Traction Invitation to the 129Th Annual General
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Invitation to the 129th Annual General Meeting of AUDI AG at 10.00 a.m. on May 9, 2018, at the Audi Forum Ingolstadt traction AUDI GROUP KEY FIGURES 2017 2016 Change in % Production Automotive segment Cars 1) 1,879,840 1,903,259 – 1.2 Engines 1,966,434 1,927,838 2.0 Motorcycles segment Motorcycles 56,743 56,978 – 0.4 Deliveries to customers Automotive segment Cars 2,105,084 2,088,187 0.8 Audi brand 2) Cars 1,878,105 1,867,738 0.6 Lamborghini brand Cars 3,815 3,457 10.4 Other Volkswagen Group brands Cars 223,164 216,992 2.8 Motorcycles segment Motorcycles 55,871 55,451 0.8 Ducati brand Motorcycles 55,871 55,451 0.8 Workforce Average 90,402 87,112 3.8 Revenue EUR million 60,128 59,317 1.4 Operating profit before special items EUR million 5,058 4,846 4.4 Operating profit EUR million 4,671 3,052 53.0 Profit before tax EUR million 4,783 3,047 57.0 Profit after tax EUR million 3,479 2,066 68.4 Operating return on sales before special items Percent 8.4 8.2 Operating return on sales Percent 7.8 5.1 Return on sales before tax Percent 8.0 5.1 Return on investment (ROI) Percent 14.4 10.7 Ratio of capex 3) Percent 6.4 5.7 Research and development ratio Percent 6.3 7.5 Cash flow from operating activities EUR million 6,173 7,517 – 17.9 Net cash flow 4) EUR million 4,312 2,094 105.9 Balance sheet total (Dec. 31) EUR million 63,680 61,090 4.2 Equity ratio (Dec. 31) Percent 44.2 41.4 1) Including vehicles built locally by the associated company FAW-Volkswagen Automotive Company, Ltd., Changchun (China) 2) Including delivered vehicles built locally by the 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 the transfer of the minority interest in Volkswagen Group Services S.A./N.V., Brussels (Belgium), to Volkswagen AG, Wolfsburg, in 2017 129TH ANNUAL GENERAL MEETING OF AUDI AG 129TH ANNUAL GENERAL MEETING OF AUDI AG The 129th Annual General Meeting of AUDI AG will be held on Wednesday, May 9, 2018, at 10:00 a.m. at the Audi Forum Ingolstadt, Auto-Union-Straße 1, 85045 Ingolstadt, Germany. We cordially invite our shareholders to attend. AGENDA 1 / Presentation of the established Annual Financial 4 / Election of new Supervisory Board members Statements, the approved Consolidated Financial Statements and the Combined Management Report The Supervisory Board consists of 20 members. Pursuant for the Audi Group and AUDI AG for the fiscal year to Section 7, Para. 1 of the German Codetermination Act from January 1 to December 31, 2017, with the and Sections 96 and 101 of the German Stock Corpora- report of the Supervisory Board as well as the tion Act, the Supervisory Board comprises ten sharehold- explanatory report of the Board of Management on er representatives and ten employee representatives. the disclosures pursuant to Sections 289a, Para. 1 and 315a, Para. 1 of the German Commercial Code According to Section 96, Para. 2, Sentence 1 of the Ger- man Stock Corporation Act, the Supervisory Board shall The documents cited above can be viewed at comprise at least thirty percent women and at least thir- www.audi.com/annual_general_meeting. In addition, the ty percent men. Overall compliance according to Sec- documents will be accessible during the Annual General tion 96, Para. 2, Sentence 3 of the German Stock Corpo- Meeting and will be further explained. ration Act was rejected. The minimum quota for this elec- tion is therefore to be met separately by the shareholder In accordance with legal requirements (Sections 172 and and employee representative groups. Of the ten share- 173 of the German Stock Corporation Act), no resolution holder seats on the Supervisory Board, at least three is to be adopted with regard to agenda item 1 as the seats must therefore be filled by women and at least Supervisory Board has approved the Annual Financial three seats by men. Statements prepared by the Board of Management and the Consolidated Financial Statements. The Annual Pursuant to Section 102, Para. 1 of the German Stock Financial Statements are thus established. Corporation Act and Section 9, Para. 2 of the Articles of Incorporation and Bylaws of AUDI AG, the term of office 2 / Resolution on discharge of the members of the of the ten shareholder representatives on the Supervisory Board of Management Board shall end with the close of this year’s Annual Gen- eral Meeting. For this reason, ten shareholder represent- The Supervisory Board and the Board of Management atives are to be newly elected for a full period of office. propose that discharge be granted for the members of the Board of Management for the 2017 fiscal year. Pursuant to Section 102, Para. 1 of the German Stock Corporation Act and Section 9, Para. 2 of the Articles of 3 / Resolution on discharge of the members of the Incorporation and Bylaws of AUDI AG, the term of office Supervisory Board of the Supervisory Board members to be elected at this year’s Annual General Meeting shall end with the close of The Supervisory Board and the Board of Management the Annual General Meeting which shall give discharge propose that discharge be granted for the members of for the 2022 fiscal year. the Supervisory Board for the 2017 fiscal year. 129TH ANNUAL GENERAL MEETING OF AUDI AG The Supervisory Board proposes to the Annual General The Supervisory Board has obtained an assurance from Meeting that the following persons be elected to the Su- the proposed candidates that they have the anticipated pervisory Board from the close of the Annual General time to fulfill the requirements of the office. Meeting: The intention is to ask the Annual General Meeting to Mag. Josef Ahorner elect the new Supervisory Board members by list. Businessman, Vienna, Austria With reference to Article 5.4.3, Sentence 3 of the Ger- Dr. rer. pol. h. c. Francisco Javier Garcia Sanz man Corporate Governance Code, attention is drawn to Member of the Board of Management of Volkswagen AG, the fact that Mr. Matthias Müller is to be proposed as Wolfsburg candidate for the Chairman of the Supervisory Board in the event that he is elected to the Supervisory Board. Marianne Heiß Chief Financial Officer of BBDO Group Germany GmbH, Further details of the candidates proposed for election to Düsseldorf the Supervisory Board are shown after the agenda. Dr. Julia Kuhn-Piëch 5 / Election of the auditor of the accounts and Property Manager, Salzburg, Austria consolidated accounts for the 2018 fiscal year and of the auditor for the review of the condensed Matthias Müller Consolidated Financial Statements and Interim Chairman of the Board of Management of Volkswagen AG Management Report for the first half of 2018. Wolfsburg Member of the Board of Management of Porsche Based on the recommendation of the Audit Committee, Automobil Holding SE, Stuttgart the Supervisory Board proposes that Pricewaterhouse- Coopers GmbH Wirtschaftsprüfungsgesellschaft, Munich, Dr. jur. Hans Michel Piëch be appointed as auditor of the accounts and consolidated Attorney, Vienna, Austria accounts for the 2018 fiscal year and as auditor for the review of the condensed Consolidated Financial State- Dipl.-Wirtsch.-Ing. Hans Dieter Pötsch ments and Interim Management Report for the first half Chairman of the Supervisory Board of Volkswagen AG, of 2018. Wolfsburg Chairman of the Board of Management and Chief Finan- cial Officer of Porsche Automobil Holding SE, Stuttgart Dr. jur. Ferdinand Oliver Porsche Member of the Board of Management of Familie Porsche AG Beteiligungsgesellschaft, Salzburg, Austria Dr. rer. comm. Wolfgang Porsche Chairman of the Supervisory Board of Porsche Automobil Holding SE, Stuttgart Chairman of the Supervisory Board of Dr. Ing. h.c. F. Porsche AG, Stuttgart Hiltrud Dorothea Werner Member of the Board of Management of Volkswagen AG, Wolfsburg 129TH ANNUAL GENERAL MEETING OF AUDI AG TOTAL NUMBER OF SHARES AND VOTING RIGHTS AT THE TIME OF CONVENING OF THE ANNUAL GENERAL MEETING At the time of convening of the Annual General Meeting, The total number of voting rights is likewise 43,000,000. the total number of shares in the Company is 43,000,000. CONDITIONS FOR PARTICIPATING IN THE ANNUAL GENERAL MEETING AND EXERCISING VOTING RIGHTS Only those shareholders who have registered by no later than By fax: + 49 89 30903-74675 the end of May 2, 2018, shall be entitled to participate in the By e-mail: [email protected] Annual General Meeting and exercise voting rights. / Significance of the deadline for providing evidence of Shareholders must moreover provide evidence of their eligi- eligibility bility to participate in the Annual General Meeting and exer- The deadline for providing evidence of eligibility is the deci- cise voting rights by no later than the end of May 2, 2018. sive date for determining the scope and eligibility to partici- pate in and exercise voting rights at the Annual General Registration must be received in text form (Section 126b of Meeting. In respect of the Company, only those persons who the German Civil Code) in the German or English language, at have presented confirmation of stockholdings by the dead- the following address, together with confirmation of the line for providing evidence of eligibility shall be considered stockholding at the record date by the institute administer- shareholders who are eligible to participate in and exercise ing the securities.