Porsche 2003 Annual Report Download - page 14
Download and view the complete annual report
Please find page 14 of the 2003 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
 |
 |
10
World Economy recovering
The world economy has been showing signs of an upturn for
over a year. Contributing factors have been lower interest
rates, improved sales expectations, and more robust invest-
ment activity. This encouraging development is being driven
by two main regional centers: North America and Asia. The
upturn in the US is a consequence of its expansive economic
policy, and has been accompanied by a rise in employment
figures. The boom in China is providing the Asian economy with
considerable impetus, and in Japan too the economy con-
tinues to recover.
Benefiting from the upturn in these regions, the Euro zone is
gradually moving out of a long period of stagnation. Despite
the strong Euro, exports have been key driving element in this
trend. The new EU nations in Central and Eastern Europe have
also contributed to the dynamics of the Euro economy. How-
ever, weak spending by private households is still a fly in the
ointment.
Unfortunately, the German economy is participating only very
hesitantly in the worldwide economic recovery. The domestic
national product may have increased during 2004, but the
dynamic performance of the economy bears no comparison
with that of other countries. The country’s many structural
problems are an important reason for this. The consequential
costs of German reunification and the effects of obsolete
bureaucracy in the labor and social systems are working against
the welcome efforts of the government to introduce reforms.
Porsche remains on Track for Success
Despite the fact that the upturn has not yet reached all markets,
and regardless of unsatisfactory developments in the auto-
mobile markets, Porsche remained on course for success.
Our key business figures once again reached new record levels
The new 911 will stimulate
sales afresh in the current
fiscal year. Basic and S
versions were launched
together.
Group and Porsche AG Status Report 2003 ⁄ 04