Porsche 2008 Annual Report Download - page 57
Download and view the complete annual report
Please find page 57 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.55
;VV\YZOHYLOVSKLYZ -PUHUJPHSZ
.YV\WTHUHNLTLU[YLWVY[
:HSLZHUKKPZ[YPI\[PVU
:HSLZHUKKPZ[YPI\[PVUUL[^VYRH[[OL
7VYZJOLZ\INYV\W
;OL7VYZJOLZ\INYV\WqZZHSLZHUKKPZ[YPI\[PVU
UL[^VYR^HZTHPUS`PU]VS]LKPUWYLWHYH[PVUZMVY
[OLUL^7HUHTLYHPU[OLYLWVY[PUN`LHY0UHKKPÌ
[PVU[VVWLUPUNHU\TILYVM7VYZJOLJLU[LYZH[
UL^SVJH[PVUZ[OLX\HSP[`VML_PZ[PUNYL[HPSMHJPSP[PLZ
^HZPTWYV]LK([V[HSVMQ\Z[\UKLYKLHSLYÌ
ZOPWZPUJV\U[YPLZ^LYL[HRPUNJHYLVM7VYÌ
ZJOLJ\Z[VTLYZHZVM[OLLUKVMMPZJHS
;OLr9VHK[V7HUHTLYHsPUP[PH[P]LLUHISLK
7VYZJOL[VWYLWHYLKLHSLYZMVY[OLSH\UJOVM
[OLUL^.YHU;\YPZTVI`TLHUZVMPUKP]PK\HS
WSHUZVMHJ[PVU;OLUL^MV\Y[OTVKLSZLYPLZ
MYVT[OLH\[VTVIPSLTHU\MHJ[\YLYIHZLKPU
:[\[[NHY[^LU[VUZHSLPU.LYTHU`VU:LWÌ
[LTILY :PUJL[OLUKLTVUZ[YH[PVU]LOPÌ
JSLZOH]LZ[VVKH[SPJLUZLK.LYTHUKLHSLYZ
MVY[LZ[KYP]LZHUKW\YJOHZLHNYLLTLU[Z
JVU[HPUPUNKLSP]LY`JVTTP[TLU[ZHUKKLHKÌ
SPULZJHUILZPNULK;OL7HUHTLYH[OLU^LU[
VUZHSLHJYVZZ,\YVWL:V\[O(TLYPJHHUK
WHY[ZVM(ZPHPU:LW[LTILY;OPZ^HZMVSSV^LK
I`5VY[O(TLYPJHHUK(\Z[YHSPHPU6J[VILY:HSLZ
ILNPUPU*OPUHPULHYS`
;OLLUVYTV\ZJVUZ[Y\J[PVULMMVY[Z[OYV\NOV\[
[OLLU[PYLKLHSLYZOPWUL[^VYR\UKLYZJVYLJVU[PUÌ
\LKMHP[OPU[OL7VYZJOLIYHUK0U[OLYLWVY[PUN
WLYPVKKLHSLYZHUKPTWVY[LYZJVTWSL[LKHU
H]LYHNLVM[^VJVUZ[Y\J[PVUVYYLJVUZ[Y\J[PVU
WYVQLJ[ZWLY^LLR;OLWHY[ULYZHYLHISL[VYLS`
VU[OLSVUNÌ[LYTJVU[PU\P[`VM[OL7VYZJOLIYHUK
HYJOP[LJ[\YL:PUJLILPUNPU[YVK\JLKPU
[OLHYJOP[LJ[\YHSJVUJLW[OHZYLTHPULKTVKLYU
^P[OVUS`KL[HPSZHKQ\Z[LK[VTLL[UL^THYRL[VY
WYVK\J[YLX\PYLTLU[Z;OLJVU[PU\P[`VM[OL
JVUJLW[ZHMLN\HYKZ[OLPU]LZ[TLU[THKLI`[OL
KLHSLYZNP]PUN[OLTYLSPHISLWH`IHJRWLYPVKZ
;OPZPZQ\Z[VULYLHZVUMVY[OLOPNOKLNYLLVM
Z[HIPSP[`PU[OLKLHSLYZOPWUL[^VYRL]LUPUKPMMPÌ
J\S[LJVUVTPJ[PTLZ6U[OLV[OLYOHUK[OL
SVUNÌ[LYTUH[\YLVM7VYZJOLqZIYHUKHYJOP[LJ[\YL
SLHKZ[VHSL]LSVMWLUL[YH[PVU[OYV\NOV\[[OL
UL[^VYR[OH[PZ\UPX\L^P[OPU[OLH\[VTV[P]L
ZLJ[VY*\Z[VTLYZHUKPU[LYLZ[LKWHY[PLZHYL
UV^NP]LUHIYHUKÌZWLJPMPJWYLZLU[H[PVUVM[OL
]LOPJSLZPU WLYJLU[VMHSSZOV^YVVTZ
;VV\YZOHYLOVSKLYZ -PUHUJPHSZ
.YV\WTHUHNLTLU[YLWVY[
:HSLZHUKKPZ[YPI\[PVU
:HSLZHUKKPZ[YPI\[PVUUL[^VYRH[[OL
7VYZJOLZ\INYV\W
;OL7VYZJOLZ\INYV\WqZZHSLZHUKKPZ[YPI\[PVU
UL[^VYR^HZTHPUS`PU]VS]LKPUWYLWHYH[PVUZMVY
[OLUL^7HUHTLYHPU[OLYLWVY[PUN`LHY0UHKKPÌ
[PVU[VVWLUPUNHU\TILYVM7VYZJOLJLU[LYZH[
UL^SVJH[PVUZ[OLX\HSP[`VML_PZ[PUNYL[HPSMHJPSP[PLZ
^HZPTWYV]LK([V[HSVMQ\Z[\UKLYKLHSLYÌ
ZOPWZPUJV\U[YPLZ^LYL[HRPUNJHYLVM7VYÌ
ZJOLJ\Z[VTLYZHZVM[OLLUKVMMPZJHS
;OLr9VHK[V7HUHTLYHsPUP[PH[P]LLUHISLK
7VYZJOL[VWYLWHYLKLHSLYZMVY[OLSH\UJOVM
[OLUL^.YHU;\YPZTVI`TLHUZVMPUKP]PK\HS
WSHUZVMHJ[PVU;OLUL^MV\Y[OTVKLSZLYPLZ
MYVT[OLH\[VTVIPSLTHU\MHJ[\YLYIHZLKPU
:[\[[NHY[^LU[VUZHSLPU.LYTHU`VU:LWÌ
[LTILY :PUJL[OLUKLTVUZ[YH[PVU]LOPÌ
JSLZOH]LZ[VVKH[SPJLUZLK.LYTHUKLHSLYZ
MVY[LZ[KYP]LZHUKW\YJOHZLHNYLLTLU[Z
JVU[HPUPUNKLSP]LY`JVTTP[TLU[ZHUKKLHKÌ
SPULZJHUILZPNULK;OL7HUHTLYH[OLU^LU[
VUZHSLHJYVZZ,\YVWL:V\[O(TLYPJHHUK
WHY[ZVM(ZPHPU:LW[LTILY;OPZ^HZMVSSV^LK
I`5VY[O(TLYPJHHUK(\Z[YHSPHPU6J[VILY:HSLZ
ILNPUPU*OPUHPULHYS`
;OLLUVYTV\ZJVUZ[Y\J[PVULMMVY[Z[OYV\NOV\[
[OLLU[PYLKLHSLYZOPWUL[^VYR\UKLYZJVYLJVU[PUÌ
\LKMHP[OPU[OL7VYZJOLIYHUK0U[OLYLWVY[PUN
WLYPVKKLHSLYZHUKPTWVY[LYZJVTWSL[LKHU
H]LYHNLVM[^VJVUZ[Y\J[PVUVYYLJVUZ[Y\J[PVU
WYVQLJ[ZWLY^LLR;OLWHY[ULYZHYLHISL[VYLS`
VU[OLSVUNÌ[LYTJVU[PU\P[`VM[OL7VYZJOLIYHUK
HYJOP[LJ[\YL:PUJLILPUNPU[YVK\JLKPU
[OLHYJOP[LJ[\YHSJVUJLW[OHZYLTHPULKTVKLYU
^P[OVUS`KL[HPSZHKQ\Z[LK[VTLL[UL^THYRL[VY
WYVK\J[YLX\PYLTLU[Z;OLJVU[PU\P[`VM[OL
JVUJLW[ZHMLN\HYKZ[OLPU]LZ[TLU[THKLI`[OL
KLHSLYZNP]PUN[OLTYLSPHISLWH`IHJRWLYPVKZ
;OPZPZQ\Z[VULYLHZVUMVY[OLOPNOKLNYLLVM
Z[HIPSP[`PU[OLKLHSLYZOPWUL[^VYRL]LUPUKPMMPÌ
J\S[LJVUVTPJ[PTLZ6U[OLV[OLYOHUK[OL
SVUNÌ[LYTUH[\YLVM7VYZJOLqZIYHUKHYJOP[LJ[\YL
SLHKZ[VHSL]LSVMWLUL[YH[PVU[OYV\NOV\[[OL
UL[^VYR[OH[PZ\UPX\L^P[OPU[OLH\[VTV[P]L
ZLJ[VY*\Z[VTLYZHUKPU[LYLZ[LKWHY[PLZHYL
UV^NP]LUHIYHUKÌZWLJPMPJWYLZLU[H[PVUVM[OL
]LOPJSLZPU WLYJLU[VMHSSZOV^YVVTZ
*VUZ[Y\J[PVUHJ[P]P[PLZOH]LILLUHUKJVU[PU\L
[VILZ\WWVY[LKI`HYHUNLVMWYVMLZZPVUHSPaHÌ
[PVUPUP[PH[P]LZ^P[OPU[OLZHSLZHUKKPZ[YPI\[PVU
VYNHUPaH[PVU;OLHPTPZHS^H`Z[VNP]LJ\Z[VTÌ
LYZ[OLILZ[WVZZPISLZ\WWVY[HUKPTWYV]LTHYÌ
RL[L_WSVP[H[PVU;OL`PUJS\KLHJ[P]P[PLZZ\JOHZ
rT`Z[LY`ZOVWWPUNsWYVNYHTZ[YHPUPUNVUWYVKÌ
\J[WYVJLZZHUKTHUHNLTLU[PZZ\LZ[OLZOHYÌ
PUNVMILZ[I\ZPULZZWYHJ[PJLZHUKWYVJLZZ
VW[PTPaH[PVU>P[OHSS[OLZLHJ[P]P[PLZ7VYZJOL
YLPUMVYJLZP[ZWYLTP\TWVZP[PVU^P[OPU[OLZHSLZ
HUKKPZ[YPI\[PVUVYNHUPaH[PVU
/PNOLZ[SL]LSVMJ\Z[VTLYZH[PZMHJ[PVU
7VYZJOLqZHWWLHS[VH\[VTVIPSLMHUZHYV\UK[OL
^VYSKPZYL]LHSLKLHJO`LHYPU[OLYLZ\S[ZVM
THU`Z\Y]L`Z;OLZ[YPUNVMVWPUPVUWVSSZI`[OL
YLUV^ULK<:THYRL[YLZLHYJOPUZ[P[\[L1+
7V^LYPU^OPJO7VYZJOLOHZJVTLV\[VU[VWPZ
WHY[PJ\SHYS`PTWYLZZP]L0[PZHZ[YPRPUNPUKPJH[VY
VM[OLOPNOSL]LSVM<:J\Z[VTLYZqZH[PZMHJ[PVU
^P[O[OL7VYZJOLIYHUK0UMPZJHS 7VYÌ
ZJOLJSHPTLKMPYZ[WSHJLMVY[OLMPM[O[PTLPU
Z\JJLZZPVUPU1+7V^LYZr(\[VTV[P]L7LYÌ
MVYTHUJL,_LJ\[PVUHUK3H`V\[:[\K`(7,(3s
Z\Y]L`;OLZ[\K`PU^OPJOWLVWSL
L]HS\H[LK[OLPY]LOPJSLZPU[OLWLYPVKIL[^LLU
5V]LTILYHUK-LIY\HY` YLMSLJ[Z
[OLZH[PZMHJ[PVUVMUL^Ì]LOPJSLV^ULYZPU[OLMPYZ[
KH`ZMVSSV^PUN[OLPYW\YJOHZL;OLJH[HSVNVM
JYP[LYPHL_HTPULKI`[OLr(WLHSsZ[\K`JV]LYZ
HYLHZZ\JOHZOHUKSPUNWLYMVYTHUJLKLZPNU
JVTMVY[HUKWYHJ[PJHSP[`
:HSLZHUKKPZ[YPI\[PVUZ[Y\J[\YLH[[OL
=VSRZ^HNLUZ\INYV\W
*VUZ[HU[JOHUNLZPUJ\Z[VTLYZqL_WLJ[H[PVUZ
HUKLJVUVTPJJVUKP[PVUZHSZVTHRLP[ULJLZZHY`
MVY[OL=VSRZ^HNLUZ\INYV\W[VHJ[P]LS`THUHNL
ZHSLZHUKKPZ[YPI\[PVUJOHUULSZ^OPSLJVUZ[HU[S`
VW[PTPaPUNZ[Y\J[\YLZHUKWYVJLZZLZ;OPZPTÌ
WYV]LZWYVMP[HIPSP[`HSVUN[OLLU[PYLKPZ[YPI\[PVU
JOHPU;OLZ[YH[LNPJNVHSW\YZ\LKI`[OLZ\IÌ
NYV\WPZ[VJVU[PU\L[VKL]LSVWMSL_PISLT\S[PÌ
JOHUULSTHUHNLTLU[[OH[VWLUZ\WPUUV]H[P]L
KPZ[YPI\[PVUJOHUULSZZ[YLUN[OLUZIYHUKZHUK
PTWYV]LZIV[O[OLHWWLHSVM[OLIYHUKHUKJ\ZÌ
[VTLYZH[PZMHJ[PVU;OLT\S[PÌJOHUULSZ[YH[LN`PZ
Z[Y\J[\YLKKPMMLYLU[S`MVYLHJOIYHUKKLWLUKPUN
VU[OH[IYHUKZZWLJPMPJ[HYNL[NYV\WZHUKTHYÌ
RL[ZLNTLU[Z/V^L]LYP[HS^H`ZZ[H`Z^P[OPU
[OLNYV\WVIQLJ[P]LZZL[I`=VSRZ^HNLU
;OLZHSLZHUKKPZ[YPI\[PVUI\ZPULZZWYVJLZZLZ
HYLJVUZ[HU[S`\UKLYNVPUNVW[PTPaH[PVUHUK
YLVYNHUPaH[PVU;OPZOHZ[OLTHPUHPTVMPTWYV]Ì
PUNZHSLZWLYMVYTHUJLHUKYLK\JPUNJVZ[ZH[HSS
SL]LSZVMKPZ[YPI\[PVU;OLJHWHJP[`MYLLK\WI`
[OLZ[HUKHYKPaH[PVUHUKYLK\J[PVUVM0;Z`Z[LTZ
H[^OVSLZHSLHUKYL[HPSSL]LS[OLYLMVYLILULMP[Z
WYVJLZZLZ[OH[HKK]HS\L
4HYRL[ÌZWLJPMPJHUKJYVZZÌIYHUKWYVQLJ[ZHPTLK
H[VW[PTPaPUNI\ZPULZZWYVJLZZLZOH]LILLU
PUP[PH[LKH[[OLUVUÌ.LYTHUZHSLZJVTWHUPLZ
;OLMVJ\ZPZVUIL[[LY\[PSPaPUNZ`ULYNPLZH[HSS
SL]LSZVM[OLJVTWHU`PTWYV]PUNLMMPJPLUJ`HUK
VW[PTPaPUNJVZ[Z;OPZJV\SKYLZ\S[MVYL_HTWSL
PU[OLJLU[YHSPaH[PVUHUKZ[HUKHYKPaH[PVUVM
JYVZZÌIYHUKZLY]PJLHNYLLTLU[Z0UHKKP[PVU
JVUJLW[ZOH]LILLUKYH^U\WMVYVW[PTPaPUN
^HYLOV\ZPUNHUKSVNPZ[PJZ;OLYLZ\S[PUNYLK\JÌ
[PVUPUV]LYOLHKZHUKPTWYV]LKWYVK\J[P]P[`
ZLY]L[VPUJYLHZLV]LYHSSWYVMP[HIPSP[`HUK[OL
HWWLHSVM[OL=VSRZ^HNLUZ\INYV\WqZZHSLZHUK
KPZ[YPI\[PVUZ`Z[LT
3V`HSJ\Z[VTLYZ
;OLZH[PZMHJ[PVUVMJ\Z[VTLYZ^P[O[OLNYV\WqZ
IYHUKZPZNH\NLKVUHYLN\SHYIHZPZPUHU\TILY
VMJV\U[YPLZ\ZPUN[HYNL[LKZ\Y]L`ZTHPUS`
JVUJLU[YH[PUNVU[OLMPLSKZVMWYVK\J[HUKZLYÌ
]PJL;OLYLZ\S[ZHYLHUHS`aLKHUKL]HS\H[LK^P[O
YLNHYK[V[OLPYJVU[YPI\[PVU[VHJOPL]PUN[HYNL[Z
ILMVYLJVYYLZWVUKPUNTLHZ\YLZMVYPTWYV]LÌ
TLU[HYLKYH^U\W0U[OLJVYL,\YVWLHUTHYÌ
RL[Z[OL(\KPHUKÑRVKHIYHUKZJHTL[VWVM
[OLMPLSK^P[OYLNHYK[VZH[PZMHJ[PVU^P[OWYVK\J[
HUKZLY]PJL;OLV[OLYNYV\WIYHUKZHSZVOH]L
V]LYHSSZH[PZMHJ[PVUMPN\YLZ[OH[HYLLP[OLYLX\HS
[VVYHOLHKVM[OLJVTWL[P[PVU
*\Z[VTLYZH[PZMHJ[PVUPZ[OLIHZPZMVYJ\Z[VTLY
SV`HS[`3V`HSJ\Z[VTLYZKLTVUZ[YH[L[OLPYMHP[O