Audi 2015 Annual Report Download

Download and view the complete annual report

Please find the complete 2015 Audi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 300

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293
  • 294
  • 295
  • 296
  • 297
  • 298
  • 299
  • 300

Table of contents

  • Page 1

  • Page 2

  • Page 3
    ...ON ONE THING : "VORSPRUNG DURCH TECHNIK" FOR OUR CUSTOMERS. WE HAVE ALWAYS LISTENED VERY CLOSELY TO THEM SO WE CAN UNDERSTAND WHAT THEY WILL WANT TOMORROW. EXPERIENCE AUTOMOTIVE SOLUTIONS FOR THE FUTURE WITH THE AUDI 2015 ANNUAL REPORT. SOLUTIONS THAT SURPRISE, EXCITE AND MOVE PEOPLE. SOLUTIONS THAT...

  • Page 4
    WHICH IDEAS ARE BIG ENOUGH TO SHAPE THE AUTOMOTIVE FUTURE ? VISIONS ARE ALREADY BECOMING SOLUTIONS TODAY. AUDI INNOVATES. Fuel consumption and emission figures at the end of the Annual Report PHOTO : AUDI AG

  • Page 5
    ..., Chairman of the Board of Management of AUDI AG, meets up with Silicon Valley expert Christoph Keese to discuss innovation, disruption and the rapid ascent of digital business models in the Internet age. PAGE > > 016 T H I NK . S H A R E . DA R E ! 02 Audi Innovation Research (AIR) is where...

  • Page 6
    DO WE THINK UNCONVENTIONALLY ENOUGH TO SHAPE TOMORROW'S FUTURE ? WE NEVER STAND STILL AND KEEP ON DEVELOPING. AUDI EVOLVES. Fuel consumption and emission figures at the end of the Annual Report PHOTO : Tobias Sagmeister

  • Page 7
    ...> 064 F I T F OR T H E PR E M I UM L E AG U E . 09 Staying focused on the finishing line, maintaining a high level of performance and getting there ahead of the rest. On the way to series production, Audi Procurement needs strong partners who meet premium standards. PAGE > > 070 S H A NG -H YB...

  • Page 8
    ..., picture galleries or additional information to be discovered. Simply download the recognition app layar, hold your smartphone or tablet over the symbol and dive into the multimedia world with augmented reality. Fuel consumption and emission figures at the end of the Annual Report PHOTO : AUDI AG

  • Page 9
    ...NIG H T. 14 The new Audi R8, the fastest and most powerful seriesproduction Audi ever, makes its way through the night. Thanks also to the latest lighting technology, the journey is safe and an experience for the senses. PAGE > > 100 CATCH M E I F YOU CA N. 15 The Audi Sport TT Cup offers the...

  • Page 10
    ... - drivers. Audi will be offering production for the first time in the upcoming generation 20 the start of production of the Q5. The model initiative for the Audi brand continues to gain momentum. The company plans to introduce more than 20 new or updated models and derivatives into the market...

  • Page 11
    ...is undergoing change - now is the time for something new : new drive systems, new assistance systems, new alliances. Because the connected car requires a connected world, we have formed new partnerships in digital maps and services. And because the intelligent car can only fully develop its enormous...

  • Page 12
    The Board of Management. Dr. Bernd Martens Procurement Axel Strotbek Finance and Organization Dr. Dietmar Voggenreiter Marketing and Sales PHOTO : Uli Weber

  • Page 13
    Prof. Rupert Stadler Chairman of the Board of Management Dr.-Ing. Stefan Knirsch Technical Development Prof. h. c. Thomas Sigi Human Resources Prof. Dr.-Ing. Hubert Waltl Production The Board of Management 01 2 > > 013

  • Page 14
    ... mapping and location services, in the future, cars will be able to recognize road hazards in advance and adjust their driving accordingly. The broad customer base of HERE, which includes a wide range of industries, will also benefit from this. As new shareholders in HERE, AUDI AG, the BMW Group...

  • Page 15
    01 PILOTED DRIVING. VIRTUAL REALITY. SMART FACTORY. OUR INNOVATIONS SHAPE THE AUTOMOTIVE FUTURE.

  • Page 16
    BLUE SK Y THINKING. TEXT : Julian Fritsch PHOTO : Dieter Roosen

  • Page 17
    ... for service. Prof. Rupert Stadler, Chairman of the Board of Management of AUDI AG, and Silicon Valley expert Christoph Keese take a seat in the cockpit. Time to take off on a discussion of innovation, disruption and the rapid ascent of digital business models in the Internet age. innovate. now...

  • Page 18
    PHOTOS : Dieter Roosen

  • Page 19
    ... Audi in 1990, working in Controlling for Marketing and Sales. In 1994 he was appointed Commercial Director of Volkswagen/Audi España S.A. in Barcelona. Rupert Stadler became Head of the Board of Management's Office for Volkswagen AG in 1997, and additionally Head of Group Product Planning starting...

  • Page 20
    ...or communication. The way we relate personally to this new living space offers scope for new business models. Is that really a source of income for Audi ? STADLER : Absolutely, and that's why we have brought the mobility product of Audi shared ï¬,eet onto the market, for example. It gives companies...

  • Page 21
    "All of our mobility services also meet the exceptional standards of a premium brand." Prof. Ruper t Stadler innovate. now! 020 > > 021

  • Page 22
    ... digital mapping and location business HERE. Our goal is to offer HERE industry-wide as an open platform. So we'll also be pressing ahead with the development of piloted driving. Car-to-X communication will make HERE a real-time map that constantly updates itself. The more communicators participate...

  • Page 23
    ... for other opportunities. STADLER : The important thing is to remain agile. Businesses need to develop new ideas. Five years ago we participated in the International Consumer Electronics Show in Las Vegas for the first time and presented our Audi models as mobile devices. Today we are drawing on...

  • Page 24
    ...new ideas to abolish an existing market and then to reinvent it with their product. The manufacturing of physical products no longer plays any role in this world ; the key trait of the market leaders is their expertise in data aggregation. This data is shared between users and providers on platforms...

  • Page 25
    ... it was ready ? No ! Society doesn't know what it's ready for. Innovators need to develop products that fit the times like a key fits a keyhole. And who will be making the smart key for the car of the future, with which car makers can set the pace ? STADLER : We will remain a premium automobile...

  • Page 26
    ... per hour. His driver : Robby, an Audi RS 7 piloted driving concept. "We should stop driving ourselves," he says with a laugh. "Seriously, that was impressive. That needs to become reality. The sooner, the better !" THINK. SHARE. DARE! TEXT : Verena Väth PHOTOS : Anthony Lindsey, AUDI AG

  • Page 27
    // W H A T I S T H E N E W R O L E OF THE DRIVER? THE USER? innovate. now! 026 > > 027

  • Page 28
    ...host : Audi Innovation Research, or AIR for short. No dress code, last names or agendas - this meet-up asks participants things like : "What fascinates you about piloted driving ?", "Where do you see the added value for you personally ?", and "How will piloted driving change the relationship between...

  • Page 29
    // W H A T R O L E W I L L THE HARDWARE PLAY? // H O W W I L L THE USER ENJOY 'DRIVING'? // H O W W I L L THE USER BE CONNECTED TO THE CAR EMOTIONALLY? innovate. now! 028 > > 029

  • Page 30
    // W H A T I S T H E ADDITIONAL VALUE OF PILOTED DRIVING? // H O W D O Y O U TRUST THE CAR? PHOTOS : Anthony Lindsey, Tim Adorf // W H A T I S I T A B O U T PILOTED DRIVING THAT EXCITES YOU?

  • Page 31
    ... market. The focal point of digitalization lies in San Francisco, the gateway to Silicon Valley : "We identify trends here and cooperate with start-up companies whose products could be interesting for Audi and that create value for our customers," says Boris Meiners, Head of Audi Brand Development...

  • Page 32
    ... does it think of all the predictive driver assistance systems ? Dummy H3-50 gives us an exclusive glimpse into one of the toughest jobs at Audi. An unusual interview before and after the crash test of the new Audi A4. PHOTOS : Wolfram Scheible, AUDI AG Fuel consumption and emission figures at the...

  • Page 33
    ... TURN : AUDI TURN ASSIST This Audi innovation monitors oncoming traffic when turning within a speed range of between two and ten kilometers per hour. In the event of danger, turn assist brings the car to a complete stop. The system becomes active as soon as the driver uses the turn signal. innovate...

  • Page 34
    "I am proud to be a part of vehicle development and to contribute toward making the vehicles even safer." What kind of crash will this be today ? Dummy H3-50 : An A4 Sedan will drive into a special crash barrier, head-on, at 56 kilometers per hour. Imagine the tremendous forces acting on the ...

  • Page 35
    ...lead. Our engineers are currently developing very effective tools for vehicle safety : Besides Audi pre sense city, we also have turn assist, which actively helps to prevent accidents while turning across lanes with oncoming traffic. There is also the rear cross-traffic assist, which warns of other...

  • Page 36
    Fuel consumption and emission figures at the end of the Annual Repor t PHOTOS : Daniel Wollstein, AUDI AG

  • Page 37
    ... foot on the moon nearly 50 years ago. Today's version would read : One small click for engineers, one giant thrill for customers. Audi is generating excitement not just with the new A4, but also with a special experience when buying a car. Even though adventure is routine for extreme athlete Kenny...

  • Page 38
    ... & Trials World Championships four times, is a six-time UCI Trials World Cup overall winner and has claimed three European titles. In 2015, "the magician... "I want to be the first person to ride a bike on the moon." PHOTOS : Daniel Wollstein, AUDI AG, Nathan Polis Fuel consumption and emission figures ...

  • Page 39
    ... gets in. "That is so realistic !" The new virtual reality headset makes both things possible : discovering the available options for configuring the A4 and exploring the lunar landscape. Before long Audi will be offering its customers this experience worldwide at selected Audi City locations and...

  • Page 40
    ... : Audi connect with LTE, Audi smartphone interface and a long list of assistance systems. He also selects an assistance package with predictive efficiency assistant and park assist. "For my wife," he jokes with a laugh. Kenny now lowers his head to get a closer look at the MMI touch in the center...

  • Page 41
    ...intuitive digital interface possible for Audi customers. This will be the future front end for a tailored portfolio of products, after sales and mobility services. The increasingly diverse world of Audi should also be made even clearer and more convenient to access for Audi customers. innovate. now...

  • Page 42
    ... production belongs to the Smart Factory. As an innovation driver, Audi Toolmaking plays an essential role here. This is where the tools and facilities are created for manufacturing the body parts of Audi models. The team has succeeded time and again in pushing the boundaries on what is technically...

  • Page 43
    ... of Audi cars ? The Toolmaking division currently develops and builds special tools and equipment for manufacturing bodies at five sites located in Ingolstadt, Neckarsulm, Barcelona (Spain), GyÅ'r (Hungary) and Beijing (China). This expertise also benefits other brands of the Volkswagen Group. The...

  • Page 44
    ... through a system of pipes - as much as 20 metric tons of iron for large press tools such as those for side panel frames. In the process, the styrofoam model embedded in mold sand evaporates and the iron replaces it - the tool blank is complete. In the future, Toolmaking will use new technologies...

  • Page 45
    ... with traditional tools. In the lower tool part, for instance, these reductions can add up to as much as 1.4 metric tons. This significantly cuts the amount of energy needed to operate the tools. Now it is time to fine-tune the tool. Using a high-performance milling insert, the press tool is...

  • Page 46
    ... ALSO DEVELOPS EQUIPMENT AND FACILITIES for the Audi Q2 production lines it shares with the A3 model family. On the path toward the efficient Smart Factory, human-robot cooperation is becoming increasingly important. In the assembly area, robots work with people without extensive safety devices. So...

  • Page 47
    ... is solved by the use of intelligent tools. They monitor the forming process with the help of numerous sensors. Laser sensors, for instance, make it possible to track metal ï¬,ow in the ï¬,ange area. If deviations from the target value are found, the tool automatically adjusts the clamping forces in...

  • Page 48
    ... using it in every vehicle project since 2015. Like all activities at Audi Toolmaking, will utilize virtual technologies more intensively in the future. Whether the project involves a 3D metal printer or intelligent tools that reduce material scrap and support sustainable production - on the way to...

  • Page 49
    ... clean cars in a 100 percent carbon-neutral factory in the near future. We are developing innovative solutions and using the latest technologies to achieve this goal. How do you promote a culture of innovation ? Innovation is an important competitive factor, so lateral thinking is key. Ideas and...

  • Page 50
    ... while the car navigates through the city's traffic. Arriving for the meeting while the car parks itself. Relaxing on the way back in your personal space between the office and your home. What sounds like science fiction is becoming reality. TEXT : Barbara Wege PHOTOS : AUDI AG, Ian MacLellan...

  • Page 51
    ... these new partnerships with public and private business partners. The Urban Future Partnerships are a result of the Audi Urban Future Initiative, which the company has developed since 2010 as a way to advance interdisciplinary discourse about the future of mobility in cities. "We have learned that...

  • Page 52
    ... S AND BUSINE SSE S RECOGNI ZE T H E I R E C O N O M I C VA L U E , T H E R E I S G R E AT E R M O T I VAT I O N T O I N V E S T I N I N T E L L I G E N T I N F R A S T R U C T U R E O R A S M A R T C A R F L E E T." Prof. Rupert Stadler PHOTOS : AUDI AG, Ian MacLellan ILLUSTRATIONS : Tobias Nolte

  • Page 53
    ...step into the future," says Audi engineer Christian Feist. He develops driver assistance systems in Ingolstadt at Audi Electronics Venture GmbH, a subsidiary of AUDI AG. "Up to now we have tested our technology in existing buildings. Now we can inï¬,uence the architecture and get even more out of it...

  • Page 54
    PHOTOS : AUDI AG, Ian MacLellan ILLUSTRATIONS : Tobias Nolte

  • Page 55
    ... cars, buses and the mobile devices of cyclists and pedestrians," explains Michael Zweck of the Volkswagen Group's Electronics Research Laboratory, a research and pre-development center in Silicon Valley. "Then traffic can be regulated so that everyone saves time." Zweck advises city representatives...

  • Page 56
    ... include serving as peak power buffers and renewable supply for remote buildings. This allows the used batteries to serve a useful purpose in their second life, benefiting the environment and the economic efficiency of electric mobility. 2ND LIFE ENERGY STORAGE PHOTOS : AUDI AG, Tobias Sagmeister

  • Page 57
    DIGITALIZATION. INTERNATIONALIZATION. ALTERNATIVE DRIVES WITHOUT SACRIFICES. WE OFFER UNCONVENTIONAL ANSWERS. 02

  • Page 58
    ... demonstrator Audi RS 7 piloted driving concept, nicknamed "Robby." Axel Strotbek, Member of the Board of Management for Finance and Organization at AUDI AG, meets here with Dr. Elgar Fleisch, Professor of Technology Management at the University of St. Gallen and of Information Management at...

  • Page 59
    evolve. now! 058 > > 059

  • Page 60
    ...and disappointment. Because the wider world of the Audi brand. This entire process hinges on the "Audi ID" - a data key that sheds light on our entire relationship with the customer. Digitalization also means we are becoming faster and bolder at tapping into new business areas. The core requirement...

  • Page 61
    monthly, all-inclusive rate. In this way we are gradually developing and scaling up new, regional business models, in parallel with significant business indicators. Because long-term, the new business areas of course also have to satisfy our profitability standards. FLEISCH : The Internet economy ...

  • Page 62
    ...of data analytics - how to identify connections whose existence we are still currently unaware of. And use them to identify new business models. FLEISCH : Yes, that's definitely a key part of exploiting the effects of the digital network economy. A company can learn from every piece of information...

  • Page 63
    ... business partner and participate actively in the development of these business models from an early stage. FLEISCH : In tomorrow's world, where we will be paying more attention than ever to mobility services, I will have to measure and manage things at a highly granular level, so that new business...

  • Page 64
    ... After all, as Head of Materials Engineering in Audi Quality Assurance, she subjects every material, every component, every vehicle to a marathon of endurance testing. Ultrarunner Anne-Marie Flammersfeld also subjects herself time and again to these kinds of endurance tests. The two women are hiking...

  • Page 65
    08 TEXT : Stefa nie La ng evolve. now! 064 > > 065

  • Page 66
    ... precisely how the vehicles behave. INCA test : The Ingolstadt corrosion and aging test simulates 12 years of a car's life in 19 weeks : extreme humidity, heat and cold in climatic chambers ; gravel, mud and salt on the test tracks - every Audi model is fully dismantled after the endurance test and...

  • Page 67
    ... executives in Audi Top Management. The trained metallographer initially started out at TÃœV Bayern and has been working in Quality Assurance at Audi since 1978 - always in the laboratory. In 2011, Droll also took charge of the Volkswagen AG Group laboratory. She lives in Ingolstadt and has two...

  • Page 68
    ..., the conversation turns to the future. FLAMMERSFELD : Over the next few years I intend to climb the highest volcano on each of the world's continents - and to do so from the lowest point in the country. Next on the list is North America's highest volcano, the Citlaltépetl in Mexico, towering over...

  • Page 69
    .... In 2015, she ran up to the summit of Kilimanjaro at 5,895 meters in eight and a half hours - setting a world record in the process. Light laboratory : Here the materials to complete a winter ascent with skiers. I constantly have to set myself new goals and challenges. What I learn along the...

  • Page 70
    ... from the earliest stages of vehicle development. Supported by bought-in parts management in Audi Procurement, suppliers get fit for the series-production marathon. The main aim is to provide all component items and innovations to series production on time and with the requisite high quality...

  • Page 71
    ... works together with Technical Development to support suppliers that produce special tools for Audi components - in terms of durability and complexity. Production of the headlight alone in the next Audi A5 requires tools for around 122 individual parts. The tools for the headlight's cover glass are...

  • Page 72
    ...ned time window with a high standard of quality. The Audi trainer team consists here of Procurement along with employees from Technical Development and Production as well as Quality Assurance. At present, for example, a team is working on the start of production of the new Audi Q5 in Mexico, which...

  • Page 73
    ... Automotive Supply Tracks" - FAST for short - in spring 2015. This is our attractive strategic supplier program. We share knowledge on technical concepts with our FAST partners right from the pre-development phase. That way we can be the first manufacturer to bring innovations to market together...

  • Page 74
    SHANGHYBRID. TEXT : Berthold Dörrich PHOTOS : Algirdas Bakas The models mentioned are available exclusively on the Chinese market.

  • Page 75
    ..., mega metropolises like Shanghai are still far from being smart cities. Steadily rising traffic volume and the associated environmental pollution demand intelligent mobility concepts. This makes Shanghai the ideal place to bring the new Audi Q7 e-tron 2.0 TFSI quattro plug-in hybrid together with...

  • Page 76
    ... for the sustainabilit y of a building as a car manufacturer is for its a u t o m o b il e s ." Robert Price, architect We climb into the Audi Q7 e-tron quattro at Pudong Airport and the MMI Navigation plus takes over. It not only computes the fastest route to our meeting at the architecture firm...

  • Page 77
    ...-tallest building in the world today. Robert Price believes this is one aspect his job has in common with that of automobile designers and development engineers : "You have to conceive things today that will not become reality for many years. Parameters often change along the way, of course. New...

  • Page 78
    ...," says Price. Parallels in the Audi Q7 e-tron quattro are the intelligent use of waste heat from the electric drive for the car's The twisted, organically inspired form of the Shanghai Tower is intriguing. But the intelligent ideas implemented in the building are what make it truly special. The...

  • Page 79
    ... opposite aspects, which are among the core competencies of Technical Development : Classic combustion engines, electrified drive trains, synthetic fuels plus intelliANOTHER NEW ONE FOR CHINA. The Audi A6 L e-tron was developed specially for the Chinese market and is based on the long-wheelbase...

  • Page 80
    ... ï¬,ies from Audi headquarters in Ingolstadt. This is where the future is being created : Starting in 2016, the new Audi Q5 will be built here in one of the most modern automobile plants in North America. By superbly qualified employees. For the whole world. TEXT : Philipp Meier PHOTOS : AUDI AG

  • Page 81
    ... have been created at the new plant. And the is expected to climb as high as 20,000 in the coming years. since Audi started building here, everything has changed. The for the region and its people. By the time production begins, number of jobs in the direct and indirect economic environment Over...

  • Page 82
    ...that in the end they consider themselves part of the worldwide Audi In Mexico too, Audi relies on the proven dual vocational training program, which is based on the German model. Five technical apprenticeship vocations are currently offered - including toolmaker and mechatronics technician. Theory...

  • Page 83
    ...have been sent to the main Audi plants in Germany, where there is considerable experience in production start-ups, to receive specialized training for their future responsibilities in Mexico. There they were able to rely on experienced Audi employees for personal support. That is how Salvador Vargas...

  • Page 84
    ... Jahir Picazo Treviño has been With the 12th production location for Audi models worldwide, the company is consistently moving internationalization forward - efficient, networked and with a qualified team. In the future, up to 150,000 units of the new Audi Q5 are to be produced here annually. And...

  • Page 85
    ...multimedia content, for example, to promote self-organized and informal learning. Assembly growth. For this, the roughly 85,000 Audi employees worldwide are creating a competence network by sharing knowledge and benefiting from experience gained at the various locations. evolve. now! 084 > > 085

  • Page 86
    ... car presented at the 2215 International Motor Show (IAA) reconciles what may sound as different as black and white - and provides an insight into the first all-electric Audi in series production, which will be rolled out to customers from 2218. TEXT : Timo Pape EF PHOTOS : AUDI AG ITEMENT

  • Page 87
    ... re o sa ys we sp na Th t - o c lig m r om ran e e is co tem ic en nsib ful l ge nfi e bo pl lit int td le e h g d o ctr ap erpl rive for t ium... a op e b ba e as issi tha ria etw nag imp e o tt e r te n we m nen essi ery fo en t fre ll v rt h t e. he e th sys e fig are as eq te u sit r ua ee e m c ...

  • Page 88
    .... At the same time, traditional design characteristics are being carefully honed. These include the octagonal Singleframe, which is a characteristic feature on the brand's Q models, and the striking shoulder line that forms blister contours above the wheels - an expression of the Audi quattro DNA.

  • Page 89
    AMICS AESTHET evolve. now! 088 > > 089

  • Page 90
    ... innovations - that much is clear at a glance. With the combination of Matrix, LED, laser and OLED technologies, Audi is also taking lighting technology to the next level in the concept car. At the same time, the electric SUV is equipped with everything that Audi has developed for piloted driving...

  • Page 91
    .... This DNA runs through the entire car. In the interior, the e-tron quattro concept offers superb comfort, progressive forms and a wide range of Audi connect features with LTE. The high-quality craftsmanship and the dynamic driving experience - two characteristics that Audi customers have come to...

  • Page 92
    .... Today I am meeting a man at Audi who has sustainability in his job title : Reiner Mangold - Head of Sustainable Product Development. But what does that mean in practical terms for a car guy ? "In our case, it's about ideas that have a long-term, all-encompassing character and help actively...

  • Page 93
    ... of the Audi e-gas project, is there to explain it to me today and tells me what inspired him in the first place : wind turbines. "I kept wondering : What happens to the power from wind farms if supply exceeds demand ?" His appetite for innovation whetted, he searched for and found researchers who...

  • Page 94
    ... and head of the French start-up company Global Bioenergies S.A. will be showing me where he would like to produce Audi "e-benzin," the fuel of the future for efficient gasoline engines. We drive 30 kilometers west to Leuna. This is where the first demonstration plant for Audi "e-benzin" is to be...

  • Page 95
    H OW D O W E M A K E AU DI "E -B E N Z I N " ? W I T H B AC T E R I A . evolve. now! 094 > > 095

  • Page 96
    H OW D O W E M A K E AU DI E -DI E S E L ? W I T H S U N L IG H T. PHOTOS : Getty Images, AUDI AG

  • Page 97
    ... this barren vista are its oil rigs. Then suddenly the research facility operated by the Massachusetts biotech company Joule Unlimited appears in front of me. One of the start-up's masterminds is process engineer Brian Baynes : "With the help of sunlight, we can produce high-quality fuels from waste...

  • Page 98
    ... slowly apply the gas pedal. The driver can use the rotary/ push-button control of the MMI to variably set the angle to which the trailer should be driven. The image from the rearview camera on the MMI monitor shows lines that serve as a guide. Trailer assist turns the steering wheel and guides the...

  • Page 99
    DRIVING PLEASURE IN EVERY MOMENT. PROMOTING YOUNG TALENT IN MOTORSPORTS. ITALIAN PASSION. WE SET PULSES RACING - ON TWO WHEELS AND FOUR. 03

  • Page 100
    ... powerful series-production Audi ever. The muscular V10 mid-engine with an output of 449 kW (610 hp) delivers the right propulsive power, while the supersporty chassis with new quattro drive ensures excellent roadholding. Together with its laser spot headlights, this car makes every nighttime drive...

  • Page 101
    per form. now! 10 0 > > 101

  • Page 102
    ... refined quattro drive system distributes drive torque ideally between the front and rear wheels. I step on the gas. This must be the feeling race car drivers experience when they are pressed back into their seats at full speed. Assisted by the new laser spot headlights, I also have a great...

  • Page 103
    ... introduction of the laser spot in series-production models as well. Audi Technical Development has one of the largest drive-in light tunnels in Europe, which was specially built for such research purposes. The innovations created there now impress customers on the road as well. per form...

  • Page 104
    ... curve. "We swear by this light because it lets us recognize obstacles just that bit sooner. And that is absolutely crucial at high speed." Filipe Albuquerque, Audi race car driver. Driver in the Audi R18 e-tron quattro with laser spot, Le Mans 2015 The brakes grip immediately on my command before...

  • Page 105
    ...-production cars. MILESTONES IN AUDI LIGHTING EXPERTISE 2004 2008 2010 2012 2013 2014 2015 LED daytime running lights on the Audi A8 All-LED headlights on the Audi R8 Navigation-controlled headlight pattern distribution, previously controlled by steering wheel angle, on the Audi A8 Dynamic turn...

  • Page 106
    ...-day casting call for racers in December 2014. In 2015, the Audi Sport TT Cup drivers took to the track a total of 12 times on six DTM weekends. PHOTOS : Frank Kayser Audi has racing in its genes. That is why the declared goal is to develop young drivers from its own ranks rather than simply bring...

  • Page 107
    per form. now! 10 6 > > 107

  • Page 108
    ... now with the Audi Sport TT Cup. The package is great : a state-of-the-art race car, support from a coach, mechanics and support off the track. Everything a professional racer would also get. // The driver becomes part of the large Audi family. Drivers who perform well here can make it to a higher...

  • Page 109
    ... maneuvers. Depending on starting position, this extra power can be called on up to 15 times. And the key is to use it at the right place. But it is not enough to impress on the track. How the drivers present themselves on social media platforms on the Internet is also important. Mikaela : // In the...

  • Page 110
    .../November China Race format Top eight drive individual time trial Ranked according to fastest lap Qualifying Individual time trial Race 1 Race 2 15 min. 1 lap 30 min. 30 min. Titles Here you will find finale highlights of the 2015 Audi R8 LMS Cup in Shanghai. Driver Amateur Team Four Rings...

  • Page 111
    ... Four Rings has enthralled fans in Asia with the dramatic racing moments offered by the Audi R8 LMS Cup. The Cup debuted in China in 2012 and is now present throughout Asia. In 2015, the finale was held for the first time in conjunction with the FIA World Endurance Championship (WEC), making the...

  • Page 112
    ...cars are a medium for projecting future visions. They are superlatives on four wheels and act as inspiration, predictions and signs of things to come. Three Lamborghini studies offer a glimpse of the future. SESTO ELEMENTO // A STATEMENT...IN THE PER IODIC TABLE. TEXT : Dorothea Joos PHOTO : AUDI AG

  • Page 113
    ... the top speed," explains Research and Development Director Maurizio Reggiani. "What counts is power-to-weight ratio, handling and performance." The calculation is simple : Lightweight construction plus high performance equals extreme driving pleasure. the Lamborghini in-house development laboratory...

  • Page 114
    ...the red start button in the center console. A quick A STER ION LPI 910-4 // W I TH TAURUS BEING THE ZODI AC SIGN OF COMPA N Y FOUNDER FERRUCC IO L A MBORGHINI, THE BULL H A S ALWAYS BEEN S Y NON Y MOUS W I TH SUPERC A R S M A DE IN SA NT'AG ATA BOLOGNESE. NUMEROUS MODEL S H AV E TA K EN THEIR N A ME...

  • Page 115
    ...'t resist the challenge," explains Research and Development Director Maurizio Reggiani. "A Lamborghini has sportiness in its genes....new approach to the use of hybrid technology for building sports cars," says Reggiani. To this end, the Italians have combined a V10 engine with three electric motors...

  • Page 116
    ... changer," says Research and Development Director Maurizio Reggiani. Four seats, a high-performance engine and, despite being relatively ï¬,at at 1.66 meters high, unmistakably an SUV. Is it really a Lamborghini ? The interior of the concept car features impressive comfort. Easy access, ample space...

  • Page 117
    ...the new series-production model based on the Urus. A Lamborghini as the main car. A supercar that customers can enjoy with their friends and family. Lamborghini will begin building the SUV for daily use in Sant'Agata Bolognese in 2018, creating a total of 500 new jobs in the process. The plant will...

  • Page 118
    Built for the future with the heritage of the 1960s : Ducati has revived the legendary Scrambler - and with it, an entire world, which now also satisfies the yearning of bikers who are passionate about more than just racing. The yearning for freedom and individuality. We find ...

  • Page 119
    per form. now! 118 > > 119

  • Page 120
    PHOTOS : Peter Heck

  • Page 121
    ... - and has for over 20 years. From the very first time I rode a motorcycle I just knew it was the thing for me. A lot has happened since then. I set up a motorcycle school in Chicago, trained soldiers on two wheels for the American military and taught celebrities and famous sportspeople how to...

  • Page 122
    PHOTOS : Peter Heck

  • Page 123
    ...farther we get from the city, the broader...start to relax. Mile after mile toward the top, the route gives us some fantastic views of the Pacific. We're almost there. I personally feel best on the mountain at the point where the paved road ends and a gravel track starts. There's not even a cell phone...

  • Page 124
    ...-the-art technology. It has all the technical refinements, including upside-down forks, aluminum wheels, central suspension strut and radially mounted front brake calipers. Despite the retro look, it is up to date with LED lights, LCD instruments and a USB connection under the seat. To allow every...

  • Page 125
    per form. now! 124 > > 125

  • Page 126
    ...EC E M B E R 31, 2015 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 287. All figures are rounded off, which may lead to minor deviations when added up. Internet sources refer to the...

  • Page 127
    ... development in automobile markets worldwide was less positive PHOTO : Volkswagen AG Europe, on the other hand, exceeded the expectations voiced at the start of the year. Amid this challenging environment, the Audi Group maintained its course of growth and supplied 1,803,246 cars of the Audi brand...

  • Page 128
    ... in recent months, mainly in writing. This applies in particular to the V6 3.0 TDI diesel engine developed by Audi, which is affected by investigations by CARB (California Air Resources Board) and EPA (Environmental Protection Agency) in the United States. All Supervisory Board members were present...

  • Page 129
    ...the brands of the Audi Group. It will systematically seek to achieve customer delight through new technologies, products and services that are sustainable, digital and connected. The Supervisory Board will continue to lend its constructive support to the Board of Management as the Audi Group pursues...

  • Page 130
    ... associated company FAW-Volkswagen Automotive Company, Ltd., Changchun (China) 3) Investments in property, plant and equipment, investment property and other intangible assets (without capitalized development costs) according to the Cash Flow Statement in relation to revenue 4) Taking into account...

  • Page 131
    ..., 2015 BASIS OF THE AUDI GROUP // 132 Structure // 132 Strategy // 134 Management system // 140 Shares // 142 Disclosures required under takeover law // 143 ECONOMIC REPORT // 144 Business and underlying situation // 144 Research and development // 149 Procurement // 156 Production // 157 Deliveries...

  • Page 132
    ... of activity for quattro GmbH is its exclusive customization program and high-grade lifestyle articles that embody the spirit of the Audi brand. As well as building vehicles, AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungar y), develops and manufactures engines for AUDI AG, other Volkswagen Group companies...

  • Page 133
    ... Lamborghini S.p.A. > Huracán Coupé > Huracán Spyder > Aventador Coupé > Aventador Roadster Changchun/China FAW-Volkswagen Automotive Company, Ltd. > A4 L Sedan > A6 L Sedan > Q3 > Q5 Foshan/China FAW-Volkswagen Automotive Company, Ltd. > A3 Sedan > A3 Sportback Neckarsulm/ Germany AUDI AG...

  • Page 134
    ... financial statements. Control and profit transfer agreements exist both between Volkswagen AG, Wolfsburg, and AUDI AG, and between AUDI AG and a large number of its German subsidiaries. STRATEGY / VISION: "AUDI - THE PREMIUM BRAND" Our overriding strategic goal of developing Audi into the world...

  • Page 135
    ...our cars' operating system via Google Android Auto. The functions of iOS devices are also made available in the vehicle via Apple CarPlay. Smartphone integration is currently available in the new Audi A4 and new Audi Q7 under the name of Audi smartphone interface. To enable our customers in China to...

  • Page 136
    ... the Audi brand. For example, we introduced journalists, dealers and customers to the fascination of piloted driving at several events staged over the past fiscal year. In early 2015, selected journalists were able to panying program of the German Touring Car Masters (DTM). More information about...

  • Page 137
    ... around products and processes, and communicated these to our locations in Germany, Hungar y, Belgium and Mexico. The Audi Corporate Responsibility Report 2014 was presented at the Annual General Meeting of AUDI AG in May 2015. We prepared this document in accordance with the new G4 reporting...

  • Page 138
    ... (1,741,129) vehicles delivered, the Audi brand achieved a further increase in deliveries to customers in the 2015 fiscal year despite a challenging market environment. High demand for vehicles of our A3 family and our SUV models as well as growth in the North America and Western Europe regions were...

  • Page 139
    ... communicated the innovative idea "Audi Fit Driver," for example. The driver's current state of fitness is detected by a wearable device and the vehicle sensors. > The efficiency of our products > Alternative drive systems > Vehicle presentation and interior experience > Connected, automated driving...

  • Page 140
    ... MANAGEMENT PROCESS IN THE AUDI GROUP The Audi Group is incorporated as an integral part into the Volkswagen Group's management process. Management of the Audi Group encompasses AUDI AG and its subsidiaries. Appro- planning topics are defined on the basis of their time horizons: > The product range...

  • Page 141
    ...without capitalized development costs) is an indicator of our Company's innovative strength. For this purpose, the capex according to the Cash Flow Statement is considered in relation to revenue. Capital investment in essence comprises financial resources for updating and expanding the product range...

  • Page 142
    ...AUDI GROUP SHARES SHARES / STOCK MARKET DEVELOPMENTS The 2015 stock market year saw relatively high volatility among the individual stock markets. For example, at the start of the year European stock markets benefited from support measures taken by the European Central Bank (ECB), the low oil price...

  • Page 143
    ... General Meeting. The acquisition of treasury shares is regulated by Section 71 of the German Stock Corporation Act. / KEY AGREEMENTS BY THE PARENT COMPANY THAT ARE CONDITIONAL ON A CHANGE OF CONTROL FOLLOWING A TAKEOVER BID Pursuant to the agreement concluded between AUDI AG, BMW AG and Daimler AG...

  • Page 144
    ... ECONOMIC REPORT In a challenging market environment, the Audi Group maintained its course of growth in 2015 and increased deliveries of the core brand Audi by 3.6 percent to the new record total of 1,803,246 cars. New records were established in a large number of individual markets. BUSINESS AND...

  • Page 145
    ...In Germany - the largest market for passenger cars in Western Europe - new registrations showed a positive development following higher demand from business customers, with growth of 5.6 percent taking the sales volume to 3.2 (3.0) million passenger cars. Most passenger car markets in Central Europe...

  • Page 146
    ...Financial performance indicators" on pages 165 ff. Forecast/actual comparison Audi Group Actual 2014 Deliveries of cars of the Audi brand to customers Revenue in EUR million Operating profit in EUR million Operating return on sales in percent Return on investment (ROI) in percent 23.2 Net cash flow...

  • Page 147
    ... Group is currently in intensive dialogue with the EPA and CARB on this matter. In consultation with the relevant agencies, the Volkswagen Group intends to present a solution for the affected four-cylinder TDI engines to customers in North America. On November 2, 2015, EPA informed the public...

  • Page 148
    ... present and future net worth, financial position and financial performance of AUDI AG and the Audi Group. Nor are any facts currently known to the incumbent Board of Management which would imply that the Annual and Consolidated Financial Statements for 2014 were materially incorrect if individual...

  • Page 149
    ... costs Research and development activities 2015 2014 Research and development activities 2,979 1,262 4,240 3,005 1,311 4,316 / TECHNICAL INNOVATIONS // OUR DRIVE SYSTEMS - DRIVING PLEASURE Workforce in the Research and Development area Average for the year AUDI AG AUDI HUNGARIA MOTOR Kft...

  • Page 150
    ... Matrix LED headlights. MMI Navigation plus gives the driver access to such features as the intelligent cornering light - the headlights draw on the familiar route data to cast their beam into a bend even before the steering wheel is turned. Also new with Matrix LED headlights in the Audi A4 is an...

  • Page 151
    ECONOMIC REPORT RESEARCH AND DEVELOPMENT > Lighting Test 2015: The Audi TT came in at the top of the AUTO ZEITUNG lighting test with its Matrix LED headlights (www.autozeitung.de/ auto-vergleichstest/laser-licht-led-xenon?page=0,1 - link only available in German). low vehicle, standing 1.54 meters...

  • Page 152
    ...the Audi smartphone interface is optionally available in the new Audi A4 and Audi Q7 for integrating Apple and Android smartphones. Audi phone box connects smartphones to the on-board antenna. Using the Qi standard, it also supports inductive Further information on our alternative drive systems can...

  • Page 153
    ... Center; and Audi service request, which enables customers to make a service appointment. The free Audi MMI connect app brings other services such as online media streaming into the vehicle. The Audi MMI connect app also offers owners of the new Audi A4 and Audi Q7 models vehicle-specific remote...

  • Page 154
    ... The innovative MMI search is the main starting point in the new operating concept for all new Audi models. The search function makes it easier to find music tracks as well as to input phone contacts and navigation destinations. Another highlight is the user-friendly voice control system. The driver...

  • Page 155
    ... information to all of the assistance systems. In the future, Audi connect will also make it possible for piloted Audi cars to learn continuously as they drive. High-speed mobile communications networks and cloud technology allow the use of machine learning algorithms. In this way, the zFAS control...

  • Page 156
    ... looking for partners who already have a global footprint. Our new production location in Mexico exemplifies our localization strategy. When production of the new Audi Q5 starts there in 2016, over 65 percent of bought-in parts will be sourced locally within the North American Free Trade Agreement...

  • Page 157
    ...) cars of the Audi brand were manufactured by FAW-Volkswagen Automotive Company, Ltd., Changchun (China), an associated company. From January through December 2015, the Audi Group built a total of 1,826,627 (1,801,974) vehicles of the premium brand Audi and 3,707 (2,650) supercars of the Lamborghini...

  • Page 158
    ... and the production start of the new Audi A4 model line. At our Neckarsulm location, 272,103 (273,168) vehicles were produced in the past fiscal year. In the same period, AUDI HUNGARIA MOTOR Kft. manufactured vehicles of the TT car line in GyÅ'r (Hungar y). The Audi Group built a total of 160...

  • Page 159
    ... Ingolstadt plant in the year under review. Our new Lighting Assistance Center was opened at the start of 2015. Measuring 120 meters in length, it is the largest drivable light tunnel in Europe. // NEW PLANT IN MEXICO ON TRACK In San José Chiapa (Mexico), we are preparing for the production start...

  • Page 160
    ... (189,858) vehicles of other Volkswagen Group brands. In the Motorcycles segment, the Ducati brand increased its volume of deliveries to 54,809 (45,117) motorcycles in the past fiscal year. / AUTOMOTIVE SEGMENT Car deliveries to customers by model 1) 2015 Audi A1 Audi A1 Sportback Audi A3 Audi A3...

  • Page 161
    ...can be ordered as S models. June 2015 saw the introduction of the Audi RS 3 Sportback as the car line's sportiest model. As well as the high-performance, efficient TFSI and TDI engines, we offer two other drive systems in this car line. The Audi A3 Sportback g-tron can run on a choice of natural gas...

  • Page 162
    ... at the start of 2016. We are also planning to launch the Audi A6 L e-tron in the Chinese market in 2016. Total deliveries of the A6 family came to 296,613 (303,591) vehicles in 2015. //// AUDI A7 The Audi A7 Sportback is a five-door coupe characterized by its flat, dynamic roof line. The first...

  • Page 163
    ... drive. 2,191 (2,222) customers chose a model from the Audi R8 car line in the 2015 fiscal year. /// DELIVERIES BY REGION AND MARKET The Audi brand handed over a total of 1,803,246 (1,741,129) cars to customers in 2015 - an increase of 3.6 percent over the previous year. In Europe, we reached a new...

  • Page 164
    ... and sportiest series-production model built by Lamborghini. The Lamborghini brand delivered a total of 3,245 (2,530) supercars to customers in the period under review, setting a new record in the process. The U.S. market remains the largest single market for Lamborghini. first half of 2015 in the...

  • Page 165
    ... positive developments, for example, in our genuine parts business. In the Motorcycles segment, the Audi Group increased revenue to EUR 702 (575) million in 2015, above all as a result of the market introduction of the new Ducati Scrambler. The increased delivery volume, the large number of current...

  • Page 166
    ...V6 3.0 TDI. This includes financial expenditure for technical measures, sales measures and legal risks. The four-cylinder TDI engines affected do not have direct influence on the financial performance of the Audi Group in view of existing agreements with Volkswagen AG. The special items also include...

  • Page 167
    ... from the Company's current investment phase. Return on investment of the Audi Group EUR million Operating profit after tax Invested assets (average) Return on investment (ROI) in % 2015 3,385 17,467 19.4 2014 3,605 15,567 23.2 NET WORTH Audi Group balance sheet structure (EUR million) 2012 40...

  • Page 168
    FINANCIAL PERFORMANCE INDICATORS NET WORTH As of December 31, 2015, the Audi Group's balance sheet total increased by 11.8 percent to EUR 56,763 (50,769) million. Non-current assets amounted to EUR 25,963 (22,538) million. The increase is mainly attributable to the higher property, plant and ...

  • Page 169
    ...the new model versions of the Audi A4 and Audi Q7 as well as the construction of the new production sites in Brazil and Mexico. The ratio of capex (investments in property, plant and equipment, investment property and other intangible assets, without capitalized development costs) in the 2015 fiscal...

  • Page 170
    ... independent dealers and which is only available to a limited extent. Furthermore, the Audi Group has committed but currently unused external credit lines. Condensed Cash Flow Statement of the Audi Group EUR million Cash and cash equivalents at beginning of period 2015 2014 3,689 6,540 Cash flow...

  • Page 171
    ... for new products, technologies and locations as well as the weaker market performance in China, profit from ordinar y business activities for AUDI AG decreased to EUR 3,741 (4,492) million. There were further effects from the diesel issue. These are presented as part of the management's overall...

  • Page 172
    ... WORTH // FINANCIAL POSITION // PRODUCTION NET WORTH The balance sheet total of AUDI AG grew by 9.0 percent to EUR 33,839 (31,031) million in the 2015 fiscal year. Fixed assets of EUR 13,286 (10,628) million were up on the previous year's level as a result of capital investments in property, plant...

  • Page 173
    ...Research and development activities amounted to EUR 3,640 (3,484) million. PROCUREMENT The cost of materials for AUDI AG totaled EUR 34,482 (32,087) million in the 2015 fiscal year. REPORT ON RISKS AND OPPORTUNITIES In essence, the risks and opportunities affecting the business performance of AUDI...

  • Page 174
    ... synthetic gas. Drivers of the Audi A3 Sportback g-tron can pay for fuel at CNG (compressed natural gas) filling stations with the Audi e-gas fuel card. Audi then supplies the corresponding amount of e-gas into Germany's natural gas network from the Werlte facility. This means the vehicle runs with...

  • Page 175
    ... engine and quattro drive achieves a range of up to 56 kilometers solely on its electric motor. This vehicle will become available in our home market Germany in 2016. We have also developed the e-tron models Audi A6 L e-tron and Audi Q7 e-tron 2.0 TFSI quattro specifically for Asian markets and plan...

  • Page 176
    ... with speed limits or on bends, for example. The modular efficiency platform Assistance systems Economical route guidance Dynamic congestion avoidance Gear-change indicator Driver information system with efficiency program Audi adaptive cruise control with stop&go function Audi drive select...

  • Page 177
    ...The key details of weight reduction on the new Audi Q7 3.0 TDI quattro / AUDI MODELS WITH AVERAGE CO 2 EMISSIONS OF UP TO 140 G/KM To coincide with the switch to the Euro 6 emission standard, we reduced the number of drive versions available in the 2015 fiscal year. By the end of the 2015 reporting...

  • Page 178
    ...the CO2 emissions generated by a vehicle's operation, but also location-based environmental aspects of the Company's value creation. when planning production and supply facilities as well as buildings, and when defining logistics processes. In 2014, the Audi Group became the first premium automobile...

  • Page 179
    ... been the case in Ingolstadt since 2012. Energy-saving processes are also in the spotlight at the Neckarsulm site. Highly energy-efficient Automated Guided Vehicles are used in the production of the Audi R8 at the new Böllinger Höfe facility. Since fall 2015, Audi Hungaria has covered around 60...

  • Page 180
    ... Audi Group locations with EMAS accreditation 1) Ingolstadt/ Germany AUDI AG DIN EN ISO 14001 DIN EN ISO 50001 Brussels/Belgium AUDI BRUSSELS S.A./N.V. DIN EN ISO 50001 GyÅ'r/Hungary AUDI HUNGARIA MOTOR Kft. DIN EN ISO 14001 DIN EN ISO 50001 Neckarsulm/ Germany AUDI AG, quattro GmbH DIN EN...

  • Page 181
    ...plant Foreign companies of which AUDI BRUSSELS S.A./N.V. of which AUDI HUNGARIA MOTOR Kft. of which AUDI MÉXICO S.A. de C.V. of which Automobili Lamborghini S.p.A. of which Ducati Motor Holding S.p.A. Employees Apprentices Employees of Audi Group companies Staff employed from other Volkswagen Group...

  • Page 182
    ....com/en/company/rankings/germany.html). > First place in trendence study in Hungary: AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungar y), topped the latest trendence survey of engineering and IT students. The Company achieved an outstanding second place among business students (www.trendence.com/en/company...

  • Page 183
    ... the 2015 reporting year, the Company and Works Council concluded a company agreement for the Ingolstadt and Neckarsulm locations that, for the first time, covers all measures and programs to protect and promote the health of the Audi workforce. The agreement contains seven preventive goals relating...

  • Page 184
    ... of Women and Men in Leadership Positions in the Private and Public Sector" in 2015, which requires companies to define specific targets and deadlines. In connection with this, AUDI AG has set itself the target of 5.6 percent women for the top management tier by the end of 2016, and 13.3 percent...

  • Page 185
    .... For example, "Café Vergissmeinnicht" on the Audi Technical Development site in Ingolstadt employs disadvantaged young people in the course of their training. In May 2015, around 3,800 employees took part in the 24-Hour Run in Ingolstadt, as a result of which AUDI AG donated around EUR 175,000 to...

  • Page 186
    ... financial and commodity markets could adversely affect the global economy. Registrations of new passenger cars in Western Europe should In Western Europe, economic recovery should continue in 2016. Its development, however, remains dependent on how effectively structural problems in a large number...

  • Page 187
    ... current assessments. // ANTICIPATED DEVELOPMENT OF DELIVERIES In the 2015 fiscal year, the Audi Group delivered over 1.8 million vehicles of the Audi brand to customers worldwide, again establishing record new registrations for the brand with the Four Rings in a large number of individual markets...

  • Page 188
    ...brand Ducati thanks to the large number of new products such as the new Flat Track Pro premium lifestyle model in the Scrambler model line and the new XDiavel. // ANTICIPATED FINANCIAL PERFORMANCE With the volume growth we are targeting, we should be able to moderately increase revenue for the Audi...

  • Page 189
    ... costs and processes to give ourselves the necessar y leeway for future investment projects. Anticipated development in the key performance indicators of the Audi Group Forecast for 2016 Deliveries of cars of the Audi brand to customers Revenue Operating profit/operating return on sales Return...

  • Page 190
    ... ad hoc. The Audi Group promotes the ongoing development of the Risk Management System through cross-divisional and cross-company projects. One of the priorities here is to interlink the system closely with financial corporate planning and management, accounting and insurance management. In view of...

  • Page 191
    ... avoid risks in the preparation of the financial statements of AUDI AG and the Consolidated Financial Statements as well as the Combined Management Report of the Audi Group and AUDI AG. The accounting system of Audi Group companies is a fundamentally decentralized organization. The consolidated...

  • Page 192
    .... Financial reporting is mapped on the basis of the Group-wide Volkswagen consolidation and corporate management system (VoKUs). Furthermore, continuous information sharing with Volkswagen Group Accounting takes place. VoKUs contains both historical data from Accounting and planning data from...

  • Page 193
    ...financial reporting and compliance breaches. 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 reports. Priority is given to defining preventive measures for limiting losses, communicating the updated...

  • Page 194
    ... 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 profit planning. In China, the cooling-down of the economy, the car market's declining rate of growth and the gradual...

  • Page 195
    ... business models. Audi connect already provides us with an established platform that we are steadily building on. As the interface between customer, dealer, vehicle and environment, we are constantly adjusting our products and services in line with customer requirements. The innovative assistance...

  • Page 196
    ... the future market success of new vehicle projects, technologies or services despite extensive market studies and thorough project planning and management. The main profit and cost drivers in the product development and product creation process are managed and monitored by our Controlling area and...

  • Page 197
    ... with Volkswagen AG with respect to the affected four-cylinder TDI engines, the Audi Group bears no direct economic risk from these proceedings. We therefore comment exclusively on proceedings concerning the affected V6 3.0 TDI vehicles in the following. On November 2, 2015, EPA informed the public...

  • Page 198
    ..., IT-based processes are key success factors for the Audi Group. The continuing digitalization of the relationship between customer, dealer and manufacturer offers an array of opportunities to improve our products and services, and to develop innovations. In the domain of connectivity, for example...

  • Page 199
    ... Services AG, Braunschweig, the Audi Group enables its customers to make use of borrowing and leasing arrangements. In connection with the refinancing of leasing agreements, deterioration in the cost of capital could lead to financial risks or sales risks for the Audi Group. Further information...

  • Page 200
    ... models to an expanded product range and by entering new customer segments, for example. In addition, Ducati could unlock extra potential through innovative business areas, for instance related to customer racing activities. The entr y into new markets, which includes the establishment of dealer...

  • Page 201
    ... // REPORT ON POST-BALANCE SHEET DATE EVENTS / OVERALL ASSESSMENT OF THE RISKS AND OPPORTUNITIES SITUATION OF THE AUDI GROUP The Audi Group is managed on the basis of targets and opportunities, with the focus on a sustainable increase in value. The Risk Management System and Internal Control System...

  • Page 202
    ... April 25, 2015; > 5.4.6, para. 2, sentence 2 (performance-related compensation of the Supervisory Board). an age limit is not appropriate. The ability to successfully manage a company, or to supervise the Board of Management or the Supervisor y Board in their management activities as required is...

  • Page 203
    ... seat on the Supervisory Board is to be filled by a person who is independent and has no business or personal ties with AUDI AG or its Board of Management and performs no advisor y or executive functions at customers, suppliers, lenders or other business partners of the Audi Group. >> 2 0 3

  • Page 204
    ... of AUDI AG, acting as multipliers in relation to compliance issues. The Compliance Management System (CMS) was further expanded in 2015. The annual compliance program is an essential tool for the creation of a uniform starting point for all compliance activities throughout the Audi Group. For...

  • Page 205
    ... as helping to comply with legal requirements, particularly in relation to the accounting process, this system enables the Audi Group to manage the key risks that it faces from a holistic perspective, taking account of both material and non-material criteria. An internal Board Directive lays down...

  • Page 206
    ... powers of attorney or for making changes to instructions at www.audi.com/ annualgeneralmeeting. On this page, registered shareholders may also view the live broadcast of the Annual General Meeting up to the end of the general discussion. Communications relating to share dealings by management...

  • Page 207
    ... 87, Para. 1 of the German Stock Corporation Act [AktG]), is geared towards the sustainable development of the Company. 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 a majority of 99.70 percent...

  • Page 208
    ... termination of their activity, members of the Board of Management of AUDI AG are entitled to retirement pay and, for as long as this payment is made, to the use of company cars in return for payment of a fixed charge. The agreed benefits are paid out from the age of 63. This age limit is gradually...

  • Page 209
    CORPORATE GOVERNANCE REPORT REMUNERATION REPORT As of December 31, 2015, provisions for pensions pursuant to IAS 19 for current members of the Board of Management totaled EUR 26,684 (33,882) thousand. Allocations to the provisions including transfers totaled EUR 1,430 (16,287) thousand. The ...

  • Page 210
    ... - 202,438 Variable 1 Total 2015 - - 20,500 1,275...payment was not yet known at the time the Annual Financial Statements were concluded. 2) Member of the Presiding Committee and the Negotiating Committee 3) The employee representatives have stated that their remuneration as Supervisory Board members...

  • Page 211
    ... VOLKSWAGEN FINANCIAL SERVICES AG, Braunschweig Technical Development (with effect from January 1, 2016) Resigned from the Board of Management with effect from October 31, 2015: • Luca de Meo (48) Resigned from the Board of Management with effect from Dr. Dietmar Voggenreiter (46) Marketing and...

  • Page 212
    ...of the Works Council of AUDI AG, Neckarsulm plant Peter Kössler (56) Head of Engine Planning, AUDI AG, Ingolstadt plant Chairman of the Board of Management of AUDI HUNGARIA SERVICES Zrt., GyÅ'r, Hungar y Chairman of the Board of Directors AUDI HUNGARIA MOTOR Kft., GyÅ'r, Hungar y Dipl.-Wirtsch.-Ing...

  • Page 213
    ...äth (59) Member of the Works Council of AUDI AG, Ingolstadt plant Mandates: ƒ Audi BKK, Ingolstadt ƒ Volkswagen Pension Trust e.V., Wolfsburg Max Wäcker (61) Vice Chairman of the Works Council of AUDI AG, Ingolstadt plant Mandate: ƒ Audi BKK, Ingolstadt Sibylle Wankel (51) IG Metall trade union...

  • 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 ver y 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 2015 fiscal year // 222 Development of fixed assets in the 2014...

  • Page 216
    INCOME STATEMENT OF THE AUDI GROUP INCOME STATEMENT OF THE AUDI GROUP EUR million Notes 2015 2014 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 ...

  • Page 217
    ...other 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...

  • Page 218
    BALANCE SHEET OF THE AUDI GROUP BALANCE SHEET OF THE AUDI GROUP ASSETS in EUR million Notes Dec. 31, 2015 Dec. 31, 2014 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 2015 2014 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
    STATEMENT OF CHANGES IN EQUITY OF THE AUDI GROUP STATEMENT OF CHANGES IN EQUITY OF THE AUDI GROUP EUR million Subscribed capital Capital reserve Retained earnings Statutory reserve and other retained earnings Position as of Jan. 1, 2014 Profit after tax Other comprehensive income after tax Total ...

  • Page 221
    STATEMENT OF CHANGES IN EQUITY OF THE AUDI GROUP Other reserves Reserve for currency translation differences - 17 - 87 87 - - - 70 70 - 64 64 - - - 135 Reserve for cash flow hedges Reserve for fair Investments value measurement accounted for using of securities the equity method 12 - 21 21 - - - 32...

  • Page 222
    ... as licenses and customer bases Brand names Goodwill 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...

  • Page 223
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS DEVELOPMENT OF FIXED ASSETS IN THE 2015 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
    ... as licenses and customer bases Brand names Goodwill 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...

  • Page 225
    ... 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 226
    ...The purpose of the Company is the development, production and sale of motor vehicles, other vehicles and engines of all kinds, together with their accessories, as well as machiner y, tools and other technical articles. The Board of Management prepared the Consolidated Financial Statements on Februar...

  • Page 227
    ... changes to the lessor's balance sheet in comparison with IAS 17. Notes to the financial statements. No material impact Preparing a reconciliation statement for liabilities from financing activities, disclosure of information about liquidity constraints Recognition of deferred tax assets relating...

  • Page 228
    ... issue available to and assessed by the incumbent Board of Management of AUDI AG at the time of preparation of the financial statements, relating both to the four-cylinder TDI engine issue for which Volkswagen AG is accountable and to the V6 3.0 TDI engines of AUDI AG, as well as based on the status...

  • Page 229
    ... worth, financial position and financial performance and cash flow are not consolidated. Before consolidation, these subsidiaries account for 0.6 (0.8) percent of consolidated equity, 0.4 (0.4) percent of profit after tax, and 0.5 (0.6) percent of the Audi Group's total assets. Associated companies...

  • Page 230
    ... all shares in the HERE Group at a price of EUR 2,602 million via its fully owned subsidiar y, There Acquisition B.V., Rijswijk (Netherlands) with effect from December 4, 2015. HERE develops and distributes high-resolution maps with location-specific real-time information. The purchase price was...

  • Page 231
    ... companies belonging to the Audi Group are independent entities and prepare their financial statements in their local currency. Only AUDI HUNGARIA MOTOR Kft., GyÅ'r (Hungar y), AUDI HUNGARIA SERVICES Zrt., GyÅ'r (Hungar y), AUDI MÉXICO S.A. de C.V., San José Chiapa (Mexico), and AUDI VOLKSWAGEN...

  • Page 232
    ...asset, provided that the sale of these products is likely to bring economic benefit to the Audi Group. If the conditions stated in IAS 38 for capitalization are not met, the costs are expensed in the Income Statement in the year in which they occur. Capitalized development costs encompass all direct...

  • Page 233
    ... costs to sell of the respective cash generating units (brands and/or products). The calculation of value in use is based on current planning prepared by the management. This planning is based on expectations regarding the future development of the respective markets, market shares and profitability...

  • Page 234
    ... profit or loss. The Audi Group does not have any financial assets that fall into the categor y of "held-to-maturity investments." tized costs basically correspond to the nominal value or the repayment value. Fair value generally corresponds to the market value or trading price. If no active market...

  • Page 235
    ... 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 for the fair value measurement of securities, taking deferred tax into account. "Available-for-sale financial assets" are impaired...

  • Page 236
    ... of hedging relationships are categorized as "measured at fair value through profit or loss." Rights to acquire shares in companies, and the model for dealer hedging against potential losses from buy-back obligations for leased vehicles, are also reported in the Balance Sheet Deferrals amounting...

  • Page 237
    ... of fluctuations in value. The Audi Group is integrated into the financial management of / INVENTORIES Raw materials and supplies are measured at the lower of average cost of purchase or net realizable value. Other acquisitionrelated costs and cost reductions are taken into account as appropriate...

  • Page 238
    ...Balance Sheet at the present value of the leasing installments. Current liabilities are recognized at the repayment value or settlement amounts. / GOVERNMENT GRANTS Government grants related to assets are deducted from the cost of purchase or cost of goods sold and thus recognized in profit or loss...

  • Page 239
    ... be matched. Overall, as things currently stand, no major adjustment is expected in the carr ying amounts of assets and liabilities in the Consolidated Balance Sheet in the 2016 fiscal year. Management's estimates and assessments were based in particular on assumptions regarding the development of...

  • Page 240
    ...generated by the Audi and Lamborghini brands, revenue from the Automotive segment also includes revenue from the other brands in the Volkswagen Group. Revenue from other automotive business primarily includes the supply of parts sets to China, as well as proceeds from the sale of engines and genuine...

  • Page 241
    ... transactions Expenses from the processing of payments in foreign currency Expenses from the allocation and rebilling of costs Impairment losses on receivables Losses on disposal of assets Miscellaneous operating expenses Other operating expenses 2015 2,245 460 123 18 13 410 3,269 2014 503 189 76 14...

  • Page 242
    ... Group. The deferred taxes for companies in Germany are calculated at a rate of 29.8 (29.8) percent. The local income tax rates applied to foreign companies range from 0 percent to 39 percent. The effects arising as a result of tax-exempt foreign revenues and tax benefits on research and development...

  • Page 243
    ... MEASUREMENT DIFFERENCES RELATING TO INDIVIDUAL BALANCE SHEET ITEMS AND ON TAX LOSS CARRYFORWARDS EUR million Deferred tax assets Dec. 31, 2015 Intangible assets Property, plant and equipment Long-term financial investments Inventories Receivables and other assets Other current assets Provisions for...

  • Page 244
    ...000 97.78 2014 4,367 43,000,000 101.55 Basic earnings per share are calculated by dividing the share of profit due to AUDI AG shareholders by the weighted average number of shares in circulation during the fiscal year. 13 / ADDITIONAL DISCLOSURES ON FINANCIAL INSTRUMENTS IN THE INCOME STATEMENT 13...

  • Page 245
    ... 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 2015 - 18 18 2014 - 16 16 The impairment losses relate to financial assets, such...

  • Page 246
    ...which Motorcycles Goodwill of which Automotive of which Motorcycles Capitalized development costs of which products currently under construction of which products currently in use Payments on account for intangible assets Intangible assets Dec. 31, 2015 Dec. 31, 2014 351 414 10 404 378 88 290 4,642...

  • Page 247
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET Land and buildings are secured with mortgages totaling EUR 16 (16) million. There is no purchase option with regard to the land and buildings rented on the basis of a finance lease. The leases are based on an interest rate of up...

  • Page 248
    ... data in the Balance Sheet is based on the financial statements available at the time of the HERE Group being acquired in December 2015. EUR million FAW-Volkswagen Automotive Company, Ltd. Dec. 31, 2014 Volkswagen Group Services S.A./N.V. Volkswagen Automatic Transmission (Tianjin) Company Limited...

  • Page 249
    ...THE CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET EUR million FAW-Volkswagen Automotive Company, Ltd. 2014 Volkswagen Group Services S.A./N.V. Volkswagen Automatic Transmission (Tianjin) Company Limited 236 - 65 33 73 - 277 107 - 107 Net carrying amount as of Jan. 1 1) Profit after...

  • Page 250
    ... STATEMENTS NOTES TO THE BALANCE SHEET 19.2 / CURRENT OTHER FINANCIAL ASSETS EUR million Positive fair values from derivative financial instruments Fixed deposits and loans extended Miscellaneous financial assets Current other financial assets Dec. 31, 2015 341 839 1,177 2,357 Dec. 31, 2014...

  • Page 251
    ... amount of EUR 1,620 million by Volkswagen AG. Retained earnings comprise accumulated gains and the revaluations from pension plans. Other reserves include changes in value recognized with no effect on profit or loss relating to cash flow hedges, to the market values of securities and to interests...

  • Page 252
    ... THE CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 25.1 / NOTES TO THE BALANCE SHEET EUR million Audi of America, LLC Dec. 31, 2015 Non-current assets Current assets Non-current liabilities Current liabilities Non-controlling interests 387 3,357 621 2,665 458 Dec. 31, 2014 290 2,654...

  • Page 253
    ... reported under other financial liabilities, which largely refer to currency hedges, are measured at market value. The total item of currency hedging instruments is presented under Note 36, "Management of financial risks." 28.2 / CURRENT OTHER FINANCIAL LIABILITIES EUR million Negative fair values...

  • Page 254
    ... releases the Company from any other benefit obligations. Current contribution payments are reported as an expense for the year in question. In the case of the Audi Group, they totaled EUR 368 (341) million. Of this, contributions of EUR 343 (319) million were paid in Germany toward statutor...

  • Page 255
    ... in the Balance Sheet Dec. 31, 2015 1,724 1,291 432 3,788 - 4,221 Dec. 31, 2014 1,662 1,156 505 4,079 - 4,585 30.2 / PRESENT VALUE OF DEFINED BENEFIT OBLIGATIONS EUR million Present value as of Jan. 1 Service costs Interest expense Actuarial gains (-)/losses (+) following changes in demographic...

  • Page 256
    ... FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 30.3 / SENSITIVITY ANALYSES Present value of defined benefit pension obligation if EUR million Discount rate Remuneration trend Retirement benefit trend Life expectancy + 0.5 percentage points - 0.5 percentage points + 0.5 percentage points...

  • Page 257
    ... EUR million Market price in an active market Cash and cash equivalents Debt instruments Equity funds Pension funds Real estate funds Other funds Other Plan assets 36 1 158 965 23 16 - 1,199 Dec. 31, 2015 No market price in an active market - - - 92 - - - 92 Total Market price in an active market 43...

  • Page 258
    ... 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 259
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE BALANCE SHEET 31 / EFFECTIVE INCOME TAX OBLIGATIONS Effective income tax obligations consist primarily of tax liabilities to Volkswagen AG, Wolfsburg, under allocation plans. 32 / OTHER PROVISIONS EUR million Dec. 31, 2015 Total Of which due...

  • Page 260
    ...of capital management within the Audi Group is to ensure financial flexibility in order to achieve business and growth targets and to enable a 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...

  • Page 261
    ... on the corresponding markets and are acquired via ratings 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 cannot be observed on active markets; they are...

  • Page 262
    ... DEC. 31, 2015 EUR million Reconciliation of balance sheet items to classes of financial instruments Carrying amount as per Balance Sheet as of Dec. 31, 2015 Measured at fair value through profit or loss Available for sale Loans and receivables Other participations1) Other financial assets of which...

  • Page 263
    ... 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 relationships...

  • Page 264
    ... DEC. 31, 2014 EUR million Reconciliation of balance sheet items to classes of financial instruments Carrying 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 participations1) Other financial assets of which...

  • Page 265
    ... 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 relationships...

  • Page 266
    ... MEASURED AT COST EUR million Trade receivables Other financial assets Cash funds Fair values of financial assets measured at amortized cost Trade payables Financial liabilities Other financial liabilities Fair values of financial liabilities measured at amortized cost Dec. 31, 2015 4,097 2,345...

  • Page 267
    ..., the Volkswagen Executive Committee for Liquidity and Foreign Currency is regularly updated on the current financial risks. Further information can be found in the Management Report on page 169. 36.2 / CREDIT AND DEFAULT RISKS Credit and default risks from financial assets relate to a possible...

  • Page 268
    ... Volkswagen Group; it exclusively comprises "Receivables owing from customers of high creditworthiness." There are no past due financial instruments measured at fair value within the Audi Group. The fair values of these financial instruments are determined based on their market prices. In the 2015...

  • Page 269
    ... 2015 and 2014. Portfolio-based impairments are not used within the Audi Group. held in relation to trade receivables. Vehicles, bank guarantees and banker's bonds are the main forms of collateral provided. 36.3 / LIQUIDITY RISKS Liquidity risks arise from financial liabilities if current payment...

  • Page 270
    ... to EUR 321 (323) million. // HEDGING POLICY AND FINANCIAL DERIVATIVES The market risks to which the Audi Group is exposed include, in particular, currency, fund price, commodity price and interest rate risks. As part of the risk management process, these risks are limited by entering into hedging...

  • Page 271
    NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES These risks are limited by concluding appropriate hedges for matching amounts and maturities. The hedging transactions are performed centrally for the Audi Group by Volkswagen AG on the basis of an agency agreement. The results ...

  • Page 272
    ...on profit caused by market-related fluctuations in residual values are partly borne by the Audi Group. The hedging arrangements are based on residual value recommendations, as published by the residual value committee at the time of the contract being concluded, and on current dealer purchase values...

  • Page 273
    ... market risks to be quantified for the Audi Group: EUR million +10% Fund price risks Effects on equity with change in share prices Commodity price risks Effects on equity with change in commodity prices Effects on profit after tax with change in commodity prices Residual value risks of used cars...

  • Page 274
    ... mainly the consequence of the participation in There Holding B.V. and the HERE Group. 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 275
    ... 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, 2015 12,375 - 5,156 7,218 Dec. 31, 2014 11...

  • Page 276
    ... do not contain any change of control clauses in the event of a change in the ownership structure of AUDI AG or its subsidiaries. 41 / OTHER FINANCIAL OBLIGATIONS EUR million Within 1 year Purchase orders for property, plant and equipment Purchase orders for intangible assets Commitments from long...

  • Page 277
    ... FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES 44 / PERSONNEL COSTS EUR million Wages and salaries Social insurance and expenses for retirement benefits and support payments of which relating to retirement benefit plans of which defined contribution pension plans Personnel costs 2015 5,512...

  • Page 278
    ... is not anticipated. 46.2 / BUSINESS RELATIONS WITH SUBSIDIARIES AND ASSOCIATED COMPANIES OF THE AUDI GROUP EUR million Goods and services supplied to 2015 Associates and joint ventures Non-consolidated subsidiaries 7,504 51 2014 11,255 25 Goods and services received 2015 361 155 2014 207 138 EUR...

  • Page 279
    ...Volkswagen Group. All transactions are processed under market conditions. Members of the Boards of Management or Supervisor y Boards of Volkswagen AG, Wolfsburg, and AUDI AG also belong to the supervisor y or management boards of other companies with which the Audi Group maintains business relations...

  • Page 280
    ...of vehicles of the Audi and Lamborghini brands, and the distribution of vehicles of other Volkswagen Group brands as well as the accompanying accessories and spare parts business. The activities of the Motorcycles segment include the development, production, assembly and distribution of Ducati brand...

  • Page 281
    ... on sales of the Audi Group totaled 8.3 (9.6) percent. 48.2 / RECONCILIATION STATEMENT EUR million Segment revenue Consolidation Group revenue Segment profit (operating profit) Consolidation Operating profit Financial result Group profit before tax 2015 58,420 -1 58,420 4,836 - 4,836 448 5,284 2014...

  • Page 282
    ... THE CONSOLIDATED FINANCIAL STATEMENTS ADDITIONAL DISCLOSURES 48.4 / REVENUES BY SEGMENT EUR million Audi brand Lamborghini brand Other Volkswagen Group brands Other automotive business Automotive segment Ducati brand Other motorcycles business Motorcycles segment Reconciliation Revenue 2015 41,428...

  • Page 283
    .... The system of remuneration for the Supervisory Board and Board of Management is presented in the remuneration report, which is a part of the Combined Management Report of the Audi Group and AUDI AG. EVENTS OCCURRING SUBSEQUENT TO THE BALANCE SHEET DATE There were no events after December 31, 2015...

  • Page 284
    ... TO THE CONSOLIDATED FINANCIAL STATEMENTS MATERIAL GROUP COMPANIES MATERIAL GROUP COMPANIES Name and registered office Fully consolidated companies Germany AUDI AG, Ingolstadt Audi Electronics Venture GmbH, Gaimersheim Audi Immobilien GmbH & Co. KG, Ingolstadt Ducati Motor Deutschland GmbH, Cologne...

  • Page 285
    ... Financial Statements give a true and fair view of the net worth, financial position and financial performance 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 286
    ..., 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 Januar y 1 to December 31, 2015. The...

  • Page 287
    ... AND EMISSION FIGURES As at: January 2016 (All data apply to features of the German market.) Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) Efficiency class Audi A1 A1 1.0 TFSI A1 1.0 TFSI A1 1.0 TFSI...

  • Page 288
    FUEL CONSUMPTION AND EMISSION FIGURES Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban 3.4 ... 6.9 3.8 4.1 3.8 4.1 CO2 emissions (g/km) Efficiency class A1 Sportback 1.6 TDI A1 Sportback 1.6 TDI Audi TT Coupé TT Coupé 1.8 TFSI TT Coupé...

  • Page 289
    FUEL CONSUMPTION AND EMISSION FIGURES Model Wheels (inches) Power output (kW) Transmission ...gas Premium Natural gas Premium Natural gas Premium Natural gas Premium Premium Premium Premium Premium Electricity Premium Electricity Super Plus Super Plus Super Plus Super Plus Super Plus Super Plus...

  • Page 290
    FUEL CONSUMPTION AND EMISSION FIGURES Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) Efficiency class Audi A3 Sedan A3 Sedan 1.4 TFSI A3 Sedan 1.4 TFSI A3 Sedan 1.4 TFSI A3 Sedan 1.4 TFSI A3 Sedan 1.4 ...

  • Page 291
    ...) Efficiency class A3 Cabriolet 2.0 TDI quattro A3 Cabriolet 2.0 TDI quattro Audi A4 Sedan A4 Sedan 1.4 TFSI A4 Sedan 1.4 TFSI A4 Sedan 1.4 TFSI A4 Sedan 1.4 TFSI A4 Sedan 2.0 TFSI ultra A4 Sedan 2.0 TFSI ultra A4 Sedan 2.0 TFSI ultra A4 Sedan 2.0 TFSI ultra A4 Sedan 2.0 TFSI A4 Sedan 2.0 TFSI A4...

  • Page 292
    ... Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban 3.6 3.7 3.9 4.1 3.5 3.6 3.8 4.1 4.1 4.4 4.1 4.5 4.4 4.8 4.8 5.1 combined 4.0 4.1 4.4 4.6 4.0 4.1 4.2 4.4 4.5 4.7 4.4 4.6 4.7 4.9 5.1 5.4 CO2 emissions (g/km) Efficiency class A4 Avant...

  • Page 293
    FUEL CONSUMPTION AND EMISSION FIGURES Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) Efficiency class Audi A5 Coupé A5 Coupé 1.8 TFSI A5 Coupé 1.8 TFSI A5 Coupé 1.8 TFSI A5 Coupé 1.8 TFSI A5 Coupé ...

  • Page 294
    ... Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) Efficiency class Audi A6 Sedan A6 Sedan 1.8 TFSI A6 Sedan 1.8 TFSI A6 Sedan 1.8 TFSI ultra A6 Sedan 1.8 TFSI ultra A6 Sedan 2.0 TFSI A6 Sedan 2.0 TFSI A6...

  • Page 295
    ...Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban 4.3 4.5 4.8 5.0 4.8 5.0 5.5 5.7 5.5 5.7 combined 4.5 4.6 5.1 5.3 5.3 5.4 6.2 6.4 6.2 6.4 CO2 emissions (g/km) Efficiency class A6 Avant 3.0 TDI A6 Avant 3.0 TDI A6 Avant 3.0 TDI quattro A6...

  • Page 296
    FUEL CONSUMPTION AND EMISSION FIGURES Model Wheels (inches) Power output (kW) Transmission Fuel Fuel consumption (l/100 km) urban extra urban combined CO2 emissions (g/km) Efficiency class Audi Q2 8) Audi Q3 Q3 1.4 TFSI COD ultra Q3 1.4 TFSI COD ultra Q3 1.4 TFSI COD Q3 1.4 TFSI COD Q3 2.0 ...

  • Page 297
    ... market. It does not yet have Whole Vehicle Type Approval and is therefore not subject to Directive 1999/94/EC. 9) Wheel: 17" all season 10) Tire brand: Michelin 11) Order code: H0Q Further information on official fuel consumption figures and the official specific CO2 emissions of new passenger cars...

  • Page 298
    ...Production Automotive segment Motorcycles segment Cars Engines Motorcycles 926,180 1,895,695 - 980,880 1,915,633 - 1,029,041 1,901,760 - 2007 2008 Deliveries to customers Automotive segment Audi brand 4) Lamborghini brand Other Volkswagen Group brands Motorcycles segment Ducati brand Cars Cars Cars...

  • Page 299
    ... intangible assets (without capitalized development costs) according to Cash Flow Statement in relation to revenue 10) Year-end price on Munich Stock Exchange 11) In accordance with the resolution to be passed by the Annual General Meeting of Volkswagen AG, Wolfsburg, for the financial year 2015...

  • Page 300