Porsche 2008 Annual Report Download - page 48

46


;VV\YZOHYLOVSKLYZ -PUHUJPHSZ 
.YV\WTHUHNLTLU[YLWVY[ 

0U[OLPU[LYLZ[VMHZ^PM[THYRL[SH\UJOVM:\UÌ
-\LSHZLJVUKÌNLULYH[PVUIPVM\LS[OL=VSRZÌ
^HNLUZ\INYV\WHSZVZLLRZ[VMVYTJVSSHIVYHÌ
[PVUZ^P[OHUKKPYLJ[S`PU]LZ[PUJVTWHUPLZPUÌ
]VS]LKPU[OLWYVK\J[PVUVM[OLZLM\LSZ;OL
KLJPZPVU[VWYVTV[LHUKW\YZ\L[OLKL]LSVWÌ
TLU[VMUL^M\LSZ[VNL[OLY^P[O*/69,50UK\ZÌ
[YPLZ^HZHSYLHK`THKLPU;OPZSLK[V[OL
=VSRZ^HNLUZ\INYV\WW\YJOHZPUNHZOHYLPU
*/69,5PU0U[OLSVUN[LYT[OLWSHUPZ
MVY:\U+PLZLS[VILWYVK\JLKPU.LYTHU`HWWS`Ì
PUNZ\Z[HPUHISLTPUPT\TZ[HUKHYKZ
=VSRZ^HNLUOHZHSZVSVUNJVSSHIVYH[LK^P[O
06.,5^P[O[OLPU[LU[PVUVMWYVK\JPUNJLSS\SVZPJ
L[OHUVSPU.LYTHU`06.,5PZH^VYSKSLHKLYPU
[OLWYVK\J[PVUVMJLSS\SVZPJL[OHUVSHM\SS`YLÌ
UL^HISLZLJVUKÌNLULYH[PVUIPVM\LS
6U-LIY\HY` =VSRZ^HNLUHUK;VZOPIH
*VYWVYH[PVUZPNULKHSL[[LYVMPU[LU[MVY[OLQVPU[
KL]LSVWTLU[VMLSLJ[YPJKYP]LZHUK[OLYLSH[LK
WV^LYLSLJ[YVUPJZMVYM\[\YL]LOPJSLWYVQLJ[Z
(UV[OLYHZWLJ[VM[OLJVVWLYH[PVUPZ[OLKL]LSÌ
VWTLU[VMOPNOLULYN`ÌKLUZP[`IH[[LY`Z`Z[LTZ
MVY[OLUL_[NLULYH[PVUVMLSLJ[YPJ]LOPJSLZ;OL
=VSRZ^HNLUZ\INYV\WHPTZ[VIL[OLMPYZ[H\[VÌ
TV[P]LTHU\MHJ[\YLY[VVMMLYHULTPZZPVUÌMYLL
HMMVYKHISLHUKZHMLLSLJ[YPJ]LOPJSLPU]VS\TL
WYVK\J[PVU;VTHRL[OLULJLZZHY`WYVNYLZZPU
YLZLHYJOHUKKL]LSVWTLU[PUWHY[PJ\SHYPU[OL
MPLSKVMSP[OP\TPVUIH[[LY`[LJOUVSVN`=VSRZÌ
^HNLUPZ^VYRPUN^P[OV[OLYWV[LU[PHS[LJOUVSVN`
WHY[ULYZPUHKKP[PVU[V;VZOPIH
(ZWHY[VM[OLZ\INYV\WqZZ[YH[LN`=VSRZÌ
^HNLU^PSSYLPUMVYJLP[ZVWLYH[PVUZPU:V\[O,HZ[
(ZPHPU[OLM\[\YL0UVYKLY[VILHISL[V[HWPU[V
[OLTHYRL[ZVM[OPZYLNPVUPU[OLSVUN[LYT^P[O
SVJHSS`THU\MHJ[\YLK]LOPJSLZHUHNYLLTLU[
^HZYLHJOLKPU4H` ^P[O[OL0UKVULZPHU
WHY[ULYMPYTr0UKVTVIPSs[VILNPU[OLHZZLTIS`
VMWHY[PHSS`RUVJRLKÌKV^U=VSRZ^HNLUWHZZLUÌ
NLYJHYTVKLSZMYVTZ\TTLY ;OLMPYZ[
TVKLSPZ[OL;V\YHUJVTWHJ[]HU^P[OHUPUP[PHS
JHWHJP[`VMZL]LYHSO\UKYLK\UP[Z0U[OLM\[\YL
]LOPJSLZMYVTTVYLVM[OLZ\INYV\WZIYHUKZ^PSS
ILHKKLK
0U4H` 7YVM+Y>PU[LYRVYU*,6VM=VSRZÌ
^HNLU(.HUK[OL*,6VM[OL*OPULZLH\[VTVÌ
IPSLTHU\MHJ[\YLY)@+HSZVZPNULKHTLTVYHUÌ
K\TVM\UKLYZ[HUKPUN;OLHPTVM[OPZTLTVÌ
YHUK\TPZ[VHZZLZZVWWVY[\UP[PLZMVYJVSSHIVYHÌ
[PVUPU[OLMPLSKVMSP[OP\TÌIH[[LY`ÌWV^LYLKO`IYPK
HUKLSLJ[YPJ]LOPJSLZ
0UJYLHZLPUJHWP[HSPaLKKL]LSVWTLU[JVZ[Z
0UMPZJHS YLZLHYJOJVZ[ZHUKUVUÌ
JHWP[HSPaLKKL]LSVWTLU[JVZ[ZYVZL[VIPSSPVU
,\YVVUHJJV\U[VM[OLPUJS\ZPVUVM[OL=VSRZÌ
^HNLUZ\INYV\WWYPVY`LHY! IPSSPVU,\YV
+L]LSVWTLU[JVZ[Z[V[HSPUNIPSSPVU,\YV^LYL
JHWP[HSPaLKJVTWHYLK^P[OIPSSPVU,\YVPU[OL
WYPVY`LHY
0U[OLMPYZ[OHSMVM YLZLHYJOHUKUVUÌ
JHWP[HSPaLKKL]LSVWTLU[JVZ[ZH[[OL=VSRZÌ
^HNLUZ\INYV\WHTV\U[LK[VIPSSPVU,\YV
;OLJHWP[HSPaH[PVUYH[LMVY[OL=VSRZ^HNLUZ\IÌ
NYV\W^HZWLYJLU[THPUS`K\L[VHUPUÌ
JYLHZLPUUL^WYVK\J[ZVUHJJV\U[VM[OLTVKLS
JHTWHPNU
0UK\Z[YPHSWYVWLY[`YPNO[ZHUKSPJLUZLZ
;OL]VS\TLVMWH[LU[HWWSPJH[PVUZZ\ITP[[LKI`
[OL7VYZJOLZ\INYV\WYVZLPUVYKLY[VLMMLJ[P]LS`
WYV[LJ[[OLYLZ\S[ZVMP[ZYLZLHYJOHUKKL]LSVWÌ
TLU[HJ[P]P[PLZ(WHY[PJ\SHYMVJ\Z^HZVU[OL
PUUV]H[PVUZPU[OLUL^7HUHTLYH0USPNO[VM[OL
PUJYLHZPUNPU[LYUH[PVUHSJVTWL[P[PVUMVYPUK\Z[YPHS
WYVWLY[`YPNO[Z7VYZJOLJVUK\J[ZJVTWYLOLUZP]L
WH[LU[TVUP[VYPUNMVYKL]LSVWTLU[WYVQLJ[Z
;OL=VSRZ^HNLUZ\INYV\WVI[HPUZTHU`WH[LU[Z
PU.LYTHU`HUKHIYVHKLHJO`LHY;OLZLTHPUS`
JVUJLYUPUUV]H[PVUZPULSLJ[YVUPJZ\WWVY[Z`ZÌ
[LTZHUKLTPZZPVUZÌJ\[[PUNTLHZ\YLZMVYWYVÌ
W\SZPVUZ`Z[LTZ;OLOPNO]VS\TLHUK[LJOUVÌ
SVNPJHSX\HSP[`VM[OLWH[LU[HWWSPJH[PVUZZOV^Z
LTWSV`LLZL_[LUZP]LPUUV]H[P]LHIPSP[PLZ^OLUP[
JVTLZ[VOH]PUNPKLHZ




*VUZ\TW[PVUHUKLTPZZPVUZ

    
    
4VKLS
6\[W\[
R>7:
-\LS
JVUZ\TW[PVU
\YIHU
SRT
-\LS
JVUZ\TW[PVU
L_[YHÌ\YIHU
SRT
-\LS
JVUZ\TW[PVU
JVTIPULK
SRT
*6
LTPZZPVUZ
JVTIPULK
NRT
 
    
(\KP(;+0X\H[[YVJSLHUKPLZLS     
(\KP8;+0JSLHUKPLZLSX\H[[YV      
(\KP::WVY[IHJR;-:0    
(\KP;;9:*V\W¸     
)LU[SL`*VU[PULU[HS:\WLYZWVY[Z     
3HTIVYNOPUP4\YJP¸SHNV37Ì:=     
:,(;(S[LH,*646;0=,      
:,(;0IPaH-9     
:,(;3LVU*<79(      
:,(;3LVU*<79(9       
:,(;3LVU,*646;0=,     
ÑRVKH6J[H]PH.YLLU3PUL     
ÑRVKH6J[H]PH37.H\[VNHZ       
ÑRVKH6J[H]PH37.WL[YVS       
=>.VSM3PTV\ZPUL)S\L4V[PVU     
=>.VSM9ÌZWLLK+:.       
=>.VSM9ÌZWLLKTHU\HS       
