It also made 427,700 (354,350) parts
sets for local production in China.
1) Prior-year figures have been marginally adjusted.