Porsche 2007 Annual Report Download - page 166
Download and view the complete annual report
Please find page 166 of the 2007 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
 |
 |
163
Capital reserve
The capital reserve contains contributions from premiums and is unchanged since the
previous year.
Retained earnings
The retained earnings are reserves for accumulated profits, reserves for marking negotiable secu-
rities to market and reserves for cash flow hedges. The accumulated profits include the profits of
Porsche SE and its consolidated subsidiaries earned in previous years and the reporting year and
not yet distributed as well as transactions without effect on income.
The financial statements of Porsche SE as of 31 July 2008 report net profit available for distri-
bution of EUR 2,190,000,000. At the time when the financial statements were authorized for
issue by the Executive Board, a proposal to the annual general meeting for the appropriation of
profits available for distribution had not yet been made.
The reserve for marking negotiable securities to market contains changes in the fair value of these
securities.
The portion of the gain or loss on the hedging instrument that is determined to be an effective
hedge is recognized in the reserve for cash flow hedges.
Currency translation
The foreign currency translation reserve is used to record exchange differences arising from the
translation of the financial statements of foreign subsidiaries.
Hybrid capital
In December 2007, the Group privately placed a hybrid bond for EUR 1 billion with large institu-
tional investors in Europe, Asia and the Middle East. This bond is subject to interest at a rate of
6.25% and, like the existing US dollar hybrid bond, has an indefinite life. The hybrid capital with
a nominal value of EUR 1 billion and USD 1 billion (prior year: USD 1 billion) represents group
equity in accordance with the rulings of IAS 32. The currency translation of the hybrid capital in
US dollars is based on the exchange rate prevailing at the time of issue.
Dividend payments
In the 2007/08 fiscal year, before the stock split at a ratio of 1:10, Porsche SE distributed a
dividend for the 2006/07 fiscal year of EUR 6.94 plus EUR 15.00 special dividend (prior year:
EUR 5.94 plus EUR 3.00 special dividend) and per preference share EUR 7.00 plus EUR 15.00
special dividend (prior year: EUR 6.00 plus EUR 3.00 special dividend). The dividend paid for
ordinary shares thus amounts to EUR 191,975 k (prior year: EUR 78,225 k) and for preference
shares EUR 192,500 k (prior year: EUR 78,750 k).