Porsche 2011 Annual Report Download - page 8
Download and view the complete annual report
Please find page 8 of the 2011 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.-
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
LETTER TO OUR
SHAREHOLDERS
+LHYZOHYLOVSKLYZ
7VYZJOL(\[VTVIPS/VSKPUN:,PZVUJV\YZLMVYZ\JJLZZHUKJVTWSL[LK[OLMPZJHS`LHYVUHUHIÌ
ZVS\[LS`ZVSPKMVV[PUN;OLNYV\WZMPUHUJPHSWVZP[PVUOHZPTWYV]LKZPNUPMPJHU[S`JVTWHYLK[V[OLWYPVY`LHY;OL
JHWP[HSPUJYLHZLJHYYPLKV\[I`[OLJVTWHU`PU(WYPSYLZ\S[LKPUUL[PZZ\LWYVJLLKZVMZVTL IPSSPVU
L\YV>L\ZLK[OLLU[PYLHTV\U[WS\ZHKKP[PVUHSH]HPSHISLSPX\PKP[`[VYLWH`IHURSVHUZ[V[HSPUNIPSSPVUL\YV
(ZHYLZ\S[UL[SPX\PKP[`PLJHZOHUKJHZOLX\P]HSLU[ZSLZZSPHIPSP[PLZ[VIHURZJHTL[VQ\Z[IPSSPVUL\YVHZ
VM+LJLTILY6UL`LHYLHYSPLY[OLJVYYLZWVUKPUNMPN\YLOHKZ[PSSILLUTPU\ZIPSSPVUL\YV
;VZ\T\W![OL7VYZJOL:,NYV\WOHZUV[VUS`KPZJOHYNLKTVZ[VMP[ZKLI[Z"HZHYLZ\S[VM[OLKP]PKLUK
PUJVTLMYVTV\Y[^VLX\P[`PU]LZ[TLU[Z[OL=VSRZ^HNLU(.NYV\WHUK7VYZJOLA^PZJOLUOVSKPUN.TI/[OL
JVTWHU`ZSPX\PKP[`ZP[\H[PVUPZHSZV]LY`LUJV\YHNPUN
7VYZJOL:,ILULMP[ZMYVT[OLZ[YLUN[OZVM=VSRZ^HNLUHUK7VYZJOL0U[OL=VSRZ^HNLUNYV\W
MVY[OLMPYZ[[PTLZVSKTVYL[OHULPNO[TPSSPVU]LOPJSLZPUHMPZJHS`LHY;OL[V[HSVMTPSSPVU\UP[ZKLSP]LYLK
YLWYLZLU[ZHUPUJYLHZLVMHYV\UKWLYJLU[>OH[PZYLTHYRHISLHIV\[[OPZPZ[OH[KLSP]LY`MPN\YLZ^LYLOPNOLY
PUHSS[^LS]LTVU[OZVM[OLYLWVY[PUNWLYPVK[OHUPU[OLZHTLTVU[OZVM[OLWYPVY`LHY>OLUP[JHTL[V[OL
VWLYH[PUNYLZ\S[[OL=VSRZ^HNLUNYV\WPTWYV]LKP[ZYLJVYKWYPVYÌ`LHYMPN\YLI`HSTVZ[WLYJLU[[V
IPSSPVUL\YV
-VY7VYZJOL(.[VV[OLWHZ[`LHY^HZ[OLTVZ[Z\JJLZZM\SPU[OLJVTWHU`ZOPZ[VY`;OL:[\[[NHY[Ì
IHZLKZWVY[ZJHYTHU\MHJ[\YLYMVY[OLMPYZ[[PTLZVSKTVYL]LOPJSLZPUHMPZJHS`LHY![OLHWWYV_PTH[LS`
\UP[ZKLSP]LYLKHYLLX\P]HSLU[[VHÌWLYJLU[PUJYLHZL4VYLV]LY[OLVWLYH[PUNYLZ\S[PUJYLHZLK[V
TVYL[OHU[^VIPSSPVUL\YVMVY[OLMPYZ[[PTL;OPZTLHUZ[OH[7VYZJOL(.HJOPL]LK`LHYÌVUÌ`LHYNYV^[OVM
WLYJLU[[VIPSSPVUL\YV
4HUHNLTLU[HUKZ[HMMH[IV[OJVTWHUPLZ^HU[[VHJOPL]LL]LUTVYL>P[O[OLPYYLZWLJ[P]L:[YH[LN`
=VSRZ^HNLUHUK7VYZJOLHYLZ[YP]PUN[VVJJ\W`[VWWVZP[PVUZ!=VSRZ^HNLUHPTZ[VILU\TILYVULPU[OL
NSVIHSH\[VTV[P]LPUK\Z[Y`I`7VYZJOLPU[LUKZ[VLZ[HISPZOP[ZLSMHZ[OLTVZ[Z\JJLZZM\STHU\MHJ[\YLYVM
L_JS\ZP]LZWVY[ZJHYZ^VYSK^PKL
8