Porsche 2008 Annual Report Download - page 15
Download and view the complete annual report
Please find page 15 of the 2008 Porsche 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.13
MPUHUJPHSZ[H[LTLU[Z^LYLYH[PMPLK;OL`JVU[YPIÌ
\[LK[V[OLYLSL]HU[WVPU[ZVU[OLHNLUKHHUK
YLWVY[LKVU[OLZPNUPMPJHU[MPUKPUNZVM[OLPYH\KP[
VM[OLMPUHUJPHSZ[H[LTLU[ZHUKJVUZVSPKH[LK
MPUHUJPHSZ[H[LTLU[Z0UWHY[PJ\SHY[OLYLWYLZLUÌ
[H[P]LZVM[OLH\KP[VYZJVTTLU[LKVU[OLUL[
HZZL[ZMPUHUJPHSWVZP[PVUHUKYLZ\S[ZVMVWLYHÌ
[PVUZVM7VYZJOL(\[VTVIPS/VSKPUN:,HUK^LYL
H]HPSHISL[V[OLZ\WLY]PZVY`IVHYK[VWYV]PKL
HU`HKKP[PVUHSPUMVYTH[PVU([[OLTLL[PUN[OL
Z\WLY]PZVY`IVHYKKPZJ\ZZLK[OLYLZ\S[ZVM[OL
H\KP[PUWHY[PJ\SHYYLNHYKPUN[OLTHYRPUN[V
THYRL[VM[OLVW[PVUZMVYZOHYLZPU=>^OPJO
HYLZ[Y\J[\YLKHZJHZOZL[[SLKVW[PVUZHZ^LSS
HZ[OLJVTWHU`qZSPX\PKP[`ZP[\H[PVU
0UHJJVYKHUJL^P[O(Y[ JPP*V\UJPS9LN\Ì
SH[PVU,*5VHUK:LJ(R[.
[OLL_LJ\[P]LIVHYKOHZWYLWHYLKHYLWVY[VU
YLSH[LKJVTWHUPLZKLWLUKLU[JVTWHU`YLWVY[
MVY[OLMPZJHS`LHY ;OLH\KP[VYZOH]L
H\KP[LK[OLKLWLUKLU[JVTWHU`YLWVY[HUKOH]L
YLUKLYLK[OLMVSSV^PUNH\KP[VWPUPVU!
r)HZLKVUV\YH\KP[HUKHZZLZZTLU[PUHJJVYÌ
KHUJL^P[OWYVMLZZPVUHSZ[HUKHYKZ^LJVUMPYT
[OH[
[OLHJ[\HSKPZJSVZ\YLZJVU[HPULKPU[OL
YLWVY[HYLJVYYLJ[
[OLWH`TLU[ZTHKLI`[OLJVTWHU`PU
JVUULJ[PVU^P[O[YHUZHJ[PVUZKL[HPSLKPU
[OLYLWVY[^LYLUV[\UYLHZVUHIS`OPNOs
;OLKLWLUKLU[JVTWHU`YLWVY[[VNL[OLY^P[O
[OLH\KP[YLWVY[VM[OLH\KP[VYVM[OLMPUHUJPHS
Z[H[LTLU[Z^LYLWYV]PKLK[V[OLZ\WLY]PZVY`
IVHYKPUH[PTLS`THUULYHUKKPZJ\ZZLKPUKL[HPS
H[[OLTLL[PUNVM[OLZ\WLY]PZVY`IVHYKVU
5V]LTILYHUKYL]PL^LK^P[OYLNHYK[V
JVTWSL[LULZZHUKHJJ\YHJ`PUWHY[PJ\SHY9LWÌ
YLZLU[H[P]LZVM[OLH\KP[VYZWHY[PJPWH[LKPU[OPZ
TLL[PUNYLWVY[LKVU[OLZPNUPMPJHU[MPUKPUNZVM
[OLH\KP[HUK^LYLH]HPSHISL[V[OLZ\WLY]PZVY`
IVHYK[VWYV]PKLHKKP[PVUHSPUMVYTH[PVU(JJVYKÌ
PUN[V[OLJVUJS\KPUNYLZ\S[ZVMP[ZV^UYL]PL^
[OLYL^LYLUVVIQLJ[PVUZ[VYHPZL^P[OYLZWLJ[
[V[OLJSVZPUNKLJSHYH[PVUVM[OLL_LJ\[P]L
IVHYKPU[OLKLWLUKLU[JVTWHU`YLWVY[
*VTWVZP[PVUVM[OLZ\WLY]PZVY`IVHYK
HUKL_LJ\[P]LIVHYK
;OLHUU\HSNLULYHSTLL[PUNVU1HU\HY`
LSLJ[LKHSSZOHYLOVSKLYYLWYLZLU[H[P]LZ[V[OL
Z\WLY]PZVY`IVHYKMVYHM\Y[OLYM\SS[LYT([[OL
LUKVM[OLHUU\HSNLULYHSTLL[PUN4LZZYZ
>VSMNHUN3LPTNY\ILY/HUZQÄYN:JOTPLYLYHUK
>HS[LY<OSYL[PYLKHZLTWSV`LLYLWYLZLU[H[P]LZ
MYVT[OLZ\WLY]PZVY`IVHYK4Y)LYUK6Z[LYSVO
)LY[OVS[/\ILYHUK7L[LY4VZJO^LYLHWWVPU[LK
PU[OLPYWSHJL
(ZHSYLHK`TLU[PVULK[OLIVHYKYLHJOLKHU
HNYLLTLU[^P[O+Y>LUKLSPU>PLKLRPUNHUK
4Y/VSNLY7/³Y[LYVU1\S` VU[OLPY
KPZTPZZHSMYVT[OLL_LJ\[P]LIVHYK4Y4PJOHLS
4HJO[^OVPZYLZWVUZPISLMVY[LJOUVSVN`HUK
WYVK\J[ZHUK4Y;OVTHZ,KPN^LYLHWWVPU[LK
HZUL^TLTILYZVM[OLL_LJ\[P]LIVHYKVM[OL
JVTWHU`4Y,KPNPZYLZWVUZPISLMVYJVTTLYÌ
JPHSPZZ\LZHUKHKTPUPZ[YH[PVU
;OHUR`V\
;OLZ\WLY]PZVY`IVHYKL_WYLZZLZP[ZNYH[P[\KL
[V[OLYL[PYPUNTLTILYZVM[OLZ\WLY]PZVY`
IVHYK[OLLTWSV`LLZqLSLJ[LKYLWYLZLU[H[P]LZ
[OLTHUHNLTLU[HUKHSSLTWSV`LLZPUHJRUV^SÌ
LKNLTLU[VM[OLPYKLKPJH[LK^VYRPU[OLWHZ[
MPZJHS`LHY
:[\[[NHY[5V]LTILY
:\WLY]PZVY`IVHYK
+Y>VSMNHUN7VYZJOL
*OHPYTHU
;OL*VTWHU` -PUHUJPHSZ
0UJVUZ\S[H[PVU^P[O[OLZ\WLY]PZVY`IVHYK[OL
LUKÌVMÌ`LHYH\KP[MVJ\ZLKVU[OLPUP[PHSJVUZVSPÌ
KH[PVUVM[OL=VSRZ^HNLUNYV\W0TWVY[HU[
[VWPJZPU[OPZYLNHYKPU]VS]LK[OLW\YJOHZLWYPJL
HSSVJH[PVUVU[OLKH[LVMPUP[PHSJVUZVSPKH[PVUHUK
[OLZ\IZLX\LU[JVUZVSPKH[PVU\W\U[PSIHSHUJL
ZOLL[KH[LHZ^LSSHZ[OLHWWSPJH[PVUVM\UPMVYT
HJJV\U[PUNWVSPJPLZ+\YPUN[OLH\KP[[OLSPX\PKÌ
P[`WSHUUPUNVM[OL7VYZJOLNYV\WuL_JS\KPUN
[OL=VSRZ^HNLUNYV\Wu^HZL_HTPULK^P[O
YLNHYK[VM\[\YLMPUHUJPUNYLX\PYLTLU[ZHUK[OL
TLHZ\YLZPUP[PH[LK[VYLMPUHUJL[OLNYV\W;OL
H\KP[VM[OLMPUHUJPHSZ[H[LTLU[ZPUJS\KLKH
YL]PL^VM[OLTLHZ\YLZVM[OLL_LJ\[P]LIVHYK
MVY[OLLHYS`KL[LJ[PVUVMYPZRZ[OH[JV\SKQLVWÌ
HYKPaL[OLWYVMP[HIPSP[`HUK[OLJVU[PU\LKL_PZÌ
[LUJLVM[OLJVTWHU`HZHNVPUNJVUJLYU
)HZLKVU[OLMPUKPUNZVM[OLH\KP[[OLL_[LYUHS
H\KP[VYJHTL[V[OLJVUJS\ZPVU[OH[[OLJVUZVSPÌ
KH[LKMPUHUJPHSZ[H[LTLU[ZJVTWS`^P[O0-9:ZHZ
HKVW[LKI`[OL,<[OLHKKP[PVUHSYLX\PYLTLU[Z
VM.LYTHUJVTTLYJPHSSH^W\YZ\HU[[V:LJ
H/.)HUK[OH[[OLZLWHYH[LMPUHUJPHS
Z[H[LTLU[ZJVTWS`^P[OYLX\PYLTLU[ZVM.LYÌ
THUJVTTLYJPHSSH^YLZWLJ[P]LS`HUK[OH[IV[O
ZL[ZVMMPUHUJPHSZ[H[LTLU[ZNP]LH[Y\LHUKMHPY
]PL^VM[OLUL[HZZL[ZMPUHUJPHSWVZP[PVUHUK
YLZ\S[ZVMVWLYH[PVUZVM[OLNYV\WHUK[OL
JVTWHU`YLZWLJ[P]LS`PUHJJVYKHUJL^P[O[OLZL
YLX\PYLTLU[Z4VYLV]LY[OLH\KP[VYMV\UK[OH[
[OLNYV\WTHUHNLTLU[YLWVY[PZJVUZPZ[LU[
^P[O[OLJVUZVSPKH[LKMPUHUJPHSZ[H[LTLU[ZHUK
ZLWHYH[LMPUHUJPHSZ[H[LTLU[ZHUKHZH^OVSL
WYV]PKLZHZ\P[HISL]PL^VM[OLWVZP[PVUVM[OL
NYV\WHUK[OLJVTWHU`HUKZ\P[HIS`WYLZLU[Z
[OLVWWVY[\UP[PLZHUKYPZRZVMM\[\YLKL]LSVWÌ
TLU[)HZLKVU[OLHZZLZZTLU[VM[OLPUKLÌ
WLUKLU[H\KP[VY[OLYPZRLHYS`^HYUPUNZ`Z[LT
LZ[HISPZOLKH[[OLSL]LSVM7VYZJOL(.HUK
=VSRZ^HNLU(.MVY[OL7VYZJOLHUK=VSRZ^HNLU
Z\INYV\WZYLZWLJ[P]LS`HUK[OLYPZRLHYS`^HYUÌ
PUNZ`Z[LT^OPJO7VYZJOL(\[VTVIPS/VSKPUN:,
LZ[HISPZOLKMVY[OL7VYZJOLNYV\WHZH^OVSL
TLL[[OLSLNHSYLX\PYLTLU[ZVM:LJ (R[.
;OLMPUHUJPHSZ[H[LTLU[ZVM7VYZJOL(\[VTVIPS
/VSKPUN:,[OLJVUZVSPKH[LKMPUHUJPHSZ[H[LÌ
TLU[ZHUK[OLJVTIPULKTHUHNLTLU[YLWVY[
HUKNYV\WTHUHNLTLU[YLWVY[VU^OPJO,YUZ[
@V\UN.TI/>PY[ZJOHM[ZWYÊM\UNZNLZLSSZJOHM[
:[\[[NHY[OHZYLUKLYLKHU\UX\HSPMPLKH\KP[
VWPUPVUHZ^LSSHZ[OLH\KP[YLWVY[ZVM[OLH\KPÌ
[VYZVM[OLMPUHUJPHSZ[H[LTLU[ZHUK[OLWYVÌ
WVZHSVM[OLL_LJ\[P]LJVTTP[[LLVU[OLHWWYVÌ
WYPH[PVUVMYL[HPULKLHYUPUNZ^LYLTHKLH]HPSÌ
HISLPUH[PTLS`THUULY[V[OLZ\WLY]PZVY`
IVHYKMVYYL]PL^;OLZ\WLY]PZVY`IVHYKJVUÌ
K\J[LKHKL[HPSLKYL]PL^VM[OLKVJ\TLU[Z
WYLZLU[LKW\YZ\HU[[V(Y[ JPP*V\UJPS
9LN\SH[PVU,*5VHUK:LJ
HUK(R[.HZ^LSSHZ[OLH\KP[YLWVY[ZVM
[OLH\KP[VYZVM[OLMPUHUJPHSZ[H[LTLU[Z;OL
H\KP[HSZVJV]LYLK[OLTHYRL[]HS\H[PVUVM[OL
VW[PVUZMVYZOHYLZPU=VSRZ^HNLU(.^OPJOHYL
Z[Y\J[\YLKHZJHZOZL[[SLKVW[PVUZ[OLSPX\PKP[`
ZP[\H[PVUHUK[OLYPZRLHYS`^HYUPUNZ`Z[LTVM
7VYZJOL(\[VTVIPS/VSKPUN:,HZ^LSSHZ[OL
WVZZPISLKH[LVMKLJVUZVSPKH[PVUVM=VSRZ^HNLU
(.K\L[V[OLWSHUZ[VPUJVYWVYH[LHYPNO[VM[OL
:[H[LVM3V^LY:H_VU`[VHWWVPU[[^VTLTILYZ
[V[OLZ\WLY]PZVY`IVHYKPU[OLHY[PJSLZVMHZZVÌ
JPH[PVUVM=VSRZ^HNLU(.;OLZ\WLY]PZVY`
IVHYKHNYLLZ^P[O[OLH\KP[MPUKPUNZVM,YUZ[
@V\UN .TI/>PY[ZJOHM[ZWYÊM\UNZNLZLSSZJOHM[
:[\[[NHY[:\IZLX\LU[[VP[ZV^UYL]PL^Z[OL
Z\WLY]PZVY`IVHYKOHZMV\UK[OH[UVVIQLJ[PVUZ
JHUILYHPZLK;OLZ\WLY]PZVY`IVHYKOHZHWÌ
WYV]LK[OLMPUHUJPHSZ[H[LTLU[ZHUK[OLJVUÌ
ZVSPKH[LKMPUHUJPHSZ[H[LTLU[ZMVY[OLMPZJHS`LHY
;OLHUU\HSMPUHUJPHSZ[H[LTLU[ZHYL
[OLYL^P[OYH[PMPLK;OLZ\WLY]PZVY`IVHYKOHZ
KLJSHYLK[OH[P[HNYLLZ^P[O[OLTHUHNLTLU[
YLWVY[VM[OLL_LJ\[P]LIVHYK;OLZ\WLY]PZVY`
IVHYKHNYLLZ[V[OLWYVWVZHSVM[OLL_LJ\[P]L
IVHYKVU[OLHWWYVWYPH[PVUVMYL[HPULKLHYUPUNZ
;OLYLWYLZLU[H[P]LZVM[OLH\KP[VYZH[[LUKLK[OL
TLL[PUNVM[OLZ\WLY]PZVY`IVHYKVU5V]LTÌ
ILY H[^OPJO[OLMPUHUJPHSZ[H[LTLU[Z^LYL
HWWYV]LKHUKYH[PMPLKHUK[OLJVUZVSPKH[LK