Porsche 2008 Annual Report Download - page 94

92


;VV\YZOHYLOVSKLYZ -PUHUJPHSZ 
*VYWVYH[LNV]LYUHUJLYLWVY[ 

[OLJHZL;OLHNYLLTLU[VU[OLPU]VS]LTLU[VM
LTWSV`LLZH[7VYZJOL(\[VTVIPS/VSKPUN:,
JVU[HPUZ[OLWYV]PZPVU[OH[LTWSV`LLYLWYLZLU[HÌ
[P]LZHYLKPYLJ[S`HWWVPU[LK[VVMMPJLMVSSV^PUN
[OLPYLSLJ[PVUI`[OL^VYRZJV\UJPSVM[OL:,
,]LUPMUVZ\JOHNYLLTLU[OHKILLUTHKL[OL
HUU\HSNLULYHSTLL[PUN^V\SKILIV\UKI`[OL
UVTPUH[PVUZVM[OL^VYRZJV\UJPSMVY^VYRMVYJL
YLWYLZLU[H[PVU
-PUHUJPHSYLWVY[PUNHUKHUU\HSH\KP[
;OL7VYZJOLNYV\WqZMPUHUJPHSYLWVY[PUNPZ
IHZLKVU[OL0U[LYUH[PVUHS(JJV\U[PUN:[HUÌ
KHYKZ0(:HUK0U[LYUH[PVUHS-PUHUJPHS9LWVY[PUN
:[HUKHYKZ0-9:PZZ\LKI`[OL0U[LYUH[PVUHS
(JJV\U[PUN:[HUKHYKZ)VHYK0(:)PUZVMHYHZ
[OL`HYLHWWSPJHISL^P[OPU[OL,\YVWLHU<UPVU
HZ^LSSHZ[OLWYV]PZPVUZVM.LYTHUI\ZPULZZ
SH^HWWSPJHISL\UKLY:LJH/.)r/HUÌ
KLSZNLZL[aI\JOs!.LYTHU*VTTLYJPHS*VKL
;OLMPUHUJPHSZ[H[LTLU[ZVM7VYZJOL(\[VTVIPS
/VSKPUN:,HZWHYLU[JVTWHU`VM[OL7VYZJOL
NYV\WHYLIHZLKVU[OLHJJV\U[PUNWYV]PZPVUZ
VM[OL.LYTHU*VTTLYJPHS*VKL)V[OZL[ZVM
MPUHUJPHSZ[H[LTLU[ZHYLH\KP[LKI`HUPUKLÌ
WLUKLU[H\KP[VY
9PZRTHUHNLTLU[
;OL7VYZJOLNYV\WOHZHNYV\WÌ^PKLYPZRTHUÌ
HNLTLU[Z`Z[LT^OPJOOLSWZTHUHNLTLU[[V
YLJVNUPaLTHQVYYPZRZH[HULHYS`Z[HNL[O\Z
LUHISPUN[OLT[VPUP[PH[LJV\U[LYÌTLHZ\YLZPU
NVVK[PTL;OLYPZRTHUHNLTLU[Z`Z[LTH[[OL
7VYZJOLNYV\WPZJVU[PU\V\ZS`[LZ[LKMVYLMMPÌ
JPLUJ`HUKJVU[PU\HSS`VW[PTPaLK[VYLMSLJ[
JOHUNLKJVUKP[PVUZ-VYKL[HPSZWSLHZLYLMLY[V
WHNLZ[V
*VTT\UPJH[PVUHUK[YHUZWHYLUJ`
7VYZJOLH[[HJOLZNYLH[PTWVY[HUJL[V[YHUZWHYÌ
LU[JVTT\UPJH[PVUHUKYLN\SHYS`RLLWZZOHYLÌ
OVSKLYZMPUHUJPHSHUHS`Z[ZZOHYLOVSKLYHZZVJPHÌ
[PVUZ[OLTLKPHHUK[OLNLULYHSW\ISPJPUMVYTLK
HIV\[[OLZP[\H[PVUVM[OLJVTWHU`HUKP[ZI\ZPÌ
ULZZKL]LSVWTLU[;OPZPUMVYTH[PVUJHUIL
ZV\YJLKH[[OL^LIZP[L^^^WVYZJOLÌZLJVT
^OPJOJVU[HPUZHSSWYLZZYLSLHZLZHUKMPUHUJPHS
YLWVY[ZHZ^LSSHZ[OLHY[PJSLZVMHZZVJPH[PVUVM
7VYZJOL(\[VTVIPS/VSKPUN:,HUKPUMVYTH[PVU
HIV\[[OLNLULYHSZOHYLOVSKLYTLL[PUN0U[LYÌ
LZ[LK]PZP[VYZ[V[OLOVTLWHNLVM7VYZJOL
(\[VTVIPS/VSKPUN:,OH]L[OLVWWVY[\UP[`[V
Z\IZJYPIL[VHUL^ZSL[[LY[OH[YLN\SHYS`PUMVYTZ
[OLTVMKL]LSVWTLU[ZH[[OL7VYZJOLNYV\W
)LZPKLZ[OLYLN\SHYYLWVY[PUN7VYZJOLHUÌ
UV\UJLZKL[HPSZVMJPYJ\TZ[HUJLZ[OH[HYLUV[PU
[OLW\ISPJKVTHPUPUHJJVYKHUJL^P[O:LJ
>W/.r>LY[WHWPLYOHUKLSZNLZL[as!.LYTHU
:LJ\YP[PLZ;YHKPUN(J[^OPJO^OLU[OL`ILÌ
JVTLRUV^UJV\SKZPNUPMPJHU[S`PTWHJ[VU[OL
ZOHYLWYPJLVM[OL7VYZJOLZOHYL;OLZLHKOVJ
HUUV\UJLTLU[ZHYLHSZVWYLZLU[LKVU[OL
OVTLWHNLVM7VYZJOL(\[VTVIPS/VSKPUN:,
+PYLJ[VYZqKLHSPUNZ
7\YZ\HU[[V:LJH>W/.TLTILYZVM[OL
L_LJ\[P]LIVHYKHUKZ\WLY]PZVY`IVHYKHZ^LSS
HZJLY[HPUWLYZVUZPUTHUHNLTLU[WVZP[PVUZHUK
WLYZVUZJSVZLS`YLSH[LK[V[OLTT\Z[KPZJSVZL
[OLW\YJOHZLHUKZHSLVM7VYZJOLZOHYLZHUK
YLSH[LKMPUHUJPHSPUZ[Y\TLU[Z7VYZJOL(\[VTVIPS
/VSKPUN:,W\ISPZOLZZ\JOHUUV\UJLTLU[Z
HIV\[[YHUZHJ[PVUZVM[OPZRPUKVU[OL7VYZJOL
OVTLWHNL



+LJSHYH[PVUVMJVTWSPHUJL^P[O[OL
JVYWVYH[LNV]LYUHUJLJVKL
;OLIHJRNYV\UK
6U-LIY\HY`[OL-LKLYHS.LYTHU.V]Ì
LYUTLU[*VTTPZZPVUVU[OLJVYWVYH[LNV]LYUÌ
HUJLJVKLPU[YVK\JLKHZ[HUKHYKVMNVVKHUK
YLZWVUZPISLJVYWVYH[LNV]LYUHUJLMVYL_LJ\[P]L
IVHYKZHUKZ\WLY]PZVY`IVHYKZVMJVTWHUPLZ
SPZ[LKVU[OLZ[VJRL_JOHUNL7\YZ\HU[[V:LJ
(R[.[OLL_LJ\[P]LHUKZ\WLY]PZVY`
IVHYKZVMSPZ[LKJVTWHUPLZHYLVISPNLK[VTHRL
HUHUU\HSKLJSHYH[PVUVMJVUMVYTP[`HZ[V
^OL[OLY[OL`OH]LJVTWSPLKHUKHYLJVU[PU\PUN
[VJVTWS`^P[O[OLJVKLVY^OPJOVM[OLYLJÌ
VTTLUKH[PVUZJVU[HPULKPU[OLJVKLOH]LUV[
ILLUVYHYLUV[HWWSPLKHUK^O`
-VY[OLWLYPVK\U[PS(\N\Z[[OLKLJSHYHÌ
[PVUILSV^YLMLYZ[V[OL]LYZPVUVM[OLJVKL
HTLUKLK1\ULHUKMVY[OLWLYPVKMYVT
(\N\Z[[V(\N\Z[ [V[OL]LYZPVU
VM[OLJVKLHTLUKLK1\ULHUKZPUJL
(\N\Z[ [V[OL]LYZPVUVM[OLJVKLHTLUKLK
1\UL ^OPJO^HZW\ISPZOLKPU[OLLSLJÌ
[YVUPJ-LKLYHS.HaL[[LVU(\N\Z[ 0MUV
L_WSPJP[YLMLYLUJLPZTHKL[VHZWLJPMPJ]LYZPVUVM
[OLJVKL[OLU[OLYLZWLJ[P]LYLJVTTLUKH[PVU
YLTHPULK\UJOHUNLKPU[OPZWLYPVK
+LJSHYH[PVUVMJVTWSPHUJLVM
7VYZJOL(\[VTVIPS/VSKPUN:,
;OLL_LJ\[P]LIVHYKHUKZ\WLY]PZVY`IVHYKVM
7VYZJOL(\[VTVIPS/VSKPUN:,KLJSHYLPUHJJVYÌ
KHUJL^P[O:LJ(R[.[OH[[OLJVTWHU`
OHZLZZLU[PHSS`JVTWSPLKHUKKVLZJVTWS`^P[O[OL
YLJVTTLUKH[PVUZVM[OL.V]LYUTLU[*VTTPZZPVU
VM[OL.LYTHUJVYWVYH[LNV]LYUHUJLJVKLHUÌ
UV\UJLKI`[OL-LKLYHS4PUPZ[Y`VM1\Z[PJLPU[OL

VMMPJPHSWHY[VM[OLLSLR[YVUPZJOLY)\UKLZHUÌ
aLPNLY.LYTHU,SLJ[YVUPJ-LKLYHS.HaL[[L
>OLYL[OPZPZUV[[OLJHZLPU[LYTZVMPUKP]PK\HS
YLJVTTLUKH[PVUZH[WYLZLU[TVZ[VM[OLYLJÌ
VTTLUKH[PVUZVM[OLJVKL^PSSILJVTWSPLK^P[O
PUM\[\YLPUSPNO[VM[OLPU[LU[PVU[VJYLH[LHU
PU[LNYH[LKH\[VTV[P]LNYV\W^P[O=VSRZ^HNLU(.
HUK[OLYLSH[LKHKQ\Z[TLU[Z[VIYPUNJVYWVYH[L
NV]LYUHUJLPUSPUL^P[O[OLJVYWVYH[LNV]LYUÌ
HUJLVM=VSRZ^HNLU(./V^L]LY[OLJVTWHU`
KPKUV[JVTWS`HUKVYOHZUV[`L[JVTWSPLK^P[O
[OLMVSSV^PUNYLJVTTLUKH[PVUZ!
r0M[OLJVTWHU`[HRLZV\[H+6KPYLJ[VYZqHUK
VMMPJLYZqSPHIPSP[`PUZ\YHUJLWVSPJ`MVY[OLL_LJ\Ì
[P]LIVHYKHUKZ\WLY]PZVY`IVHYKHZ\P[HISL
KLK\J[PISLZOV\SKILHNYLLKs5VVM[OL
.LYTHUJVYWVYH[LNV]LYUHUJLJVKLHZ
HTLUKLK1\ULHUK1\UL
r(ZPTPSHYKLK\J[PISLT\Z[ILHNYLLK\WVUPUHU`
+6WVSPJ`MVY[OLZ\WLY]PZVY`IVHYKs5V
ZLU[LUJL.LYTHUJVYWVYH[LNV]LYUHUJL
JVKLHZHTLUKLK1\UL 
;OLYLJVTTLUKH[PVUVM[OLJVKLHZHTLUKLK
1\ULHUK1\UL^HZUV[MVSÌ
SV^LK>P[OYLNHYK[V[OLHNYLLTLU[VMHKLÌ
K\J[PISLPU[OL+6PUZ\YHUJLWVSPJPLZMVY[OL
L_LJ\[P]LIVHYK[OLUL^WYV]PZPVUZVM:LJ 
ZLU[LUJL(R[.OH]LILLUHWWSPLKZPUJL[OL
LU[Y`PU[VMVYJLVM[OL=VYZ[(.r.LZL[aa\Y
(UNLTLZZLUOLP[KLY=VYZ[HUKZ]LYNÊ[\UNs!
.LYTHU(J[VU[OL(WWYVWYPH[LULZZVM,_LJ\Ì
[P]L)VHYK*VTWLUZH[PVUVU(\N\Z[ 
>P[OYLZWLJ[[V+6PUZ\YHUJLMVY[OLZ\WLY]PÌ
ZVY`IVHYK[OLYLJVTTLUKH[PVUVM[OL*VKLHZ
VM1\UL OHZUV[ILLUMVSSV^LK[VKH[L