AUDI AG for the Fiscal Year from January 1 to December 31, 2018

Total Page:16

File Type:pdf, Size:1020Kb

AUDI AG for the Fiscal Year from January 1 to December 31, 2018 2018 Annual Report e-valuation Production of China electric vehicles EUR 25 trillion 6,843,000 and plug-in hybrids through 2021 Worldwide investments (overall market in sustainable assets forecast) 2016 USA 3,058,000 Germany 2014 2,247,000 2012 Audi 2018 Annual Report Audi Group Key Figures 2018 2017¹) Change in % Production Automotive segment Cars ²) 1,871,386 1,879,840 –0.4 Engines 1,955,532 1,966,434 –0.6 Motorcycles segment Motorcycles 53,320 56,743 –6.0 Deliveries to customers Automotive segment Cars 2,081,418 2,105,084 –1.1 Audi brand ³) Cars 1,812,485 1,878,105 –3.5 Lamborghini brand Cars 5,750 3,815 50.7 Other Volkswagen Group brands Cars 263,183 223,164 17.9 Motorcycles segment Motorcycles 53,004 55,871 –5.1 Ducati brand Motorcycles 53,004 55,871 –5.1 Workforce Average 91,477 90,402 1.2 Revenue EUR million 59,248 59,789 –0.9 Operating profit before special items EUR million 4,705 5,058 –7.0 Operating profit EUR million 3,529 4,671 –24.4 Profit before tax EUR million 4,361 4,717 –7.5 Profit after tax EUR million 3,463 3,432 0.9 Operating return on sales before special items Percent 7.9 8.5 Operating return on sales Percent 6.0 7.8 Return on sales before tax Percent 7.4 7.9 Return on investment (ROI) Percent 10.0 14.4 Ratio of capex ⁴) Percent 5.9 6.5 Research and development ratio Percent 7.1 6.4 Cash flow from operating activities EUR million 7,013 6,173 13.6 Net cash flow ⁵) EUR million 2,141 4,312 –50.4 Balance sheet total (Dec. 31) EUR million 65,598 63,680 3.0 Equity ratio (Dec. 31) Percent 45.3 44.2 1) Some of the prior-year financial key figures have been adjusted to reflect the first-time adoption of IFRS 9 and IFRS 15 (see also the comments regarding IFRS 9 and IFRS 15 in the Notes to the Consolidated Financial Statements). 2) Including vehicles built locally by the associated company FAW-Volkswagen Automotive Company, Ltd., Changchun (China) 3) Including delivered vehicles built locally by the associated company FAW-Volkswagen Automotive Company, Ltd., Changchun (China) 4) 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 5) Taking into account the transfer of the minority interest in Volkswagen International Belgium S.A., Brussels (Belgium), to Volkswagen AG, Wolfsburg, in 2017 2 8 83 084 Report of the Supervisory Board 089 Finances 089 Combined Management Report of the Audi Group and AUDI AG for the fiscal year from January 1 to December 31, 2018 173 Consolidated Financial Statements of the Audi Group for the fiscal year from January 1 to December 31, 2018 INFORMATION All figures are rounded off, which may lead to minor deviations when added up. The figures in brackets refer to the figures for the previous year. Internet sources refer to the status as of February 20, 2019. The Management Report contains forward-looking statements relating to anticipated developments. These statements are based upon current assessments and are by their very nature subject to risks and uncertainties. Actual outcomes may differ from those predicted in these statements. Dr.-Ing. Herbert Diess Chairman of the Supervisory Board 084 2018 was a year of major challenges and new departures for the Audi Group. In the second half of the year in particular, the switch to the new WLTP test cycle resulted in a restricted sales range. On top of this was the political debate about banning the use of diesel vehicles, along with a downturn in important passenger car markets. Financial burdens arose from a fine imposed under the administrative order by the Munich II pub- lic prosecutors in connection with the diesel crisis. When Chairman of the Board of Management Rupert Stadler was accused and taken into custody on June 18, 2018, this came as a shock to the entire Audi and Volkswagen family. The active commitment of everyone at Audi was especially im- portant in 2018. The Supervisory Board would particularly like to thank all employees of the Audi Group for this. I am con- vinced of the potential of the brand with the Four Rings. With its capabilities and spirit, the Audi team will rise to the forth- coming challenges. Every effort must be made to achieve this. The Supervisory Board is supporting the Board of Management with the repositioning of Audi. It is careful to ensure that the lessons learned in the past are firmly anchored in the corpo- rate culture and strategy. The new Chairman and his manage- ment team will define and substantiate the action areas, goals and approach in the corporate strategy in time for the Audi 2019 Annual General Meeting. The Supervisory Board was newly elected in 2018. The Supervisory Board was newly constituted last year. With effect from the close of the Annual General Meeting on May 9, 2018, Senator h. c. Helmut Aurenz, Berthold Huber and Max Wäcker left the Supervisory Board. The Supervisory Board and Board of Management have always appreciated their construc- tive advice and critical questions. The Supervisory Board would like to express its deep gratitude to these former members in acknowledgment of the work they performed. At its constituent meeting on May 9, 2018, the Supervisory Board elected me as its Chairman and Peter Mosch as Vice Chairman. The Negotiating Committee, the Presiding Commit- tee, the Audit Committee and the “Diesel” Committee were also elected. The Presiding Committee as well as all other committees were also constituted and commenced work. The Board of Management gave regular, up-to-date, compre- hensive accounts of its actions to the Supervisory Board. The Supervisory Board considered the economic framework and the Company’s business development and policy as well as its 085 risk management and risk situation at ordinary meetings of the Supervisory Board convened each quarter, as well as on the basis of regular oral and written reports from the Board of Management, and consulted with the Board of Management closely on these matters. At its four ordinary meetings in 2018, the Supervisory Board also considered at length the opportunities and risks for Audi in key markets, in particular China, the United States and European markets. In that connection it explored subject ar- eas such as how to assure a sustainable return and the WLTP test cycle. The Supervisory Board also held discussions with the Board of Management on progress with the digitalization and electrification of vehicles. It approved a new remuneration system for the members of the Board of Management and, together with the Board of Management, routinely determined the content of the Declaration of Conformity pursuant to Section 161 of the German Stock Corporation Act (AktG). In agreeing to the plans for human resources, financial and investment planning, the Supervisory Board once again con- firmed the Board of Management’s strategic decisions. The diesel issue, in particular concerning the V6 3.0 TDI en- gine, as well as human resources decisions in addition account- ed for a significant portion of the Supervisory Board’s work in the year under review. The Supervisory Board was kept con- stantly informed of the diesel issue by the Board of Manage- ment in the past fiscal year, both in writing and orally. In this connection the Supervisory Board held six extraordinary meet- ings in the past fiscal year. In addition to its four ordinary meetings, the Presiding Committee of the Supervisory Board held five extraordinary meetings in 2018. All Supervisory Board members were present at more than half of the meetings. The average attendance rate in the past fiscal year was 94.1 percent. The Negotiating Committee did not need to be convened in 2018. The “Diesel” Committee oversees and supports the Board of Management in its investigation and reappraisal of events related to diesel issues. It also prepares the Supervisory Board’s consultations and resolutions on diesel issues. The “Diesel” Committee came together for four meetings in the 2018 fiscal year. 086 The Audit Committee met once per quarter in the past fiscal year and devoted its attention mainly to risk management as well as compliance and auditing work. In addition, the Audit Committee concerned itself with the 2018 Interim Financial Report prior to its publication and the preparatory work for the 2018 Annual Financial Statements. It also advised on the independence of the auditor, the findings of additional audits commissioned and the situation of the Company at the end of 2018. It passed the necessary resolutions for putting the auditing of the Annual Financial Statements out to tender. “I am convinced of the potential of the brand with the Four Rings. With its capabilities and spirit, the Audi team will rise to the forthcoming challenges.” Upon the proposal of the Supervisory Board, the Annual General Meeting of AUDI AG appointed PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft as audi- tor of the accounts for the 2018 fiscal year. The auditor of the accounts confirmed the Annual Financial Statements of AUDI AG, the Consolidated Financial Statements of the Audi Group as well as the Combined Management Report of the Audi Group and AUDI AG for the 2018 fiscal year, and in each case issued its unqualified certification with an additional note. The auditing firm’s representatives explained the key findings of their audit in detail at the meetings of the Audit Committee and Supervisory Board. According to information supplied by the auditing firm, there were no circumstances that might give cause for concern about the auditor’s partiality.
Recommended publications
  • Cartella Stampa Autostadt
    Scheda informativa: l’Autostadt di Wolfsburg La prima piattaforma di servizi e comunicazione di questo genere al mondo rappresenta il Gruppo Volkswagen, i suoi valori, la sua competenza e i suoi servizi. Motto Persone, veicoli e ciò che li muove Apertura 1 giugno 2000 Area 28 ettari di parco e paesaggio lagunare Costi di costruzione 430 milioni di Euro Società controllata al 100% dal Gruppo Volkswagen Apertura 363 giorni all'anno Internet www.autostadt.de Attrazioni GroupForum Esposizioni e presentazioni incentrate sul design automobilistico, LEVEL GREEN – Il concetto di sostenibilità, patente di guida per bambini Otto padiglioni delle diverse marche Volkswagen, Audi, Lamborghini, SEAT, ŠKODA , Volkswagen Veicoli Commerciali e Premium Clubhouse in cui si alternano le Marche che rappresentano il segmento di lusso del Gruppo Volkswagen, attualmente Bugatti. Da giugno 2012 padiglione Porsche CustomerCenter È il centro di consegna più grande al mondo . Ogni giorno, circa 500 Clienti ritirano qui le vetture nuove della marca Volkswagen (175.893 vetture nuove consegna te nel 2011) CarTowers Due torri in vetro da 48 metri, ciascuna delle quali in grado di accogliere fino a 400 vetture nuove ZeitHaus Circa 200 auto d’ epoca di oltre 50 Case automobilistiche sono esposte nel museo dell’automobile più visitato al mondo Ritz-Carlton Hotel a cinque stelle superior, “Hotel dell’ anno 2009” (“Feinschmecker” rivista enogastronomica) Ristoranti 13 ristoranti, di cui 9 gestiti da Mövenpick. Vincitori di numerosi premi, tra cui “Bio- Stern”; due ristoranti
    [Show full text]
  • The Disneyland for Cars
    interview The Disneyland for Cars An Interview with Otto Ferdinand Wachs, Chief Executive Officer, Autostadt GmbH, Wolfsburg, Germany Prior to assuming his present post in The Autostadt is a marketing tool 1999, Wachs was responsible for Volkswa- through which we try to communicate gen’s participation at the World Exposi- Volkswagen’s values to the public. We try tion and served as project head for the to appeal to various age groups, as well as Autostadt. Before that time, he was head a broad range of other target groups, and of public relations for the VW Group, it starts with schoolchildren. In June 2003 manager of the office of former VW CEO we opened an automotive-mobility school Dr. Carl H. Hahn, and provisional head to teach young children from northern of the company’s international press, Germany the answers to traffic, safety, and prior to which he worked for 12 months environmental questions. Ultimately, we in the United States and Canada. The hope to keep in touch with this young recipient of an M.B.A. from the University group so that they remain in contact with of Hamburg, Wachs began his association the brand. Meanwhile, for adults the with Volkswagen as an intern in 1983. Autostadt provides insight into our opera- tions. Adults can visit our factory, for COMPANY BRIEF Headquartered in example, and during their visits we’re able Wolfsburg, Germany, and launched in to build a dialogue and create good rela- Otto Ferdinand Wachs June 2000, Autostadt GmbH is a theme tionships with them. Of course, as many park that comprises more than 40 acres, of them are in the process of deciding on EDITORS’ NOTE In 1995, when Otto Ferdi- employs more than 2,000 people, and a new car, we try to plant the idea in their nand Wachs talked to Dr.
    [Show full text]
  • Separate Financial Statements Fiscal Year 2019
    201Separate financial9 statements PPorscheorsche TaycanTaycan TurboTurbo S 3 Content Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results of operations, financial position and net assets 31 Porsche Automobil Holding SE (financial statements pursuant to the German Commercial Code) 37 Sustainable value enhancement in the Porsche SE Group 41 Overall statement on the economic situation of Porsche SE and the Porsche SE Group 43 Remuneration report 44 Opportunities and risks of future development 52 Publication of the declaration of compliance and corporate governance report 78 Subsequent events 79 Forecast report and outlook 80 Glossary 85 4 Financials 86 Balance sheet of Porsche Automobil Holding SE 90 Income statement of Porsche Automobil Holding SE 91 Notes to the consolidated fi nancial statements 92 Independent auditor’s report 212 Responsibility statement 220 5 VVolkswagenolkswagen IID.3D.3 6 1 Group management report and management report of Porsche Automobil Holding SE 7 8 Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results
    [Show full text]
  • Annual Financial Statements of Volkswagen AG 1
    Balance Sheet Annual Financial Statements of Volkswagen AG 1 Annual Financial Statements of Volkswagen AG Balance Sheet of Volkswagen AG as of December 31, 2018 € million Note Dec. 31, 2018 Dec. 31, 2017 Assets Fixed assets Intangible assets 1 230 269 Tangible assets 1 6,731 6,972 Long-term financial assets 1 112,752 106,462 119,713 113,703 Current assets Inventories 2 5,140 4,889 Receivables and other assets 3 36,895 32,192 Cash-in-hand and bank balances 4 14,595 5,798 56,630 42,880 Prepaid expenses 70 111 Total assets 176,412 156,693 Equity and Liabilities Equity Subscribed capital 5 1,283 1,283 Ordinary shares 755 755 Preferred shares 528 528 Contingent capital - - Capital reserve 6 15,021 15,021 Revenue reserves 7 14,367 11,953 Net retained profits 2,419 2,181 33,090 30,438 Special tax-allowable reserves 8 19 21 Provisions 9 39,870 39,930 Liabilities 10 102,308 85,064 Deferred income 11 1,126 1,240 Total equity and liabilities 176,412 156,693 2 Annual Financial Statements of Volkswagen AG Income Statement Income Statement of Volkswagen AG for the Period January 1 to December 31, 2018 € million Note 2018 2017 Sales 12 78,001 76,729 Cost of sales – 72,700 – 73,355 Gross profit on sales 5,301 3,375 Distribution expenses – 5,760 – 5,677 General and administrative expenses – 1,865 – 1,426 Other operating income 13 5,673 6,451 Other operating expenses 14 – 6,089 – 6,605 Financial result 15 8,264 8,644 Write-downs of long-term financial assets and securities classified as current assets - 0 Taxes on income – 907 – 409 Earnings after taxes 4,620 4,353 Net income / loss for the year 4,620 4,353 Notes to the annual financial statements Annual Financial Statements of Volkswagen AG 3 Notes to the Annual Financial Statements of Volkswagen AG for the Period ended December 31, 2018 Financial statements in accordance with the German Commercial Code Volkswagen AG is domiciled in Wolfsburg, Germany, and entered in the commercial register at the Braun- schweig Local Court under no.
    [Show full text]
  • Volkswagen Aktiengesellschaft Wolfsburg, Germany As Issuer And
    Dated 30 September 2010 This document constitutes four base prospectuses for the purposes of Article 5.4 of Directive 2003/71/EC: (i) the base prospectus of Volkswagen Aktiengesellschaft in respect of non-equity securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004 ("Non-Equity Securities"), (ii) the base prospectus of Volkswagen International Finance N.V. in respect of Non-Equity Securities, (iii) the base prospectus of VW Credit, Inc. in respect of Non- Equity Securities and (iv) the base prospectus of VW Credit Canada Inc./Crédit VW Canada, Inc. in respect of Non-Equity Securities (together, the "Debt Issuance Programme Prospectus" or the "Prospectus"). Volkswagen Aktiengesellschaft Wolfsburg, Germany as Issuer and as Guarantor for Notes issued by Volkswagen International Finance N.V. Amsterdam, The Netherlands VW Credit, Inc. Herndon, Virginia, USA (incorporated in Delaware) VW Credit Canada, Inc. / Crédit VW Canada, Inc. St.-Laurent, Québec, Canada € 25,000,000,000 Debt Issuance Programme Arranger Deutsche Bank Dealers Barclays Capital BayernLB BNP PARIBAS Crédit Agricole CIB Citi Commerzbank Deutsche Bank DZ BANK AG HSBC Landesbank Baden- ING Commercial Banking J.P. Morgan Württemberg Société Générale SEB Corporate & Investment The Royal Bank of Scotland Banking Application has been made to the Commission de Surveillance du Secteur Financier of the Grand Duchy of Luxembourg (the "Commission"), which is the Luxembourg competent authority for the purpose of Directive 2003/71/EC (the "Prospectus Directive"), for the approval of this Prospectus. Application has been made to the Luxembourg Stock Exchange for notes ("Notes") issued under this Prospectus to be admitted to trading on the regulated market of the Luxembourg Stock Exchange (as defined below) and to be listed on the official list of the Luxembourg Stock Exchange.
    [Show full text]
  • The Vfl Wolfsburg Sustainability Report 2016
    GEMEINSAM BEWEGEN THE VFL WOLFSBURG SUSTAINABILITY REPORT 2016 WWW.VFL-WOLFSBURG.DE MOVING TOGEHTER 4 | CONCENTRATING ON WHAT IS CRUCIAL ABOUT THIS REPORT VfL Wolfsburg is traditionally very closely connected with soci- ment and the Lord Mayor of Wolfsburg are then followed by a ety, and in the same way as classic industrial companies, is also portrait of VfL Wolfsburg. The subsequent chapters in the re- responsible with respect to society (Corporate Social Respon- port focus on the club’s main CSR spheres of action: “Strategy sibility, CSR). The club is very aware of its responsibility for the and Management”, “Employees”, “Environment” and “Society”, consequences of its actions on people and the environment, as well as “Fans and Members”. and has therefore strongly anchored its commitment to CSR in its corporate philosophy. It wants to be seen as a responsible Within each chapter, the report presents how VfL strategi- player nationally and internationally, and to therefore occupy a cally tackles the main topics, the measures it implements to leading position in professional football. The central commu- achieve its targets, and the metrics it uses to control progress. nication instrument for this purpose is its sustainability or CSR VfL Wolfsburg collects those metrics which help improve its report. This is addressed in particular at fans, employees, part- measures in the football business. These are therefore differ- ners and VfL sponsors, as well as Volkswagen AG. Moreover, it ent in some cases to the metrics presented by classic business- is also aimed at non-governmental organisations and associa- es. Each chapter also includes an overview of the special mile- tions representing specific interests, as well as representatives stones achieved during the reporting period; and an outlook of politics, science and research.
    [Show full text]
  • A Decision to Make Your Whole World Move 2
    EVENTS, MEETINGS, CONFERENCES AND INCENTIVE TRAVEL AT THE AUTOSTADT A DECISION TO MAKE YOUR WHOLE WORLD MOVE 2 YO U R CONFERENCE: SUCCESSFUL FROM THE START From low-key conferences to large events for up to 1,000 people, you’ll find the ideal setting at the Autostadt in Wolfsburg. We set everything in motion for you. It all starts with a personal assistant who will do everything to make your wishes come true – and go the extra mile to ensure you achieve your goals. 3 4 4 5 LET YOURSELF BE INFINITELY INSPIRED BY SOMETHING NEW The Autostadt in Wolfsburg is a magnet for ideas. This is where visitors experience mobility in many different ways: fascinating brand worlds, interactive exhibitions, exciting driving experiences and seasonal programmes. All this makes the Autostadt an ideal location for memorable events, meetings, conferences and incentive travel. WHERE INNOVATION IS PART OF THE PROGRAMME Discover what drives us today – and tomorrow. The world’s largest new car delivery centre is where you can discover the future of mobility and learn about the importance of eco-sustainability and the role played by electric and hybrid models. 6 LOOK FORWARD TO SPECIAL PLACES AMAZING ART IN IMPRESSIVE DIMENSIONS: THE PIAZZA The Piazza welcomes you with true grandeur. This central meeting place in the Autostadt has a special character with its 19-metre-high revolving glass doors that are open in summer. A real eye-catcher is the 12-metre aluminium globe floating in the air above the visitors – who on special request could very well be your guests.
    [Show full text]
  • Volkswagen AG Annual Report 2009
    Driving ideas. !..5!,2%0/24 Key Figures MFCBJN8><E>IFLG )''0 )''/ Mfcld\;XkX( M\_`Zc\jXc\jle`kj -#*'0#.+* -#).(#.)+ "'%- Gif[lZk`fele`kj -#',+#/)0 -#*+-#,(, Æ+%- <dgcfp\\jXk;\Z%*( *-/#,'' *-0#0)/ Æ'%+ )''0 )''/ =`eXeZ`Xc;XkX@=IJj #d`cc`fe JXc\ji\m\el\ (',#(/. ((*#/'/ Æ.%- Fg\iXk`e^gif]`k (#/,, -#*** Æ.'%. Gif]`kY\]fi\kXo (#)-( -#-'/ Æ/'%0 Gif]`kX]k\ikXo 0(( +#-// Æ/'%- Gif]`kXkki`YlkXYc\kfj_Xi\_fc[\ijf]MfcbjnX^\e8> 0-' +#.,* Æ.0%/ :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j)()#.+( )#.') o :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)('#+)/ ((#-(* Æ('%) 8lkfdfk`m\;`m`j`fe* <9@K;8+ /#'', ()#('/ Æ**%0 :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j) ()#/(, /#/'' "+,%- :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)#,('#),) ((#+.0 Æ('%. f]n_`Z_1`em\jkd\ekj`egifg\ikp#gcXekXe[\hl`gd\ek),#./* -#..* Æ(+%- XjXg\iZ\ekX^\f]jXc\ji\m\el\ -%) -%- ZXg`kXc`q\[[\m\cfgd\ekZfjkj (#0+/ )#)(- Æ()%( XjXg\iZ\ekX^\f]jXc\ji\m\el\ )%( )%) E\kZXj_]cfn )#,-* Æ)#-.0 o E\kc`hl`[`kpXk;\Z%*( ('#-*- /#'*0 "*)%* )''0 )''/ I\klieiXk`fj`e I\kliefejXc\jY\]fi\kXo (%) ,%/ I\kliefe`em\jkd\ekX]k\ikXo8lkfdfk`m\;`m`j`fe *%/ ('%0 I\kliefe\hl`kpY\]fi\kXo=`eXeZ`XcJ\im`Z\j;`m`j`fe -.%0 ()%( ( @eZcl[`e^mfcld\[XkX]fik_\m\_`Zc\$gif[lZk`fe`em\jkd\ekjJ_Xe^_X`$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[% Xe[=8N$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[%#n_`Z_Xi\XZZflek\[]filj`e^k_\\hl`kpd\k_f[% ) )''/X[aljk\[% * @eZcl[`e^XccfZXk`fef]Zfejfc`[Xk`feX[aljkd\ekjY\kn\\ek_\8lkfdfk`m\Xe[=`eXeZ`XcJ\im`Z\j[`m`j`fej% + Fg\iXk`e^gif]`kgclje\k[\gi\Z`Xk`fe&Xdfik`qXk`feXe[`dgX`id\ekcfjj\j&i\m\ijXcjf]`dgX`id\ekcfjj\jfegifg\ikp#gcXekXe[\hl`gd\ek# ZXg`kXc`q\[[\m\cfgd\ekZfjkj#c\Xj`e^Xe[i\ekXcXjj\kj#^ff[n`ccXe[]`eXeZ`XcXjj\kjXji\gfik\[`ek_\ZXj_]cfnjkXk\d\ek% , <oZcl[`e^XZhl`j`k`feXe[[`jgfjXcf]\hl`kp`em\jkd\ekj1Ñ.#,/,d`cc`feÑ/#/.0d`cc`fe % - Gif]`kY\]fi\kXoXjXg\iZ\ekX^\f]Xm\iX^\\hl`kp% .
    [Show full text]
  • Download PDF, 19 Pages, 505.25 KB
    VOLKSWAGEN AKTIENGESELLSCHAFT Shareholdings of Volkswagen AG and the Volkswagen Group in accordance with sections 285 and 313 of the HGB and presentation of the companies included in Volkswagen's consolidated financial statements in accordance with IFRS 12 as of 31.12.2019 Exchange rate VW AG 's interest Equity Profit/loss (1€ =) in capital in % in thousands, in thousands, Name and domicile of company Currency Dec. 31, 2019 Direct Indirect Total local currency local currency Footnote Year I. PARENT COMPANY VOLKSWAGEN AG, Wolfsburg II. SUBSIDIARIES A. Consolidated companies 1. Germany ASB Autohaus Berlin GmbH, Berlin EUR - 100.00 100.00 16,272 1,415 2018 AUDI AG, Ingolstadt EUR 99.64 - 99.64 13,701,699 - 1) 2019 Audi Berlin GmbH, Berlin EUR - 100.00 100.00 9,971 - 1) 2018 Audi Electronics Venture GmbH, Gaimersheim EUR - 100.00 100.00 60,968 - 1) 2019 Audi Frankfurt GmbH, Frankfurt am Main EUR - 100.00 100.00 8,477 - 1) 2018 Audi Hamburg GmbH, Hamburg EUR - 100.00 100.00 13,425 - 1) 2018 Audi Hannover GmbH, Hanover EUR - 100.00 100.00 16,621 - 1) 2018 AUDI Immobilien GmbH & Co. KG, Ingolstadt EUR - 100.00 100.00 82,470 3,399 2019 AUDI Immobilien Verwaltung GmbH, Ingolstadt EUR - 100.00 100.00 114,355 1,553 2019 Audi Leipzig GmbH, Leipzig EUR - 100.00 100.00 9,525 - 1) 2018 Audi München GmbH, Munich EUR - 100.00 100.00 270 - 1) 2018 Audi Real Estate GmbH, Ingolstadt EUR - 100.00 100.00 9,859 4,073 2019 Audi Sport GmbH, Neckarsulm EUR - 100.00 100.00 100 - 1) 2019 Audi Stuttgart GmbH, Stuttgart EUR - 100.00 100.00 6,677 - 1) 2018 Auto & Service PIA GmbH, Munich EUR - 100.00 100.00 19,895 - 1) 2018 Autonomous Intelligent Driving GmbH, Munich EUR - 100.00 100.00 250 - 1) 2018 Autostadt GmbH, Wolfsburg EUR 100.00 - 100.00 50 - 1) 2018 B.
    [Show full text]
  • Porsche Automobil Holding SE Company Accounts 2008/2009
    Porsche Automobil Holding SE company accounts 2008/09 4 Group management report and management report of Porsche Automobil Holding SE 80 Balance Sheet 81 Income statement 82 Notes 102 Audit Opinion 103 Company Boards 105 Membership in other statutory supervisory boards and comparable domestic and foreign control bodies Group management report and management report of Porsche Automobil Holding SE Recent developments Michael Macht and Thomas Edig's appointment to the helm of Porsche AG marks the beginning of a new era for the Stuttgart-based automobile manufacturer. Michael Macht, who for many years served as head of pro- duction and logistics, has been made a member of the executive board of Porsche SE, and CEO of Porsche AG. Thomas Edig has been made board member at Porsche SE and Mr. Macht’s deputy at Porsche AG, where he is also responsible for HR and social issues and functions as labor director. Macht’s successor as head of production is Wolfgang Leimgruber, who was previously responsible for the body shell and paint shops. At Porsche SE, Michael Macht is responsible for technology and products, while Tho- mas Edig heads the commercial and administrative side. On 23 July 2009, the supervisory board of Porsche Automobil Holding SE (“Porsche SE”) reached an agreement on the departure of the long-term executive board members Dr. Wendelin Wiedeking and Holger P. Härter. Both men also resigned from their posts on the supervisory boards of Volkswagen AG and AUDI AG. Prof. Dr. Martin Winterkorn will be made the new CEO of Porsche SE fol- lowing the approval of the supervisory boards of Porsche SE and Volks- wagen AG.
    [Show full text]
  • The New Golf Celebrates Its World Premiere
    ALL ABOUT VOLKSWAGEN – THE EMPLOYEE MAGAZINE FOR OUR LOCATION | OCTOBER 2019 360WOLFSBURG° ID.31 – Series Ready for Launch The countdown is on: Series production of the ID.3, the first fully electric Volkswagen from the new ID. family, will begin at the Zwickau plant in early November. The conversions are running on schedule, with employees now assembling the last few robots. Some 8,000 members of staff have been working for months at the Saxony location to get ready to meet the electric age. This has seen them involved in measures such as high-voltage training courses to learn how to handle battery systems safely. → PAGE 21 The New Golf Celebrates Its World Premiere Comic Series Presentation in Wolfsburg: eighth generation even more digital and networked than ever before on Integrity 13 short stories clarify behavioral anchors in an easy-to-understand way. → PAGE 11 f any car can be other model has shaped called a bestseller, it’s our brand quite so power- I certainly the Golf. fully and permanently over Developed and honed the decades. It is synony- from generation to gen- mous with the Volkswagen eration, it has become name and everything a global constant. The Volkswagen stands for Volkswagen brand now around the world.” celebrates the world More than 35 million China: V-Space premiere of the eighth Ralf Brandstätter, Golf models have rolled generation Golf on the Chief Operating o the production line Opens evening of October 24. Officer (COO) over the past 45 years. The V-Space has now launched in The new Golf will be and Member of strengths of the Golf – and Beijing as the new headquarters of the Board at showcased in the Hafen what has made it a world- Volkswagen Group China.
    [Show full text]
  • Corporate Governance
    Corporate Governance In accordance with the requirements of the German Corporate Governance Code, the Board of Management of the Volkswagen Group ensures that the statutory require- ments and the Company’s internal policies GOVERNANCE CORPORATE are complied with and respected through- out the Group. Our compliance activities are based on a Group-wide strategy that embraces a preventive approach. THE VOLKSWAGEN GROUP’S PREVENTIVE APPROACH TO COMPLIANCE Safeguarding the Company COMPLIANCE Safeguarding employees Safeguarding governing bodies CORPORATE GOVERNANCE 135 Corporate Governance Report (Part of the Management Report) 139 Remuneration Report (Part of the Management Report) 143 Structure and Business Activities (Part of the Management Report) 147 Executive Bodies (Part of the Notes to the Consolidated Financial Statements) CORPORATE GOVERNANCE 135 Corporate Governance Report Remuneration Report Structure and Business Activities Executive Bodies Corporate Governance Report (Part of the Management Report) Responsible, transparent and value-enhancing corporate governance How successful we are at continually increasing our Company’s value is crucial for the future of the Volkswagen Group. The trust of our customers and investors is a fundamental requirement. We foster this trust through transparent and responsible corporate governance, which takes the highest priority in our daily work. That’s why the Board of Management and the Supervisory Board of Volkswagen AG comply with the recommendations of the current German Corporate Governance Code as issued on May 26, 2010 with only one limited exception. SUCCESSFUL CORPORATE GOVERNANCE IN ACCORDANCE WITH and will continue to be fully complied with, with the THE RECOMMENDATIONS AND SUGGESTIONS OF THE GERMAN exception of article 4.2.3 (4) (severance payment cap).
    [Show full text]