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2014
Annual Report
we
create
tomorrow

Table of contents

  • Page 1
    2014 Annual Report we create tomorrow

  • Page 2
    ... challenge and to live "Vorsprung durch Technik" by using tailored solutions. This means progress and the responsibility to drive these actions forward sustainably. Always with the goal of delighting our customers. We create tomorrow is more than just a statement for us. It is a mindset. And what...

  • Page 3
    ... for used cars. We continue the story. >> 030 02 03 01 The Internet of the Rings. What will it be like when machines, materials and entire factories communicate with each other and with us ? A factory tour of Industry 4.0. >> 034 04 Experience the world of the Annual Report interactively...

  • Page 4
    ..., g-tron and h-tron - Board Member for Technical Development Prof. Dr.-Ing. Ulrich Hackenberg discusses the drive systems of the future with some of his engineers. >> 066 Audi 2014 Annual Report we create tomorrow You should take note of this symbol. Wherever you see it, it means that there are...

  • Page 5
    Big Data. Big Change. Big Opportunities. Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization, and Prof. Viktor Mayer-Schönberger discuss the digital revolution and how it is changing mobility. >> 080 The fascination of procurement. How can we source a ...

  • Page 6
    ...makes it so unique. >> 134 14 24+1. In 24 statements, three Audi racing experts describe their key moments on the road to the 13th victory in the 24 Hours of Le Mans. >> 108 18 Finances. Combined Management Report of the Audi Group and AUDI AG >> 141 Audi Consolidated Financial Statements >> 215

  • Page 7
    ...digitize our business models and promote seamless connectivity between cars and our customers, the infrastructure and other vehicles. ultra ...signifies our ambition to give "Vorsprung durch Technik" a new dimension in the shape of sustainability and efficiency. PHOTOS : AUDI AG, Getty Images, Uli...

  • Page 8
    ... 2014 set out to reclaim time and restore quality of life for the inhabitants of Mexico City. Drivers there spend on average one month a year sitting in traffic jams. This problem prompted the winners of the award to launch a large-scale data-gathering project in which commuters submit their current...

  • Page 9
    ...production network - for example, by setting up new plants in Mexico and Brazil, where construction work continued according to schedule in the past fiscal year. tations with the Chairman of the Board of Management in between the regular meetings, on such topics as the Company's strategy, business...

  • Page 10
    ... Annual Financial Statements of AUDI AG, the Consolidated Financial Statements as well as the Combined Management Report of the Audi Group and AUDI AG for the 2014 fiscal year, and in each case issued its unqualified certification. The members of the Audit Committee and Supervisory Board received...

  • Page 11
    The Board of Management. The Board of Management of AUDI AG and three models that impressively embody the Company's status as a technological pioneer and evidence its cutting-edge mobility solutions : the 1299 Panigale S, the Ducati brand's most exhilarating superbike ; the Lamborghini Huracán LP ...

  • Page 12
    Prof. Rupert Stadler Luca de Meo Dr. Bernd Martens Dr.-Ing. Hubert Waltl > > Chairman of the Board of Management > > Marketing and Sales > > Procurement > > Production THE BOARD OF MANAGEMENT > > 01 2 > > 013

  • Page 13
    ...Progress motivates human beings. For us too, it is an incentive to develop evelop op p new ne solutions so to the complex co x ch challenges of today. day We W tackle issues holistically and are always searching for the best combination of our ideas ...

  • Page 14
    01 02 04 03 we progress

  • Page 15
    01 The crystal gazers. TEXT : Barbara Wege TEXT: PHOTO : Klaus Mellenthin

  • Page 16
    Sunday morning. No email, no conferences, no necktie. Rupert Stadler, Chairman of the Board of Management of AUDI AG, and innovation expert Ulrich Weinberg take a rare opportunity to gaze into the crystal ball of the future. A future in which the automobile will expand beyond ...

  • Page 17
    ...digital, ultra and premium. We are growing worldwide and delighting customers around the globe. In keeping with the motto "The car gets bigger than the car," we are working on connecting the car with the overall transport infrastructure and with other vehicles. We are also cutting CO2 emissions. All...

  • Page 18
    ... 1990, working in controlling for Sales and Marketing. He was appointed Commercial Director of Volkswagen/ Audi España S.A. in Barcelona in 1994. Rupert Stadler became Head of the Board of Management's Office for the Volkswagen Group in 1997, and in addition became Head of Group Product Planning in...

  • Page 19
    ... for Berlin is by no means necessarily right for Seoul. We are building a bridge between our customers' premium expectations and the community spirit. Through the pilot project Audi unite, for example, four architects who are all friends could share an Audi RS 6 Avant. ILLUSTRATION : HPI School of...

  • Page 20
    ... If customers are not satisfied with the product or service, the process or its individual stages are repeated. Operating in variable workspaces with mobile desks and whiteboards, the teams visualize ideas with the help of sticky notes. Having enough space to build prototypes is also important. The...

  • Page 21
    In the video: Follow the meeting bet ween Ruper t Stadler and Ulrich Weinberg in Berlin. PHOTOS : Klaus Mellenthin

  • Page 22
    ...innovations on the periphery of our area of business activity. For instance, we work together with the Swiss startup Climeworks, which has developed a method of capturing CO2 from the air. It is being used for the first time in a pilot plant in Dresden. Together with our project partners Climeworks...

  • Page 23
    .... Their natural element is the wild snowy terrain off the marked ski slopes. They are exhilarated by the ultimate freedom they get from really cutting loose on one of nature's most beautiful playgrounds. Freeskiers are adventurers and acrobats who master the impossible with polished technique - and...

  • Page 24
    024 > > 025

  • Page 25
    ... abilities are no less developed. Yo u c a n w a t c h spectacular action shots with Bene Mayr here. Bene Mayr >> Bene is one of the best freeskiers in Germany. The 25-year-old Munich native has already had a lot of open backcountry under his skis. Internationally, too. In 2014 he participated in...

  • Page 26
    ... > "The mountains are my playground" - and have been since Nadine was three years old. Now, the Austrian skier is 25 years old and one of the world's best female freeriders. Her current successes: FREERIDE WORLD TOUR Champion 2013 and 2014. Snow and ice ; this is the terrain in which she is fully in...

  • Page 27
    ... partner of this extraordinary challenge since the 2013/2014 season and is thereby expanding its winter sports sponsorship to a young target group. For many years, Audi has been one of the most important partners of competitive skiing internationally. For instance, Audi is the name sponsor of the...

  • Page 28
    ... it the renowned Red Dot Design Award in 2014 in the category Interior Design. Nadine studies Sports Management, while Bene is part-owner of a bar in Munich. They spend much of their time online, accessing social media, checking on movie productions, expeditions, projects and exotic tours. Their...

  • Page 29
    ... TV advertising campaign. This is an important topic. After all, premium quality is a priority for Audi used cars. So let's take a closer look at a TV commercial from the campaign and continue the story. From the perspective of the star of the show : the used Audi. Cut to close-up TEXT : Boris Zie...

  • Page 30
    ...sun. As a car, it's the sort of occasion I tend to be driven. My last owner could always rely on me, but barely a year and a half on, decided to trade me in for a younger model, a Q7, after I became a bit too small for his growing family. Fair enough ! Now I'm at the Audi Approved :plus dealer. Only...

  • Page 31
    ...the rush of air left by the police car, before my accelerator is pressed gently again. The driver was the first to get over his surprise and notices that the lights have since changed to green. Something went totally wrong here. Or right, depending on your point of view. Apparently I'm not the only...

  • Page 32
    ...runs according to plan with Audi used cars. TRUST IS GOOD. 110 CHECKS ARE BETTER. In the 110-point check that Audi has developed as part of its Approved :plus program, the quality of each individual used car is checked carefully before it is handed over to a new owner. In accordance with the service...

  • Page 33
    ... tools and buildings will also be online on the Internet of Things. What does it mean for Audi when machines, materials and entire factories network ? How the Internet of Things is becoming the Internet of the Rings - a look into the exciting future of Audi Production. PHOTOS : Niels Schubert, AUDI...

  • Page 34
    ... anatomy of the customer's hand and was just now produced using a 3D printer. Assembly line ? Not here. Whereas the pulse of production is normally determined by the line and cycle times, under the workshop principle all models are built in a single hall. Tools and materials use sensors and chips to...

  • Page 35
    ... design of an Audi demands quite a bit from both materials and tools. Tools that think for themselves have been making the production process easier at Audi since 2010. Take the pressing of body parts, for example. Sensors in the tool measure the position of the sheet and the forces acting...

  • Page 36
    ...can cause the part to be rejected later during quality control. So the tool on this press line thinks for itself. Sensors measure how the He learned precision from the ground up. Waltl began his career over 40 years ago with an apprenticeship as a toolmaker at Auto Union Ingolstadt. As an apprentice...

  • Page 37
    ... can have attachment aids, for example, printed overnight at the Start-up and Analysis Center. This achieves cost and time savings of over 75 percent. February 2014. Whether plastic or metal : In the future, tools and components will be produced using the 3D printing process. PHOTOS : AUDI AG

  • Page 38
    ... number of individualization options is immense : For the Audi A3, there are 1038 variants, or more possibilities than stars in our universe. At the same time, the Audi Group's quality claim will have to be fulfilled in the future at 17 production sites from Ingolstadt to San José Chiapa in Mexico...

  • Page 39
    ...example with our E3 research factory. It models production under realistic conditions. We are using it to research technologies for the future. WALTL : But our work in the area of Industry 4.0 is not limited to just technologies. We are also conducting joint research into the integration and role of...

  • Page 40
    Dr. Waltl, how is Audi creating tomorrow? Automotive production is undergoing dramatic change today. Systems are increasingly self-guided, employees are concentrating more on creative tasks. And yet, people and machines are coming closer together in that they are working side-by-side, cooperating ...

  • Page 41
    05 07 06 08 09

  • Page 42
    ...People who want to change ch h the world d need d visionary v power. wer. It is what drives s us s and dw what we ea at A Audi i ca call "Vorsprung "Vorspr r rung ru durch ur Technik." Te Technik nik." " In sh short: What W Wh hat d drives riv us is i s the f future fu ...

  • Page 43
    05 3 Icon . PHOTOS : Sjoerd ten Kate

  • Page 44
    ... a revolution for nearly 20 years - and the name was meant to be every bit as revolutionary. TT stands for Tourist Trophy, as a homage to the NSU TT and to the legendary motorcycle race on the Isle of Man. When the show car was presented to the international public for the first time in 1995, no...

  • Page 45
    ... cars in Hollywood films. Please buckle your seat belts. Daniel Simon is about to take off with the first-generation Audi TT. Automotive designer Daniel Simon is driving the three generations on the Isle of Man. He studied automotive design in Pforzheim, then worked as a designer at Volkswagen...

  • Page 46
    ... out in 1995. It was developed by Ulrich Hackenberg, at that time the project manager and now Member of the Board of Management for Technical Development, together with designer Thomas Freeman and engineer Ralf-Gerhard Willner . "Incredible, this car, a big bang in automotive history. Revolutionary...

  • Page 47
    .... Daniel Simon gets in. "The unmistakable basic architecture was retained with this Audi TT. The line above the door is eye-catching. It swings up toward the rear wheel. This is powerfully evocative of the first Audi TT. In the rear, though, the bumper is visible. That makes the car appear even...

  • Page 48
    "The second-generation Audi TT is very dynamic. Its agility is transported via the functional design language and mature vehicle components. It continues the goals of the first Audi TT and makes its own mark." W E C R E AT E I N N O VAT I O N > > 05 048048 > > 049

  • Page 49
    ...in the least. He is sitting in the new Audi TTS and presses the start button. A quiet rumble sounds. But it isn't a thunderstorm gathering in the distance, it's the engine of the new sport coupe in which he is sitting. Daniel Simon suddenly has an easy big-kid grin on his face, for he can guess what...

  • Page 50
    ...cluster that consolidates the tachometer, speedometer and the MMI display into a central, digital unit. Here you can learn more about how the driver can use the virtual cockpit to view all the important information. Three questions for Audi development chief Prof. Dr.-Ing. Ulrich Hackenberg Sporty...

  • Page 51
    w TEXT : Ottavio Cappellani A spectacular thriller penned by the famous Italian crime writer Ottavio Cappellani. Starring two agents, the Audi R8 LMX with laser light, and a burning passion. Played out in a dark, mysterious tunnel. 0 PHOTOS : Bernd Kammerer Fuel consumption and emissions figures...

  • Page 52
    ... technologies. But now she sees him from her hideout in this surreal, glaring light she has secretly followed. Rage explodes in her head, the muscles under her tight-fitting camouï¬,age gear tense. Now of all times, here at the destination where the two of them could have revealed the secret...

  • Page 53
    ... cold, but she would gladly take revenge this very instant : seething, angry and direct, like her rage. "I should've guessed !" she says to herself. The signs were there, and had been there for some time. While he smiles at the blonde in the white coat and moves PHOTOS : Bernd Kammerer

  • Page 54
    ... to herself over and over, while the images of her own naivety play out in front of her eyes. Years of training and concerted practice, all for nothing. Why is he now getting into this sports car that seemed to be enveloped in a mysterious light ? They got to know each other during traintraining...

  • Page 55
    From a speed of 60 kilometers per hour, the laser spot is also activated if the LED high beam is switched on using the high-beam assist. She fights against her own rage and squints her eyes to recognize what is displayed on the screens. She is familiar with these fractals, these vector lines that ...

  • Page 56
    She opened her eyes wide. Light, the initial form that the ma material assumes before it is converted into solid matter, was one of her specialties within the firm. Light can't and mustn't be new. The light she knows is ancient, the secret it contains in its particles is older than world creation ...

  • Page 57
    ... control. She kicks him frantically in the darkness, grabbing him around the collar of that damn suit. Her partner is unconscious. She puts him on the car's front passenger seat, ties his hands together with the seat belt, gets behind the steering wheel as if an injustice had finally been put right...

  • Page 58
    The high-beam assist quickly switches to dipped beam in response to oncoming traffic. W E C R E AT E I N N O VAT I O N > > 06 058 > > 059

  • Page 59
    ... light is easy on the driver's eyes and oncoming traffic is also not blinded. Intelligent camera sensors detect oncoming vehicles early on and then actively exclude these areas from the light cone. * TECHNICAL DATA - AUDI R8 LMX Engine type Displacement in cc (valves per cylinder) Max. power output...

  • Page 60
    Ta k e a n e x c l u s i v e l o o k behind the scenes of the "Night watch" photo production. A fine, linear marking light helps the driver position the vehicle when cornering at speed. W E C R E AT E I N N O VAT I O N > > 06 060 > > 0 61

  • Page 61
    vs. 07 TEXT : Ann Harder Experience what is currently the world 's spor tiest piloted driving car in the world at the German To u r i n g C a r M a s t e r s ( D T M ) season finale at Hockenheim. PHOTOS : Bernhard Huber, AUDI AG

  • Page 62
    ...In front of a world public. At speeds of up to 240 kilometers per hour, the technology platform will attempt to follow the racing line around the Hockenheimring. Without a driver. The Audi development engineers have thoroughly tested the technology platform to its limits, optimizing the systems over...

  • Page 63
    ... this time on the left side, behind the steering wheel. Now it's up to him to perform at his best. He slams down the pedal and accelerates to the absolute limit. At the very last moment, he brakes, takes the optimal line through the corner, and accelerates full speed down the straights. The car gets...

  • Page 64
    ... on board ensure reliable control of the vehicle even at the limit. This enables the Audi RS 7 piloted driving concept to process tremendous amounts of data and sensor signals in real time. Accelerator, brake, steering and transmission are controlled very precisely. A 412 kW (560 hp) car driven...

  • Page 65
    PHOTOS : Manfred Jarisch

  • Page 66
    ... be overcome ? How can new technologies deliver more driving pleasure ? Board Member for Technical Development Prof. Dr.-Ing. Ulrich Hackenberg meets some of his engineers to discuss the drive strategy. Efficiency emotion. TEXT : Johannes Köbler and W E C R E AT E I N N O VAT I O N > > 08 066...

  • Page 67
    ...-gas drive system for which the Company produces synthetic methane at its facility in northern Germany. The only raw materials required are carbon dioxide and water ; green power supplies the process energy. When running on largely CO2-neutral. The five-door premium compact car is the first Audi...

  • Page 68
    ... as the basis. These recover substantial amounts of energy during deceleration and thus help to save fuel. To achieve this, Audi has developed a new partial electrical system running at 48 volts. Since it provides substantially more power than the current 12-volt system, it unlocks potential for new...

  • Page 69
    ...drive. We will now be bringing one such model onto the market every year." Looking further ahead, however, the development chief expects the all-electric the system identifies the right moment to switch from the electric motor to the TDI where this will save energy. At the very heart of the electri...

  • Page 70
    ... 400 kW (approximately 540 hp) of power to the rear wheels. An electric motor, driven by a ï¬,ywheel system, propels the front wheels with more than 170 kW for a few seconds at a time. In winning the 24 Hours of Le Mans in 2014, the hybrid racing model used 22 percent less fuel than its predecessor...

  • Page 71
    ...DESERT RUMBLES. Secret commando mission : the press shoot for the new Audi Q7. After the tremendous success of the first generation, everyone wants to catch a glimpse of it - but only a few are granted the privilege. A live report from the California desert. PHOTO : AUDI AG TEXT : Berthold Dörrich

  • Page 72
    W E C R E AT E I N N O VAT I O N > > 09 072 > > 073

  • Page 73
    ... one live. My family had just expanded by two, and the generous interior and the third row of seats were just what we needed. Mine was one of the first to be delivered to a customer. Black - a real stunner, and not just in terms of looks. I had to wait a long time before Audi ventured into the SUV...

  • Page 74
    ... large amount of development effort went into reducing the vehicle's weight. of experience with lightweight construction have paid off. The chassis alone shed more than 100 kilograms and the engineers found another 71 kilograms in the body structure. A clear statement in the premium SUV segment...

  • Page 75
    ...eye. Driver assistance systems, infotainment and connectivity, for example. In the Q7, these are joined by a retractable etractable display dis on the dashboard and the he new MMI control c interface with optional touchpad. It will therefore be exceptionally easy to use the optionally available Audi...

  • Page 76
    ...we are working on products that are efficient, sustainable, connected and intuitive to operate - and that offer our customers a sporty, premium brand experience. We stand for innovative technologies for traditional and alternative drive systems, lighting, driver assistance, connectivity and piloted...

  • Page 77
    10 11 13 12 responsibility

  • Page 78
    ...W We live responsibility nsib bility and cre create eate tomorrow tom with this in mind. Sustainability ty serves s as the standard for our corporate activities and is firmly anchored in our core values ...

  • Page 79
    ...networks, ï¬,exible communication and high-speed information already permeate everyday life. Data is the oil of the 21st century. Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization, meets scholar and author Prof. Viktor Mayer-Schönberger at the Audi Data Center...

  • Page 80
    ... what customers come to expect in their vehicle too, because the car has evolved into more than simply a means of transportation. The past ten years have seen increased connectivity inside the car. And as a next step, vehicles are now starting to connect with the world around them. So mobility is...

  • Page 81
    ...car manufacturer, it mainly means we can analyze the information we already have even faster and put it to even better use. Information and data are relevant for every stage of the value chain. But the knowledge that we generate from it is more important still. For adapting our products to customer...

  • Page 82
    ...high degree of individuality while still practicing mass production. The companies that do so successfully are the pioneers of this development. Big Data has evolved into a huge business area. But society doesn't always view this development as purely positive. Many people feel they have been turned...

  • Page 83
    ... for Controlling and Accounting in 1991. After other positions within the Group, he served as Executive Vice President of Volkswagen Group China from 2004 to 2007. He has been Member of the Board of Management for Finance and Organization at AUDI AG since 2007. What kind of added value do you mean...

  • Page 84
    ... are becoming increasingly important ways of handling it. The term Big Data describes the analysis of large data volumes from different sources of information in order to use the findings obtained from them in making decisions. Evaluating data in real time therefore becomes a success factor...

  • Page 85
    1 PHOTO : AUDI AG

  • Page 86
    ... rare changes. Today, starting a new job often means a geographic move - and not only to another city, but sometimes even to another country. Industrial mechanic Peter-Michael Hahn inspects the filling valve on a gluing robot to ensure correct dosage. The Audi Research & Development Center in...

  • Page 87
    ... dos Pinhais, Brazil, and San José Chiapa, Mexico - Audi will have production sites in 13 countries. Audi has developed into a global corporation in recent years. Today, approximately 80,000 people work for the Audi Group. Innovation plays an important role in all areas. In 2014, for example, the...

  • Page 88
    ...site at the San José Chiapa Training Center. Audi is providing the instruction and training in close cooperation with the Technical University in Puebla. The International Trainee Program is a very popular way to start in the Company. Fuel consumption and emission figures at the end of the Annual...

  • Page 89
    ... concept to the Audi Ideas Program. Florian Preis shows the 14-spindle tool to his daughter Lena. PHOTOS : AUDI AG Ergonomics, promoting good health, as well as a good balance of work and private life are vital elements of an attractive workplace. These are needs that all employees have in common...

  • Page 90
    1 TEXT : Sabrina Kolb There are around 80,000 Audi Group employees worldwide. They work in teams with a mix of nationalities, carry out projects at multiple locations simultaneously, and communicate in several languages spanning the world's time zones. This diversity is enriching but also poses ...

  • Page 91
    ... to support families. Nicola Priemer and her children also make use of this service. Boris Meiners, Head of Brand Development, is the father of two daughters. He relies on the miedelHaus in Ingolstadt. "The whole family was in France for two years, until April 2013. When we returned to Germany it...

  • Page 92
    ... environment that provides people with the freedom to be creative and to develop personally - with ï¬,exible work schedules, modern communication tools and comprehensive concepts for child care. Automation and digitization continue to advance. With personalized workstation design and preventative...

  • Page 93
    A creature loved by all, it serves a vital function in the terrestrial ecosystem - the honey bee, Apis mellifera. era. Indispensable for food production, the honey bee is the third most important domesticated animal for humans. PHOTO : Sam Droege

  • Page 94
    ... the surface of the globe, then man would only have four years of life left. Without bees, after all, there would be practically no pollination of ï¬,owering plants, and the ecological and economic impacts of that would be dramatic. The Audi Environmental Foundation has been committed to preserving...

  • Page 95
    ..., or details related to communication between the bees. Automatically generated graphics make the honey bees' highly complex life processes and the interrelationships with nature visible and easy to understand. > > Prof. Dr. Jürgen Tautz PHOTO : Sam Droege ILLUSTRATION : AUDI AG "HOBOS is the...

  • Page 96
    ... young people learn the fun way about bees' lives as social organisms and their key balancing role in nature. 8 1 2 3 is built. And thermographic images captured with the latest technologies make it possible to address questions in unprecedented ways. A newly developed system allows researchers to...

  • Page 97
    ... extensive protection of the honey bee - goes beyond purely financial support. Together with AUDI AG, the Audi Environmental Foundation is providing the site for the HOBOS 4.0 research station : on the Audi Münchsmünster plant premises near Ingolstadt. The plant primarily produces components used...

  • Page 98
    ...insects was created on an ecological compensation area near the plant. Hobby beekeepers Michael Wansner and Andreas Kopp, both Audi employees, take care of the eight colonies with more than 400,000 honey bees that now live in Max Emanuel Park, Ingolstadt. See for yourself the industrious way of life...

  • Page 99
    ... Audi. It helps ensure that Audi employees will consistently turn "Vorsprung durch Technik" into reality in the coming years at 17 locations in 13 countries. After all, in an industry where the playing field is the entire world and time is a crucial competitive advantage, nothing is more important...

  • Page 100
    of procurement. Using the Audi RS 5 TDI concept as an example, a car that combines a biturbo engine with an electrically driven compressor, we demonstrate how team play delivers innovation. This includes team play between the various Audi departments as well as early, close cooperation with ...

  • Page 101
    ...and CO2 emissions. The V6 3.0 TDI engine obtains its power from the boost pressure that the biturbo builds up. This depends on the energy in the exhaust gas. The Audi developers came up with the idea of using an additional electrically driven compressor to speed up the boost pressure buildup in the...

  • Page 102
    ...important step in enabling the start of series production in the next few years. While development on the part of the supplier took place predominantly in France and the United Kingdom, Poland was the production location. International networking worked. In the intercultural mix of people, countries...

  • Page 103
    ... Hochschule Ingolstadt (THI) developed the part-time MBA course in Procurement Management in close cooperation with Audi Procurement. The first Master of Business Administration candidates started the course on July 11, 2014, including nine employees from the Volkswagen Group. The respective Group...

  • Page 104
    ..., who can help us turn ideas into reality. Audi works with them on new concepts, developing them until they are ready for series production. Our goal is to be our suppliers' preferred customer. This way we can procure new technologies even if they are not yet available on the market. We have...

  • Page 105
    ...It's sn no not ot merely mere ere ely e l about satisfying sati atisfyi g customers, cus omers, but inspiring rin them, em surprising surp ising g them and offering them more mo oe than they might expect - wherever they come into contact with the Audi brand ...

  • Page 106
    14 16 15 17 18 passion

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    PHOTOS : AUDI AG

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    .... New engines. Even more challenges. The 24 Hours of Le Mans was a superlative, action-packed thriller in 2014. Nothing was the same as before. In 24 exclusive statements, Reinke, McNish and Kristensen describe firsthand their key moments from the high-speed drama on the road to the 13th victory.

  • Page 109
    ... : AUDI AG ever : good teamwork and efficient pit stops." Chris Reinke immediately and quickly changes tires. Audi Sport Team Joest - Le Mans 2014 #1 Audi R18 e-tron quattro : Marc Gené (ES) for Loïc Duval (F), Lucas di Grassi (BR), Tom Kristensen (DK) ; starting position seven. #2 Audi R18...

  • Page 110
    2:45 p.m. "At Le Mans you can never feel too secure about your position." Allan McNish W E C R E AT E P A S S I O N > > 14 110 > > 111

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    PHOTOS : AUDI AG

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    ... ACCIDENT "Le Mans is so unique, we designed a special body for it." Chris Reinke Audi remains firmly in third place with the #2 car. A good sign after a week in which the smooth pace was marred by the reconstruction of the #1 Audi. 12 LOST TIME "Although Marco Bonanomi was driving carefully in...

  • Page 113
    ...5 a.m., the #7 Toyota, until then the fastest car, retires with an electrical problem. At first there is no sign of the car anywhere. 19 LEAD CHANGE "We knew how strong the opposition is. It was easy enough for us to check the lap times. We were able to get closer again." Chris Reinke Then at 1:30...

  • Page 114
    ...Motorsport p Dr. Wolfgang g g Ullrich "As the Head of Audi Motorsport, I have experienced a lot of fantastic races. Le Mans 2014 was very special. Only once before did we ever have such a strong group of opponents : in 1999, our first year. We had an unpleasant surprise during practice, but we were...

  • Page 115
    ... : Keyless entry and locking with your smartphone. The car of your choice is delivered and picked up again. Availability : San Francisco www.audiondemand.com An Audi for exclusive residences - access to a selection of full-sized models from Audi, right outside your door. Spontaneously book the...

  • Page 116
    ... lifestyle so well that they signed a two-year contract. When Anna needs the car, she reserves it using the Audi unite app and looks on the map to find where it's parked. A transmitter on her key registers that she's the driver. And at the end of the month, an easy-to-read bill provides a detailed...

  • Page 117
    ...Using the smartphone app to order an Audi is so easy. "In a city known for innovation like San Francisco, on-demand services ervices are popular," explains Frank. The new service from Audi di means eans ity, that I can be the one who chooses when and where ere to that I always get exactly the model...

  • Page 118
    ... is currently becoming more than it has been in the past. It is changing from a vehicle into a service device - with options that were unthinkable a short time ago. It might be that the car in the future arranges its own appointments with the service center, plans routes according to the business...

  • Page 119
    16 What do you get when gigantic waves, 1 the Ducati Monster 82 and the Lamborghini Huracán LP 610-4 meet ? Pure dynamism and emotion ! TEX T : Bernd Huesmann Fuel consumption and emission figures at the end of the Annual Repor t PHOTOS : Sebastian Steudtner, Benjamin Pichelmann

  • Page 120
    ... of the Atlantic, the sports car and the motorcycle are entirely in their element. Powerful and faster than a wave, they hurtle towards each other from opposite directions. The dynamism, power and an absolute sense of freedom on two and four wheels come together majestically somewhere between Nazar...

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    The Monster and the wave PHOTOS : Benjamin Pichelmann, Sebastian Steudtner

  • Page 122
    ... sufficient scope to set your own rules. Sport mode is the setting of choice for the rider. Here the full power is transferred to the rear wheel, resulting in instantaneous acceleration. And unlike with surfing, you have braking fully under control at the right point in time. "You don't conquer the...

  • Page 123
    PHOTOS : Benjamin Pichelmann

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  • Page 125
    ... level in a ï¬,ash. The only problem with the Huracán LP 610-4 is that you just don't want to get out. Fortunately though, you can simply get back in at any time, faster than waiting for that next perfect wave. PHOTOS : Benjamin Pichelmann, Sebastian Steudtner modes the engine revs up emotively...

  • Page 126
    Storm warning

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    ..., the perfect car for city trips. Compact. Agile. Eye-catching. Connected. Our assignment for the three bloggers was to show their city exactly as they experienced it. And in doing so, to not only visit the famous sites but also to take an individual look at their metropolis in order to paint...

  • Page 128
    ...Schwaff studied journalism. As a former press spokesperson for various airlines, she is a true travel expert. Her German blog ichweisswo....traveler who also happens to have a passion for cars. Plus, she has been an Audi fan since she traveled the Alps in the very first Ur-quattro during the 2013 Audi...

  • Page 129
    ... is indeed still there. Time to go shopping ! city tour. It is amazingly easy thanks to the travel information that's integrated into my optional Audi connect system. Who needs a guidebook anymore ? And The good thing about Prague is that there are lots of shopping centers where you can buy famous...

  • Page 130
    ... together the meal I want in small portion sizes. With the body nourished, it is time for food for the soul : I look through the current photo exhibits at the Foam Museum. Right around the corner I discover Van Ravenstein, a stylish shop full of Benelux designer clothing. I'm in luck : Saturday is...

  • Page 131
    ... garage and, with its help, or rather that of the optional Audi connect system, an additional SIM card and a pre-booked Travelpass, to treat myself to a tour of downtown. Then it's time to head back to the car quickly and off I go again. I don't get through completely without traffic jams. In...

  • Page 132
    ... get used to on the first few kilometers was the manual six-gear transmission, which forced me to take my hand off the steering wheel while speeding around bends and country roads. Essential for every road trip : online playlists ! And I was able to access them easily. Car Connectivity Award Audi...

  • Page 133
    Various Projects by RO/LU - Patrick Parrish Gallery, New York Miami T w i c e. TEXT : Berthold Dörrich PHOTOS : Christoph Morlinghaus, AUDI AG 18

  • Page 134
    ... other premium automakers are endowed with a long-standing design tradition, but Audi began defining its own original design sensibility only 25 years ago," he says. And that meant much more than just experimenting with form and recognizing that good design excites the customer. "Audi always took...

  • Page 135
    ... a single element : the Singleframe grille. A simple idea, really, but a giant step for Audi, one that earned the respect of all designers." With good reason - it gave Audi a face of its own for the first time, and a successful one at that. "That's where there is a big risk of just continuing to...

  • Page 136
    ...." The chief designer's vision for Audi is just the opposite. it the visualization of the quattro idea : "So inspiring !" An effect you also can't miss when viewing the car from above - admittedly, an unusual perspective. "The striking emphasis on the wheels, between them the door area, narrower...

  • Page 137
    .... In the prologue, Audi connect also means the driver and front passenger can transfer data back and forth between their displays, sharing information. "It will certainly be a few years before that makes its way into series production," Lichte says. "What we're showing in the center console, however...

  • Page 138
    W E C R E AT E P A S S I O N > > 18 138 > > 139

  • Page 139
    ... investment property as per the Cash Flow Statement 3) Ratio of investments in property, plant and equipment/intangible assets (excluding capitalized development costs) to revenue 2015 Financial Calendar Quarterly Report, 1st quarter 2015 // May 4, 2015 Annual General Meeting // May 22, 2015, Audi...

  • Page 140
    ... RO U P FOR THE FISC AL YE AR FRO M J A N UA RY 1 T O D EC E M B E R 31, 2014 The fuel consumption and emission figures for the vehicles mentioned in the Combined Management Report of the Audi Group and AUDI AG are listed starting on page 285. All figures are rounded off, which may lead to minor...

  • Page 141
    ..., 2014 BASIS OF THE AUDI GROUP // 142 Structure // 142 Strategy // 144 Management system // 151 Shares // 152 Disclosures required under takeover law // 153 ECONOMIC REPORT // 155 Business and underlying situation // 155 Research and development // 157 Procurement // 163 Production // 164 Deliveries...

  • Page 142
    ...Ducati. STRUCTURE / COMPANY The parent company of the Audi Group is AUDI AG, which is one of the world's leading manufacturers of premium automobiles under the Audi brand. Its business activities mainly encompass the development, production and sale of cars, along with the task of managing the Audi...

  • Page 143
    ... OF THE AUDI GROUP STRUCTURE / MAIN GROUP LOCATIONS As well as Technical Development, Sales, Procurement and Administration, the Group headquarters in Ingolstadt are home to a large share of the manufacturing operations. The Audi A3, A3 Sportback, RS 3 Sportback and the models of the A4 family as...

  • Page 144
    ...), AUDI HUNGARIA MOTOR Kft. develops and manufactures engines for AUDI AG, other Volkswagen Group companies and third-party companies. It is also responsible for building models of the TT car line. In addition, the Audi A3 Sedan and A3 Cabriolet have been built in GyƉr since 2013. AUDI BRUSSELS...

  • Page 145
    ... financial strength Top image position and customer mix Attractive employer worldwide Continuous growth Leaders in innovation Sustainability of products and processes / MISSION: "WE DELIGHT CUSTOMERS WORLDWIDE" Customer delight remains at the heart of our Strategy 2020. Our brand essence...

  • Page 146
    ... into the car's operating system, under the name Google Android Auto. The functions of iOS devices will also be available in the vehicle via Apple CarPlay. The Audi Multi Media Interface (MMI) of the future will thus integrate key functions of both smartphone platforms. The new Audi Q7 is already...

  • Page 147
    ...Sustainability Code last year. The next full sustainability report will be published in time for the Annual General Meeting of AUDI AG in May 2015. In September 2014, the Board of Management of AUDI AG defined the term "ultra" as a leitmotif of pioneering sustainability issues. The "ultra" badge has...

  • Page 148
    ... dealer and service network in important growth markets so as to establish broad and solid foundations for our business model. At the same time, we are expanding our worldwide production structures. Detailed information on the "Financial performance" and "Financial position" of the Audi Group...

  • Page 149
    BASIS OF THE AUDI GROUP STRATEGY // TOP IMAGE POSITION AND CUSTOMER MIX A strong brand and a positive image are key success factors for a premium car manufacturer. It is vitally important to have a corresponding customer mix - for example in terms of average age, values and price acceptance - in ...

  • Page 150
    ..., issue 18/2014, p. 70-76, and Research and development activities reached a total of EUR 4,316 (3,966) million in the past fiscal year. This represents 8.0 (8.0) percent of revenue. issue 49/2014, p. 82-85). In Hungary, AUDI HUNGARIA MOTOR Kft., GyƉr, was voted the country's most attractive...

  • Page 151
    ...term sales plan, which highlights market and segment trends. > The individual locations are allocated on the basis of the capacity and utilization plan. / MANAGEMENT PROCESS IN THE AUDI GROUP The Audi Group is incorporated as an integral part of the Volkswagen Group's management process. Management...

  • Page 152
    ... demand for our products has a major impact on the development of unit sales and production, and thus on the capacity utilization of our locations. Revenue is a financial key performance indicator of the Audi Group and the financial reflection of our market success. Operating profit is the balance...

  • Page 153
    .... On the final trading day of 2014, Audi shares closed at EUR 648, the same level as at the start of the year. / PROFIT TRANSFER AND COMPENSATORY PAYMENT TO SHAREHOLDERS Volkswagen AG, Wolfsburg, holds around 99.55 percent of the share capital of AUDI AG. A control and profit transfer agreement is...

  • Page 154
    ... held in Volkswagen AG, please refer to the Management Report of Volkswagen AG. / COMPOSITION OF THE SUPERVISORY BOARD The Supervisory Board comprises 20 members. Half of them are shareholder representatives elected by the Annual General Meeting. The other half of the Supervisory Board are employee...

  • Page 155
    ... REPORT BUSINESS AND UNDERLYING SITUATION ECONOMIC REPORT In a challenging market environment, the Audi Group was again able to maintain its course of growth in 2014, increasing deliveries of the core brand Audi by 10.5 percent to the new record total of 1,741,129 cars. This led to new sales...

  • Page 156
    ...showed a positive development thanks to higher demand from business customers, with growth of 2.9 percent taking the sales volume to 3.0 (3.0) million passenger cars. While most Central European passenger car markets enjoyed rising sales figures, demand for cars in Eastern Europe was down mainly due...

  • Page 157
    ... Quarter Report 2014 to a moderate rise in revenue 2) Net cash flow after changes in participations; net cash flow before changes in participations: EUR 3,162 (3,225) million RESEARCH AND DEVELOPMENT The Research and Development area is of key importance for the long-term success of a premium car...

  • Page 158
    ...at the 24 Hours of Le Mans. // AWARDS FOR AUDI ENGINES In 2014, the 2.5 TFSI engine was voted "International Engine of the Year" in its category for the fifth year in succession. The engine was rated by an international panel of experts comprising 82 motoring journalists from 34 countries. The five...

  • Page 159
    ..., the Audi phone box, was also showcased at the Consumer Electronics Show (CES) in Las Vegas in 2014 and 2015. It paves the way for such applications as wireless in-vehicle charging of mobile devices, for example in the new Audi Q7. The result will be to make the in-car use of smartphones even more...

  • Page 160
    ... new Audi A3 models and now also available in the current Audi TT, A6 and A7 and the new Q7 - the driver can access various Internet services from Audi connect from inside their vehicle in real time. Depending on network availability, they can use Google Earthâ„¢, Google Street Viewâ„¢, Online Media...

  • Page 161
    .... In addition, some controls use a new-style flexible OLED (organic light emitting diode) display, which permits extremely sharp, highcontrast images. / DESIGN The fact that design is quoted as the main reason why customers choose the car they do makes it a key success factor for Audi. We therefore...

  • Page 162
    ... rear lights help to avoid accidents. The Audi TT 2.0 TFSI and TTS models also come with the Audi active lane assist function - a technology that informs drivers as soon as they change lanes without indicating and, depending on its settings, guides the vehicle back. Audi is also working intensively...

  • Page 163
    ...such as quality, logistics and tools. By the time production starts there, we will have qualified around 160 suppliers for our Mexico project. This task calls for close collaboration between a large number of Audi areas, from Planning, Development and Procurement to Production, Logistics and Quality...

  • Page 164
    ...) and Martorell (Spain) locations supplied parts and components for the assembly of a total of 11,300 (8,864) cars at the plant in Aurangabad (India). AUDI HUNGARIA MOTOR Kft. produced a total of 135,232 (42,851) cars of the TT model line and A3 family in GyƉr (Hungary) in 2014. Between January and...

  • Page 165
    ..., Multistrada and Superbike model lines were built on behalf of the Ducati Group. The Audi Group produced 1,974,846 (1,926,724) engines for cars from January through December 2014. Of this total, AUDI HUNGARIA MOTOR Kft. manufactured 1,973,734 (1,925,636) units at the plant in GyƉr (Hungary...

  • Page 166
    ...and assembly facilities must be installed and set up in the body shop to the north of the plant site. The main Group location in Ingolstadt is also starting to prepare for the production start of the new Audi Q1, which will be built there from 2016. After a construction phase of around two years, we...

  • Page 167
    ...,007 // AUDI BRAND The Audi brand delivered a total of 1,741,129 (1,575,480) cars to customers worldwide in 2014 and achieved a new deliveries record thanks to growth of 10.5 percent. In the domestic market in Germany, a total of 255,582 (250,025) customers chose a model with the Four Rings in the...

  • Page 168
    ... all-wheel drive and a powerful 2.0 TFSI engine developing 170 kW (231 hp). In total, 116,646 (122,944) vehicles of the A1 car line were delivered to customers in the past fiscal year. /// AUDI TT The Company gradually rolled out the new Audi TT Coupé in markets during summer 2014. Notable...

  • Page 169
    ... even wider and includes the new connect services of Online Media Streaming and map update online. A total of 303,591 (288,157) models of the popular A6 car line were delivered to customers. /// AUDI A4 The models of our A4 car line are noted for their balanced, sporty character blended with a high...

  • Page 170
    ... car line were delivered to customers in the period under review. // OTHER VOLKSWAGEN GROUP BRANDS In the 2014 fiscal year, a total of 189,858 (173,406) vehicles of other Volkswagen Group brands were delivered to customers via the sales companies VOLKSWAGEN GROUP ITALIA S.P.A., Verona (Italy), Audi...

  • Page 171
    ...brand Audi. The main revenue driver was the new A3 car line, especially after the gradual market introduction of the A3 Sedan. Sustained high demand for our SUV models also impacted revenue performance positively. Revenue from the sale of vehicles of the Lamborghini brand saw a year-on-year increase...

  • Page 172
    ...Our Company's high profitability is also reflected in how the key return ratios developed. For example, despite its high upfront expenditures for new products and innovative technologies as well as for the expansion of the international production network, the Audi Group achieved an operating return...

  • Page 173
    ... Non-current assets: Intangible assets Property, plant and equipment Equity-accounted investments Other non-current assets Current assets: Inventories Other current assets Cash funds Equity Non-current liabilities Current liabilities The 2014 fiscal year saw the Audi Group's balance sheet total...

  • Page 174
    ... attributable to operating activities 2014 2013 Condensed cash flow statement of the Audi Group 7,421 - 4,450 6,778 - 3,589 of which investments in property, plant and equipment of which development costs of which acquisition and sale of participations Net cash flow Change in investments in...

  • Page 175
    ...the main revenue driver in the past fiscal year. High demand for our SUV models, in particular the Audi Q5, also had a positive impact on the revenue performance of AUDI AG. Other revenue increased in the 2014 fiscal year, mainly as a result of higher deliveries of parts sets for local production in...

  • Page 176
    ... // FINANCIAL POSITION // PRODUCTION NET WORTH The balance sheet total of AUDI AG grew by 11.5 percent to EUR 31,031 (27,821) million in the 2014 fiscal year. Fixed assets of EUR 10,628 (9,703) million showed an increase on the previous year as a result of capital investments in property, plant and...

  • Page 177
    ... home market Germany. Deliveries to international customers rose to 1,485,547 (1,325,455) cars. EMPLOYEES Workforce Average for the year Ingolstadt plant Neckarsulm plant Employees Apprentices Workforce 2014 37,286 14,846 52,132 2,279 54,411 2013 35,097 14,142 49,239 2,265 51,504 Overall, AUDI AG...

  • Page 178
    ... stored in the natural gas grid. Audi A3 Sportback g-tron customers can purchase Audi e-gas using a special fuel card and thus achieve virtually CO2-neutral driving when running their CNG vehicle. Only as much CO2 as was previously captured in the production process for the gas is released back into...

  • Page 179
    ... the production of the synthetic fuels Audi e-diesel and Audi e-ethanol with the help of microorganisms. market in Germany at the start of 2014. The five-door premium compact car can run on natural gas, conventional fuel or the climate-friendly Audi e-gas, which is produced at our Audi e-gas plant...

  • Page 180
    ... of e-gas powered Audi A3 TCNG in the Michelin Challenge Bibendum > Launch of start-stop system and driver information system with efficiency program > Launch of Audi valvelift system (AVS) > Launch of TFSI technology > Launch of Audi S tronic > Launch of FSI technology > Volume-produced car with...

  • Page 181
    ... Gear-change indicator Driver information system with efficiency program Audi adaptive cruise control with stop&go function Audi drive select with "efficiency" mode Adaptive LED technology Predictive efficiency assistant (PEA) Ancillaries > Electromechanical steering > Demand-controlled heating...

  • Page 182
    ... (year-end position) 1) 2011 210 2012 2013 2014 180 150 120 90 60 30 Number of Audi models © 140g CO2/km Number of Audi models © 120g CO2/km Number of Audi models © 100g CO2/km 102 32 5 104 36 6 150 63 11 205 94 15 1) All data apply to features of the German market. LOCATION-BASED...

  • Page 183
    ... as CO2 emissions generated by a vehicle's operation, we also consider raw materials extraction, the production of component parts and their assembly, the energy consumption of the production facilities, and recycling. In this connection, the Audi Group's corporate carbon footprint was certified in...

  • Page 184
    ... and Bologna (since 2013) plants; production figures excluding parts sets 2) Cars and motorcycles (since 2013) 3) 2014 figures provisional; energy consumption: total electrical energy, heat, fuel gases for production processes and externally supplied refrigeration In recent years we have been able...

  • Page 185
    ... is part of AUDI AG's commitment to environmental issues. The foundation supports projects designed to protect the natural livelihood of humans, animals and plants, and promotes scientific research in this context. The aim of the foundation is to create an optimum framework for the development of...

  • Page 186
    ... with the previous year is attributable especially to a higher personnel total at AUDI AG, the expansion of the AUDI HUNGARIA MOTOR Kft. plant in GyƉr (Hungary) and the building of the plant in Mexico. Employee structural data (AUDI AG) 2014 Average age 1) Average length of service Proportion of...

  • Page 187
    ... and electric mobility at the Ingolstadt and Neckarsulm sites. In addition, 883 new employees supported the construction of the new plant in Mexico and 1,658 the plant expansion in Hungary. AUDI HUNGARIA MOTOR Kft., GyƉr (Hungary), was voted Hungary's most attractive employer for the sixth year in...

  • Page 188
    ...is run jointly by Audi and Volkswagen. Some 7,500 university graduates have already applied to take part since it started over two years ago. other Group companies. For example, 16 apprentices from four international Group locations came to work at Audi in Ingolstadt. The successful German model of...

  • Page 189
    ... important task to help its employees achieve a balance between work and family life. Audi gives parents additional flexibility at work by offering a wide range of flexible worktime models as well as various child care arrangements under the "Audi Spielraum" program. In the 2014 fiscal year, a total...

  • Page 190
    ... in the Ingolstadt and Neckarsulm regions. The Ingolstadt special-profile school opened at the start of the current school year. Together with the State of Bavaria, the city of Ingolstadt and the Roland Berger Foundation, Audi is supporting this model project that is unique in Germany. Under the...

  • Page 191
    ... of the Audi Group's business development will be the expansion of international production structures and high upfront expenditures for new models and technologies. Audi is paving the way for future growth through the biggest investment program in the history of the Company to date. REPORT ON...

  • Page 192
    ...and rising demand for mobility. In Japan, we expect to see a fall in demand for cars. // ANTICIPATED DEVELOPMENT OF DELIVERIES In 2014, the Audi Group delivered more than 1.7 million cars of the Audi brand to customers worldwide. The Company also established new sales records in over 50 markets. We...

  • Page 193
    ... the Audi Group's market position through a forward-looking model, technology and brand strategy. Overall, the Company plans to invest a total of more than EUR 24 billion from 2015 through 2019 in the biggest investment program in its history. Investments in property, plant and equipment...

  • Page 194
    ...the corporate guidelines and corporate culture. In our understanding, the objective is the value-oriented, sustained development of our Company. As an automotive group with operations worldwide in a dynamic environment, we are continually confronted with a wide variety of opportunities and risks. In...

  • Page 195
    ... the efficient use of resources. // INTEGRATED INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM FOR THE FINANCIAL REPORTING PROCESS The financial reporting section of the Internal Control and Risk Management System that is relevant for the financial statements of AUDI AG and the Audi Group contains...

  • Page 196
    ... Financial reporting processes are mapped on the basis of the Group-wide Volkswagen consolidation and corporate management system (VoKUs). Furthermore, continuous information sharing is maintained with Volkswagen Group Accounting. VoKUs contains both historical data from Accounting and planning data...

  • Page 197
    ...All Group companies are obliged to inform the Board of Management of AUDI AG and the central GRC organization of such developments by means of ad hoc announcements. Priority is given to defining preventive measures for limiting losses, communicating the updated risk situation to the corporate bodies...

  • Page 198
    ... unit sales, price enforcement and plant utilization, for example. Thanks to our worldwide distribution network, we are in a position to make up elsewhere for market weakness in individual countries. Nevertheless, adverse developments in individual sales regions may affect our volume programs and...

  • Page 199
    ... and changes in customer expectations at short notice, with corresponding consequences for the financial targets. The growing product range also influences this risk. The product definition and product positioning in the market may also lead to unscheduled developments. The Audi Group follows...

  • Page 200
    ... locations, reduces the risk further. The Audi Group uses its worldwide network of suppliers and service providers in the development and production of its vehicles. To ensure our high quality standards, we have put in place a comprehensive quality assurance organization covering the entire value...

  • Page 201
    ... while in use. // INFORMATION AND IT OPPORTUNITIES Innovativeness and efficient processes are major success factors for Audi. The progressive digitization of the relationship between customer, dealer and manufacturer offers an array of opportunities to improve our products and services, and develop...

  • Page 202
    ...The Ducati Group competes with a large number of motorcycle manufacturers. Especially in traditional markets, the benchmark for competing is demanding. To secure its planned market shares, Ducati is enhancing the appeal of the brand and its products, and strengthening its relationship with customers...

  • Page 203
    ... our sales markets worldwide and capitalize on potential for market growth. The Audi brand plays an important role within the Volkswagen Group and itself exploits the synergies available to it in order to strengthen its own competitiveness. These synergies are not limited to its production network...

  • Page 204
    ... Gazette. The Board of Management and Supervisory Board of AUDI AG also discussed at length the recommendations and suggestions in the Code during the past fiscal year and passed the appropriate resolutions. There is no age limit applicable to members of the Company's corporate bodies (Section...

  • Page 205
    ...to the members of the Supervisory Board contain a performance-related component that is geared towards the long-term development of the Company. The response to the suggestions made in the Code is as follows: AUDI AG fulfills all of the suggestions made in the Code. / STOCK OPTION PLANS AND SIMILAR...

  • Page 206
    .... The compliance program is an essential tool for the creation of a uniform starting point for all compliance activities throughout the Audi Group. AUDI AG is connected to the Volkswagen Group's global anticorruption system. This system is designed to prevent corruption in the Company and reveal any...

  • Page 207
    ... communications. For this reason, all key publication dates as well as the date of the Annual General Meeting of AUDI AG are listed in our financial calendar. This is published in the Company's Annual Report and is also available for public consultation at any time on our website at www.audi...

  • Page 208
    ... in kind and fringe benefits, the provision of a company car and payment of insurance premiums. Taxes applicable to benefits in kind are paid by AUDI AG The 121st Annual General Meeting of AUDI AG, held on May 20, 2010, approved the system of remuneration for members of the Board of Management with...

  • Page 209
    ...reward positive performance of the Audi Group. Basically, the level of the bonus is based on the results achieved, on the Company's economic situation and on the personal performance of the individual member of the Board of Management. The operating profit, in the form of a two-year average, is used...

  • Page 210
    ... paid to the Supervisory Board of AUDI AG, TERMINATION OF ACTIVITY If the activity is ended with good cause for which the member of the Board of Management is not responsible, entitlement to payment of a settlement shall be limited to a maximum of two years' annual remuneration (settlement cap). No...

  • Page 211
    ... Development Mandate: ƒ TÜV SÜD AG, Munich Production Mandate:  VOLKSWAGEN FAW Engine (Dalian) Co., Ltd., Dalian, China In connection with their duties of Group steering and governance within the Audi Group, the members of the Board of Management hold further supervisory board seats at Group...

  • Page 212
    ... (42) Chairman of the General Works Council of AUDI AG Mandates: ƒ Audi Pensionskasse - Altersversorgung der AUTO UNION GmbH, VVaG, Ingolstadt ƒ Porsche Automobil Holding SE, Stuttgart ƒ Volkswagen AG, Wolfsburg Member of the Board of Management of Volkswagen AG, Wolfsburg Hon.-Prof. Dr. techn...

  • Page 213
    ...of the Works Council of AUDI AG, Ingolstadt plant Mandate: ƒ Audi BKK, Ingolstadt Sibylle Wankel (50) IG Metall trade union, Bavarian regional headquarters, Munich Mandates: ƒ Siemens AG, Munich ƒ Vaillant GmbH, Remscheid Member of the Board of Management of Volkswagen AG, Member of the Board of...

  • Page 214
    ... DISCLAIMER The Management Report contains forward-looking statements relating to anticipated developments. These statements are based upon current assessments and are by their very nature subject to risks and uncertainties. Actual outcomes may differ from those predicted in these statements. 214...

  • Page 215
    ... 217 BALANCE SHEET OF THE AUDI GROUP // 218 CASH FLOW STATEMENT OF THE AUDI GROUP // 219 STATEMENT OF CHANGES IN EQUITY OF THE AUDI GROUP // 220 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS // 222 Development of fixed assets in the 2014 fiscal year // 222 Development of fixed assets in the 2013...

  • Page 216
    ... THE AUDI GROUP EUR million Notes 2014 2013 Revenue Cost of goods sold Gross profit Distribution costs Administrative expenses Other operating income Other operating expenses Operating profit Result from investments accounted for using the equity method Finance expenses Other financial results...

  • Page 217
    ... comprehensive income Fair value changes transferred to profit or loss Available-for-sale financial assets before tax Deferred taxes on available-for-sale financial assets Available-for-sale financial assets after tax Share of other comprehensive income of equity-accounted investments that will be...

  • Page 218
    BALANCE SHEET OF THE AUDI GROUP BALANCE SHEET OF THE AUDI GROUP ASSETS in EUR million Notes Dec. 31, 2014 Dec. 31, 2013 Intangible assets Property, plant and equipment Investment property Investments accounted for using the equity method Other participations Deferred tax assets Other financial...

  • Page 219
    ...CASH FLOW STATEMENT OF THE AUDI GROUP EUR million 2014 2013 Profit before profit transfer and income taxes Income tax payments Amortization of and impairment losses (reversals) on capitalized development costs Depreciation and amortization of and impairment losses (reversals) on property, plant...

  • Page 220
    ... CHANGES IN EQUITY OF THE AUDI GROUP EUR million Subscribed capital Capital reserve Position as of Jan. 1, 2013 Profit after tax Other comprehensive income after tax Total comprehensive income Capital increase Profit transfer to Volkswagen AG Position as of Dec. 31, 2013 Position as of Jan. 1, 2014...

  • Page 221
    ... reserves Reserve for cash flow hedges Reserve for fair value measurement of securities 19 - -7 -7 - - 12 12 - 21 21 - - - 32 Investments accounted for using the equity method 33 - - 32 - 32 - - 0 0 - 87 87 - - - 87 AUDI AG shareholders' interest Equity Non-controlling interests Total 9,477 3,961...

  • Page 222
    ... Capitalized development costs, products currently under development Capitalized development costs, products currently in use Payments on account for intangible assets Intangible assets Land, land rights and buildings, including buildings on third-party land and leased land and buildings Plant...

  • Page 223
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS DEVELOPMENT OF FIXED ASSETS IN THE 2014 FISCAL YEAR Adjustments Cumulative depreciation and amortization Changes in scope of consolidated companies Currency changes Additions Impairment losses Transfers Disposals Reversal of impairment losses Cumulative...

  • Page 224
    ...Additions Changes from investments accounted for using the equity method Transfers Disposals Costs Jan. 1, 2013 Concessions, industrial property rights and similar rights and assets, as well as licenses thereto Brand names Goodwill Capitalized development costs, products currently under development...

  • Page 225
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS DEVELOPMENT OF FIXED ASSETS IN THE 2013 FISCAL YEAR Adjustments Cumulative depreciation and amortization Changes in scope of consolidated companies Currency changes Additions Impairment losses Transfers Disposals Reversal of impairment losses Cumulative...

  • Page 226
    ...a control and profit transfer agreement exists. 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 motor...

  • Page 227
    ... Plants Employee Benefits: Defined Benefit Plans - Contributions from Employees Separate Financial Statements: Equity Method Improvements to International Financial Reporting Standards 2012 2) Improvements to International Financial Reporting Standards 2013 3) Improvements to International Financial...

  • Page 228
    ... AUDI GROUP Total AUDI AG and fully consolidated subsidiaries/structured entities 2014 44 2013 41 of which in Germany of which in foreign countries Non-consolidated subsidiaries 10 34 34 8 33 34 of which in Germany of which in foreign countries Investments accounted for using the equity method...

  • Page 229
    ... company's management and supervisory board, AUDI AG is in a position to exercise significant influence. AUDI AG also indirectly holds 30 percent of Volkswagen Group Services S.A./N.V., Brussels (Belgium). This is a finance company used by Audi for factoring transactions. During the past fiscal year...

  • Page 230
    ... rates used in the Balance Sheet and Income Statement are recognized in equity, without affecting profit or loss, until the disposal of the subsidiary. // DEVELOPMENT OF THE EXCHANGE RATES SERVING AS THE BASIS FOR CURRENCY TRANSLATION 1 EUR in foreign currency Year-end exchange rate Dec. 31, 2014...

  • Page 231
    ... must be capitalized, including pro rata depreciation. No inter- the discounted cash flow method are also to be stated. / INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD Companies in which AUDI AG is directly or indirectly able to exercise significant influence on financial and operating policy...

  • Page 232
    ... segment 2014 6.1 7.1 2013 6.6 8.1 > loans and receivables, > held-to-maturity investments, > financial assets measured at fair value through profit or loss. The Audi Group does not have any financial assets that fall into The cost of capital is calculated on the basis of an interest rate for...

  • Page 233
    ... value is determined using investment mathematics methods, for example by discounting future cash flows at the market rate or applying established option pricing models. Financial instruments are abandoned if the rights to payments from the investment have expired or been transferred and the Audi...

  • Page 234
    ...that fall into this category are reported at 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 reserve...

  • Page 235
    ... from used car marketing, updated internal and external information is incorporated into the measurement on an ongoing basis. / SECURITIES, CASH AND CASH EQUIVALENTS Securities held as current assets are measured at market value, i.e. at the trading price on the balance sheet date. Cash and cash...

  • Page 236
    ... with no effect on profit or loss. / LIABILITIES Non-current liabilities are reported in the Balance Sheet at amortized cost. Any differences between the historical costs of purchase and the repayment value are taken into account using the effective interest method. Liabilities from finance leases...

  • Page 237
    ... of investments accounted for using the equity method or at the cost of purchase requires that assumptions be made with regard to future cash flows during the planning period and, where applicable, with regard to the discounting rate to be applied. Any impairment of the Audi Group's leased assets is...

  • Page 238
    ... brands in the Volkswagen Group. Revenue from other automotive business primarily includes the supply of parts sets to China, as well as the proceeds from the sale of engines and genuine parts. manufacturing purposes. During the 2014 fiscal year, impairment losses on property, plant and equipment...

  • Page 239
    ... exchange options and the settlement of currency hedging instruments. The total position in relation to hedging transactions is presented under Note 36.5, "Methods of monitoring the effectiveness of hedging relationships." 7 / RESULT FROM INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD The...

  • Page 240
    ... participations mainly comprises a share in the profits of Volkswagen Logistics GmbH & Co. OHG, Wolfsburg. It also includes write-downs on participations. The income and expense from the fair value measurement of derivative financial instruments encompass the ineffective portions of cash flow hedges...

  • Page 241
    ...RECOGNITION AND MEASUREMENT DIFFERENCES RELATING TO INDIVIDUAL BALANCE SHEET ITEMS AND ON TAX LOSS CARRYFORWARDS EUR million Deferred tax assets Dec. 31, 2014 Intangible assets Property, plant and equipment Long-term financial investments Inventories Receivables and other assets Other current assets...

  • Page 242
    ...year figures were adjusted to take account of the changes to reporting of tax effects from loss carryforwards and tax credits. 11 / PROFIT TRANSFER TO VOLKSWAGEN AG The amount of EUR 3,239 (3,182) million will be transferred to Volkswagen AG, Wolfsburg, under the profit transfer agreement with AUDI...

  • Page 243
    ... Volkswagen Group Services S.A./N.V., Brussels (Belgium), and to subsidiaries of Volkswagen AG, Wolfsburg, that are not part of the Audi Group. 13.4 / IMPAIRMENT LOSSES FOR FINANCIAL ASSETS BY CATEGORY EUR million Measured at fair value Measured at amortized cost Impairment losses 2014 - 16 16 2013...

  • Page 244
    ... the 2014 fiscal year, a total of EUR 4,316 (3,966) million was spent on research and development. Of this total, EUR 1,311 (1,207) million was capitalized. The capitalization rate is 30.4 (30.4) percent. 15 / PROPERTY, PLANT AND EQUIPMENT EUR million Land, land rights and buildings, including...

  • Page 245
    ...cancelable operate leases 2015 7 2016 to 2019 27 from 2020 19 Total 53 17 / INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD Financial information on the material associated companies can be found in the following tables. The figures reflect the full values of the (converted) financial statements...

  • Page 246
    ... FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET // NOTES TO THE BALANCE SHEET EUR million FAW-Volkswagen Automotive Company, Ltd. Volkswagen Group Services S.A./N.V. Volkswagen Automatic Transmission (Tianjin) Company Limited Dec. 31, 2014 632 199 292 262 277 Dec. 31, 2014 Non-current assets...

  • Page 247
    ... assets Non-current other financial assets Dec. 31, 2014 302 261 26 590 Dec. 31, 2013 700 243 26 969 The non-current fixed deposits and loans extended accrue interest at interest rates of up to 4.5 (4.5) percent. Derivative financial instruments are measured at market value. The total position...

  • Page 248
    ... CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 20.2 / CURRENT OTHER RECEIVABLES EUR million Tax claims Miscellaneous receivables Current other receivables Dec. 31, 2014 412 198 610 Dec. 31, 2013 276 204 479 21 / INVENTORIES EUR million Raw materials and supplies Work and services in...

  • Page 249
    ...- 119 2013 828 14 -5 9 9 - 6 21 Revenue Profit after tax 1) Other comprehensive income after tax Total comprehensive income Share of total comprehensive income of non-controlling interests Dividends paid to other non-controlling interests Cash flow from operating activities Cash flow from investing...

  • Page 250
    ... Non-current other financial liabilities Dec. 31, 2014 739 1 741 Dec. 31, 2013 194 2 196 The derivative currency hedging instruments reported under other financial liabilities are measured at market values. The total item of currency hedging instruments is presented under Note 36, "Management of...

  • Page 251
    ... FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 28.2 / CURRENT OTHER FINANCIAL LIABILITIES EUR million Negative fair values from derivative financial instruments Liabilities from the transfer of profit Miscellaneous financial liabilities Current other financial liabilities Dec. 31, 2014...

  • Page 252
    ... Volkswagen Pension Trust e.V. and invested in the capital market. If the plan assets are higher than the present value of the obligations calculated using the guaranteed interest rate, a surplus is allocated (surplus components). The pension fund model is classed as a defined benefit plan pursuant...

  • Page 253
    ... STATEMENTS NOTES TO THE BALANCE SHEET 30.2 / PRESENT VALUE OF DEFINED BENEFIT OBLIGATIONS EUR million Present value on Jan. 1 Service costs Interest expense Actuarial gains (-)/losses (+) following changes in demographic assumptions Actuarial gains (-)/losses (+) following changes in financial...

  • Page 254
    ... CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 30.4 / ALLOCATION OF THE PRESENT VALUE OF DEFINED BENEFIT OBLIGATION AMONG THE PLAN MEMBERS EUR million Active beneficiary employees Former beneficiary employees Pensioners Present value on Dec. 31 2014 3,877 159 1,705 5,741 2013 2,663...

  • Page 255
    ... the general market risk, the plan assets of Volkswagen Pension Trust e.V., Wolfsburg, are mainly exposed to interest rate and share price risks, as they are primarily invested in investment funds comprising fixed-income securities and shares. To cushion the market risk, the benefit system provides...

  • Page 256
    ... CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 30.8 / AMOUNTS RECOGNIZED THROUGH PROFIT OR LOSS FROM BENEFIT OBLIGATIONS EUR million Service costs Net interest expense (+) and income (-) Past service costs (incl. plan curtailment) Balance of amounts from defined benefit obligations...

  • Page 257
    ... of tax liabilities to Volkswagen AG, Wolfsburg, under allocation plans. 32 / OTHER PROVISIONS EUR million Dec. 31, 2014 Total Of which due within one year 2,314 249 790 3,353 Dec. 31, 2013 Total Of which due within one year 2,279 367 714 3,360 Obligations from sales operations Workforce-related...

  • Page 258
    ... 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 259
    ... ON FINANCIAL prices, which can be observed on the corresponding markets and are acquired via price service agencies. Within the Audi Group, level 3 mainly covers residual value hedging arrangements with the retail trade. The input factors for measuring the future development of used car prices...

  • Page 260
    ... amount as per Balance Sheet as of Dec. 31, 2014 Measured at fair value through profit or loss Available for sale Loans and receivables Other participations Other financial assets 268 590 - 46 268 - - 287 of which from the positive fair values of derivative financial instruments of which...

  • Page 261
    ...TO THE CONSOLIDATED FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES Classification in measurement levels pursuant to IFRS 7 Financial liabilities measured at amortized cost No category assigned under IAS 39 Measured at fair value Measured at amortized cost Derivative financial instruments with hedging...

  • Page 262
    ... amount as per Balance Sheet as of Dec. 31, 2013 Measured at fair value through profit or loss Available for sale Loans and receivables Other participations Other financial assets 290 969 - 15 290 - - 269 of which from the positive fair values of derivative financial instruments of which...

  • Page 263
    ...TO THE CONSOLIDATED FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES Classification in measurement levels pursuant to IFRS 7 Financial liabilities measured at amortized cost No category assigned under IAS 39 Measured at fair value Measured at amortized cost Derivative financial instruments with hedging...

  • Page 264
    ... the market price of used cars resulting from hedging arrangements are shown in detail under Note 36.4, "Market risks." Opportunities and risks resulting from the fair value fluctuations in derivative financial instruments measured according to level 3 are calculated within the Audi Group by means...

  • Page 265
    ... using a market interest rate that adequately reflects the risks and is based on matched maturities. Within non-current assets and liabilities, there were no significant changes in the ratios between balance sheet value and fair value. For reasons of materiality, the fair value for current balance...

  • Page 266
    ... Volkswagen Group; it exclusively comprises "Receivables owing from customers of high creditworthiness." Within the Audi Group, there are absolutely no past due financial instruments measured at fair value. The fair values of these financial instruments are determined based on their market prices...

  • Page 267
    ... - 32 -1 92 Developments of impairments of claims that existed on the balance sheet date and that were measured at amortized cost can be broken down as shown in the above table for the 2014 and 2013 fiscal years. Portfolio-based impairments are not used within the Audi Group. guarantees and banker...

  • Page 268
    ... the cash receipts also been taken into account, the cash used would have been significantly lower in the maturity analysis. Treasury of Volkswagen AG, Wolfsburg, or coordinated via the Group Treasury of AUDI AG. There were no risk concentrations during the past fiscal year. The market price risks...

  • Page 269
    ... Fund price risks are measured within the Audi Group in accordance with IFRS 7 using sensitivity analyses. Hypothetical changes to risk variables on the balance sheet date are examined to calculate their impact on the prices of the financial instruments in the funds. Stock prices, exchange rates and...

  • Page 270
    ...Hypothetical changes in the market prices of used cars as of the balance sheet date are used to quantify the impact on profit after tax. // QUANTIFYING MARKET RISKS BY MEANS OF SENSITIVITY ANALYSES /// CURRENCY RISKS If the functional currencies had in each case increased or decreased in value by...

  • Page 271
    ... with change in commodity prices Residual value risks of used cars Effects on profit after tax with change in market prices 194 18 42 21 2014 - 10% +10% 2013 - 10% - 30 - 18 - 42 - 194 12 15 30 153 - 13 - 15 - 30 - 153 +100 bps Interest rate change risks Effects on equity with change in market...

  • Page 272
    ... of investments in other participations resulted in an outflow of EUR 156 (5) million. Cash flow from financing activities includes cash used for the transfer of profit, as well as changes in financial liabilities. The changes in the balance sheet items that are presented in the Cash Flow Statement...

  • Page 273
    ... EUR million Cash funds as per Balance Sheet Currently due fixed deposits with an investment period > 3 months Cash and cash equivalents as per Cash Flow Statement (bank assets and cash deposits with maturities of no more than three months) Dec. 31, 2014 11,391 - 7,702 3,689 Dec. 31, 2013 13,332...

  • Page 274
    .... 45 / TOTAL AVERAGE NUMBER OF EMPLOYEES FOR THE YEAR 2014 Domestic companies Foreign companies Employees Apprentices Employees of Audi Group companies Staff employed from other Volkswagen Group companies not belonging to the Audi Group Workforce 53,848 20,619 74,467 2,421 76,888 359 77,247 2013 50...

  • Page 275
    ... 12,123 2014 2013 As of December 31, 2014, sales of receivables to subsidiaries of Volkswagen AG, Wolfsburg, which do not belong to the Audi Group amounted to EUR 3,256 (2,958) million. This also includes sales of receivables to Volkswagen Group Services S.A./N.V., Brussels (Belgium), totaling EUR...

  • Page 276
    ...A list of the supervisory board mandates of members of the Board of Management and Supervisory Board of AUDI AG is presented in the 2014 Annual Financial Report of AUDI AG. The service relationships with the members of the Boards of Management and Supervisory Boards of Volkswagen AG and AUDI AG were...

  • Page 277
    ... of the annual financial statements of the domestic consolidated companies. vehicles of other brands in the Volkswagen Group as well as the accompanying accessories and spare parts business. The activities of the Motorcycles segment include the development, production, assembly and distribution...

  • Page 278
    ... of impairment losses Segment profit (operating profit) Result from investments accounted for using the equity method Net interest and other financial results Investments accounted for using the equity method Investments in property, plant and equipment, investment property and intangible assets 53...

  • Page 279
    ...profit (operating profit) Consolidation Operating profit Financial result Group profit before tax 2014 53,789 -1 53,787 5,150 - 5,150 841 5,991 2013 49,883 -3 49,880 5,030 - 5,030 293 5,323 48.3 / BY REGION EUR million Germany Revenue Property, plant and equipment, intangible assets, and investment...

  • Page 280
    ... are not part of the Audi Group along with two associated companies, has key accounts with whom there exists a relationship of dependence. 48.5 / REVENUE WITH KEY ACCOUNTS 2014 2013 EUR million Volkswagen AG Volkswagen AG subsidiaries not belonging to the Audi Group Two associated companies 4,688...

  • Page 281
    ... details of their seats on other supervisory boards and regulatory bodies - as defined in Section 285, No. 10 of the German Commercial Code (HGB) and Section 125, Para. 1, Sentence 5 of the German Stock Corporation Act (AktG) - are listed in the Notes to the Annual Financial Report of AUDI AG. The...

  • Page 282
    ... accounted for using the equity method Other countries Volkswagen Automatic Transmission (Tianjin) Co., Ltd., Tianjin Volkswagen Group Services S.A., Brussels FAW-Volkswagen Automotive Co., Ltd., Changchun 1) This is a structured entity pursuant to IFRS 10 and IFRS 12 2) AUDI AG exercises control...

  • Page 283
    ... Financial Statements give a true and fair view of the net assets, financial position and results of operations of the Audi Group, and the Combined Management Report of the Audi Group and AUDI AG includes a fair review of the development and performance of the business and the position of the Audi...

  • Page 284
    ..., 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, which is combined with the Company Management Report, for the business year from January 1 to December 31, 2014. The...

  • Page 285
    ...German market.) Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) combined Efficiency class Audi A1 A1 1.0 TFSI ultra A1 1.0 TFSI ultra A1 1.4 TFSI A1 1.4 TFSI A1 1.4 TFSI cylinder on demand A1 1.4 TFSI cylinder on demand A1...

  • Page 286
    ... Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) combined Efficiency class Audi A3 Sportback A3 Sportback 1.2 TFSI A3 Sportback 1.2 TFSI A3 Sportback 1.4 TFSI A3 Sportback 1.4 TFSI A3 Sportback 1.4 TFSI cylinder on demand...

  • Page 287
    FUEL CONSUMPTION AND EMISSION FIGURES Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban... clean diesel quattro S3 Cabriolet 2.0 TFSI quattro Audi Q3 Q3 1.4 TFSI cylinder on demand ultra Q3 1.4 TFSI cylinder on demand Q3 2.0 TFSI quattro Q3 2.0 TFSI quattro ...

  • Page 288
    ... Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) combined Efficiency class Audi A4 Avant A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI A4 Avant 1.8 TFSI quattro A4 Avant 2.0 TFSI A4 Avant 2.0 TFSI A4 Avant 2.0 TFSI quattro A4 Avant...

  • Page 289
    FUEL CONSUMPTION AND EMISSION FIGURES Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined 4.9 5.1 5.1 4.9 5.8 5.7 5.7 7.7 5.7 5.8 5.9 5.8 6.6 6.7 7.5 4.2 4.6 4.7 5.1 5.3 4.5 4.5 4.9 5.0 5.1 4.9 5.8 5.7 5.7 7.7 10.5 6.2 6.2 6.3 6.2 6.9 7.8 4.7 4.7 4.9...

  • Page 290
    FUEL CONSUMPTION AND EMISSION FIGURES Model Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) combined Efficiency class Audi Q5 Q5 2.0 TFSI quattro Q5 2.0 TFSI quattro Q5 2.0 TFSI quattro Q5 3.0 TFSI quattro Q5 2.0 TDI clean ...

  • Page 291
    ... of charge at all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, 73760 Ostfildern-Scharnhausen, Germany. The fuel consumption and CO2 emissions of a vehicle vary due to the choice of wheels and tires. They not only depend on the efficient utilization of fuel...

  • Page 292
    ...of employees of Audi Group companies 6) Not including changes in securities, fixed deposits and loans 7) Taking into account the acquisition of interests in Volkswagen Group Services S.A./N.V., Brussels (Belgium), and in Ducati Motor Holding S.p.A., Bologna (Italy) 8) Year-end price on Munich Stock...

  • Page 293
    ...BALANCE SHEET // 218 CASH FLOW STATEMENT // 219 STATEMENT OF CHANGES IN EQUITY // 220 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS // 222 Development of fixed assets in the 2014 fiscal year // 222 Development of fixed assets in the 2013 fiscal year // 224 General information // 226 Recognition...

  • Page 294
    AUDI AG 85045 Ingolstadt Germany Phone +49 841 89-0 Fax +49 841 89-32524 email [email protected] www.audi.com Financial Communication/ Financial Analysis I/FF-3 Phone +49 841 89-40300 Fax +49 841 89-30900 email [email protected] www.audi.com/investor-relations