Porsche 2008 Annual Report Download - page 96

94


;VV\YZOHYLOVSKLYZ -PUHUJPHSZ 
*VYWVYH[LNV]LYUHUJLYLWVY[ 

MVY[OLMVSSV^PUNYLHZVUZ!7VYZJOLPUZ\YLZ[OL
+6YPZR\UKLYP[ZNLULYHSHZZL[HUKSPHIPSP[`PUÌ
Z\YHUJLHUKKVLZUV[PUJS\KLHZWLJPMPJKLK\J[PISL
PU[OL[V[HSWYLTP\TWH`HISL(SHYNLKLK\J[PISL
^OPJO^V\SKOH]L[VILHZ[HUKHYKZ\TPUVYKLY[V
JVTWS`^P[O[OLWYPUJPWSLVMLX\HSP[`^V\SKOH]L
^PKLS`KPMMLYPUNJVUZLX\LUJLZMVYTLTILYZVM[OL
Z\WLY]PZVY`IVHYKKLWLUKPUNVU[OLPYPUKP]PK\HS
JPYJ\TZ[HUJLZPUYLZWLJ[VMWYP]H[LPUJVTLHUK
HZZL[Z0U[OL^VYZ[JHZLHSLZZ^LHS[O`TLTILY
VM[OLZ\WLY]PZVY`IVHYKTPNO[MPUKOPTZLSMOLYZLSM
PUZLYPV\ZMPUHUJPHSKPMMPJ\S[PLZ^OPJOPU]PL^VM[OL
MHJ[[OH[HSSTLTILYZOH]L[OLZHTLK\[PLZHUK
VISPNH[PVUZPZUV[MHPY-VY[OLZHTLYLHZVUUV
KLK\J[PISL^HZHNYLLK\WVUPU+6PUZ\YHUJL
WVSPJPLZMVYL_LJ\[P]LIVHYKTLTILYZ\U[PS[OL
=VYZ[(.LU[LYLKPU[VMVYJLVU(\N\Z[ 
0UZWP[LVM[OLHYN\TLU[ZHNHPUZ[PUJS\KPUNHKLÌ
K\J[PISLPU[OL+6PUZ\YHUJLWVSPJPLZMVY[OLZ\WLYÌ
]PZVY`IVHYK[OLL_LJ\[P]LIVHYKHUKZ\WLY]PZVY`
IVHYKOH]LKLJPKLK[VPUJS\KLHJVYYLZWVUKPUNKLÌ
K\J[PISLPU[OL+6PUZ\YHUJLWVSPJPLZMYVTUV^VU
r([[OLWYVWVZHSVM[OLJVTTP[[LLKLHSPUN^P[O
L_LJ\[P]LIVHYKJVU[YHJ[Z[OLM\SSZ\WLY]PZVY`
IVHYKZOHSSYLZVS]LHUKYLN\SHYS`YL]PL^[OL
L_LJ\[P]LIVHYKJVTWLUZH[PVUZ`Z[LTPUJS\KPUN
[OLTHPUJVU[YHJ[LSLTLU[Zs5V
.LYTHUJVYWVYH[LNV]LYUHUJLJVKLHZ
HTLUKLK1\UL
r([[OLWYVWVZHSVM[OLJVTTP[[LLKLHSPUN^P[OL_Ì
LJ\[P]LIVHYKJVU[YHJ[Z[OLM\SSZ\WLY]PZVY`IVHYK
ZOHSSYLZVS]LHUKYLN\SHYS`YL]PL^[OLL_LJ\[P]L
IVHYKJVTWLUZH[PVUZ`Z[LTPUJS\KPUN[OLTHPU
JVU[YHJ[LSLTLU[Zs5V.LYTHUJVYWVÌ
YH[LNV]LYUHUJLJVKLHZHTLUKLK1\UL
r([[OLWYVWVZHSVM[OLJVTTP[[LLKLHSPUN^P[O
L_LJ\[P]LIVHYKJVU[YHJ[Z[OLM\SSZ\WLY]PZVY`
IVHYKKL[LYTPULZ[OL[V[HSJVTWLUZH[PVUVM[OL
PUKP]PK\HSL_LJ\[P]LIVHYKTLTILYZHUKZOHSS
YLZVS]LHUKYLN\SHYS`YL]PL^[OLL_LJ\[P]LIVHYK
JVTWLUZH[PVUZ`Z[LTs5V.LYTHU
JVYWVYH[LNV]LYUHUJLJVKLHZHTLUKLK
1\UL 
9LZVS\[PVUZVU[OLYLT\ULYH[PVUZ`Z[LTPUJS\KÌ
PUN[OLTHPUJVU[YHJ[LSLTLU[ZHYL[HRLUI`[OL
L_LJ\[P]LJVTTP[[LL^OPJOH[[OLZHTL[PTL
HJ[LKHZWLYZVUULSJVTTP[[LL\U[PS[OLLU[Y`
PU[VMVYJLVM[OL=VYZ[(.>LILSPL]L[OH[[OL
L_LJ\[P]LJVTTP[[LLPZIL[[LYHISL[VULNV[PH[L
[OLTH[LYPHSLSLTLU[ZVMLTWSV`TLU[JVU[YHJ[Z
^P[OL_LJ\[P]LIVHYKTLTILYZ[OHU[OLT\JO
SHYNLYM\SSZLZZPVUVM[OLZ\WLY]PZVY`IVHYK
6UJL[OL=VYZ[(.LU[LYLKPU[VMVYJLVU(\N\Z[
 [OLM\SSZ\WLY]PZVY`IVHYKKLJPKLZVU[OL
HTV\U[HUKPMULJLZZHY`[OLYLK\J[PVUVML_Ì
LJ\[P]LIVHYKJVTWLUZH[PVU;OLZ[Y\J[\YLVM
[OLYLT\ULYH[PVUZ`Z[LTMVY[OLL_LJ\[P]LIVHYK
VM7VYZJOLPZKPZJ\ZZLKHUKJOLJRLKYLN\SHYS`PU
P[ZLU[PYL[`I`[OLZ\WLY]PZVY`IVHYK
r0UJVUJS\KPUNL_LJ\[P]LIVHYKJVU[YHJ[ZJHYL
ZOHSSIL[HRLU[VLUZ\YL[OH[WH`TLU[ZTHKL[V
HUL_LJ\[P]LIVHYKTLTILYVUWYLTH[\YL[LYTPÌ
UH[PVUVMOPZJVU[YHJ[^P[OV\[ZLYPV\ZJH\ZL
PUJS\KPUNMYPUNLILULMP[ZKVUV[L_JLLK[OL
]HS\LVM[^V`LHYZqJVTWLUZH[PVUZL]LYHUJL
WH`TLU[JHWHUKJVTWLUZH[LUVTVYL[OHU[OL
YLTHPUPUN[LYTVM[OLJVU[YHJ[;OLZL]LYHUJL
WH`TLU[JHWZOHSSILJHSJ\SH[LKVU[OLIHZPZVM
[OL[V[HSJVTWLUZH[PVUMVY[OLWHZ[M\SSMPUHUJPHS
`LHYHUKPMHWWYVWYPH[LHSZV[OLL_WLJ[LK[V[HS
JVTWLUZH[PVUMVY[OLJ\YYLU[MPUHUJPHS`LHYs5V
.LYTHUJVYWVYH[LNV]LYUHUJLJVKLHZ
HTLUKLK1\ULHUK1\UL 
r7H`TLU[ZWYVTPZLKPU[OLL]LU[VMWYLTH[\YL
[LYTPUH[PVUVMHUL_LJ\[P]LIVHYKTLTILYqZ
JVU[YHJ[K\L[VHJOHUNLVMJVU[YVSZOHSSUV[
L_JLLKWLYJLU[VM[OLZL]LYHUJLWH`TLU[
JHWs5V.LYTHUJVYWVYH[LNV]LYUÌ
HUJLJVKLHZHTLUKLK1\ULHUK
1\UL 
;OLYLJVTTLUKH[PVUZPU5VHUK[OL
YLJVTTLUKH[PVUIHZLK[OLYLVUPUVM[OL
.LYTHUJVYWVYH[LNV]LYUHUJLJVKLOH]L[V
KH[LUV[ILLUJVTWSPLK^P[OILJH\ZL[OLPYPTÌ
WSLTLU[H[PVUPU]VS]LZJVUZPKLYHISLSLNHSHUK
WYHJ[PJHSJVTWSPJH[PVUZ+LZWP[L[OLZLKPMMPJ\SÌ
[PLZOV^L]LY[OLYLJVTTLUKH[PVUZ^PSSIL



JVUZPKLYLKPUM\[\YL^OLULU[LYPUNPU[VJVUÌ
[YHJ[Z^P[O[OLTLTILYZVM[OLL_LJ\[P]LIVHYK
r+PZJSVZ\YLVM[OL[V[HSYLT\ULYH[PVUVMLHJO
TLTILYVM[OLL_LJ\[P]LIVHYKZOHSSILTHKLPU
HJVTWLUZH[PVUYLWVY[^OPJOHZWHY[VM[OL
JVYWVYH[LNV]LYUHUJLYLWVY[KLZJYPILZ[OL
JVTWLUZH[PVUZ`Z[LTMVYL_LJ\[P]LIVHYKTLTÌ
ILYZPUHNLULYHSS`\UKLYZ[HUKHISL^H`s5V
.LYTHUJVYWVYH[LNV]LYUHUJLJVKL
;OLPUKP]PK\HSYLT\ULYH[PVUVM[OLTLTILYZVM
[OLL_LJ\[P]LIVHYKH[7VYZJOLOHZUV[ILLU
W\ISPZOLK[VKH[LMVY[OLMVSSV^PUNYLHZVU>L
ILSPL]L[OH[[OLKPZHK]HU[HNLZHZZVJPH[LK^P[O
Z\JOW\ISPJH[PVUu[OLPUL]P[HISL\W^HYKSL]LSPUN
VM[OLIVHYKTLTILYZqZHSHYPLZHUK[OLPU]HZPVU
VM[OLPUKP]PK\HSZqYPNO[[VWYP]HJ`uKVUV[Z[HUK
PUHU`YLHZVUHISLYLSH[PVU[V[OLHK]HU[HNLZ[V
PU]LZ[VYZVMZ\JOHWYHJ[PJL;OLZOHYLOVSKLYZ
^P[O]V[PUNYPNO[ZH[[OLHUU\HSNLULYHSTLL[PUN
VM7VYZJOL(.UV^7VYZJOL(\[VTVIPS/VSKPUN
:,JVUJ\YYLK^P[O[OPZHZZLZZTLU[HUK\UHUPÌ
TV\ZS`WHZZLK[OLSLNHSS`YLX\PYLKYLZVS\[PVUZ
^HP]PUNW\ISPJH[PVUVU1HU\HY`HZKPK
[OLL_[YHVYKPUHY`ZOHYLOVSKLYZTLL[PUNVM7VYÌ
ZJOL(.UV^7VYZJOL(\[VTVIPS/VSKPUN:,VU
1\UL5L]LY[OLSLZZ[OL[V[HSYLT\Ì
ULYH[PVUVMLHJOTLTILYVM[OLL_LJ\[P]LIVHYK
^PSSILW\ISPZOLKPUHJVTWLUZH[PVUYLWVY[PU[OL
JVYWVYH[LNV]LYUHUJLYLWVY[PUM\[\YLPLMYVT
MPZJHS`LHY VU^HYKZ
r;OLJVTWLUZH[PVUYLWVY[ZOHSSHSZVPUJS\KL
PUMVYTH[PVUVU[OLUH[\YLVM[OLMYPUNLILULMP[Z
WYV]PKLKI`[OLJVTWHU`s5VZLUÌ
[LUJLVM[OL.LYTHUJVYWVYH[LNV]LYUHUJL
JVKLHZHTLUKLK1\ULHUK1\UL
5VHZHTLUKLK1\UL 
;OPZYLJVTTLUKH[PVUOHZUV[ILLUJVTWSPLK
^P[O[VKH[LILJH\ZL[OL[V[HSYLT\ULYH[PVUVM
[OLL_LJ\[P]LIVHYKHUKP[ZJVTWVZP[PVUI`
MP_LKHUKWLYMVYTHUJLÌYLSH[LKJVTWVULU[ZPZ
L_WSHPULKPU[OLUV[LZ[V[OLJVUZVSPKH[LKMPUHUJPHS
Z[H[LTLU[Z/V^L]LY[OLJVTWLUZH[PVUYLWVY[
^PSSPUM\[\YLuPLMVY[OLMPYZ[[PTLMVY[OLMPZJHS
`LHY uPUJS\KLPUMVYTH[PVUVU[OLUH[\YL
VM[OLMYPUNLILULMP[ZWYV]PKLKI`[OLJVTWHU`
r+LWLUKPUNVU[OLZWLJPMPJZVM[OLLU[LYWYPZL
HUK[OLU\TILYVMP[ZTLTILYZ[OLZ\WLY]PZVY`
IVHYKZOHSSMVYTJVTTP[[LLZ^P[OZ\MMPJPLU[
L_WLY[PZLs5VZLU[LUJL.LYTHUJVYÌ
WVYH[LNV]LYUHUJLJVKL
r;OLZ\WLY]PZVY`IVHYKZOV\SKLZ[HISPZOHUH\KP[
JVTTP[[LL^OPJOPUWHY[PJ\SHYKLHSZ^P[OPZZ\LZ
VMHJJV\U[PUNYPZRTHUHNLTLU[HUKJVTWSPHUJL
[OLULJLZZHY`PUKLWLUKLUJLYLX\PYLKVM[OLH\KPÌ
[VY[OLPZZ\PUNVM[OLH\KP[THUKH[L[V[OLH\KP[VY
[OLKL[LYTPUH[PVUVMH\KP[WYPVYP[PLZHUK[OLHNYLLK
MLL;OLJOHPYVM[OLH\KP[JVTTP[[LLZOV\SKWVZÌ
ZLZZZWLJPMPJRUV^SLKNLVMHUKL_WLYPLUJL^P[O
[OLHWWSPJH[PVUVMHJJV\U[PUNWYPUJPWSLZHUKPU[LYÌ
UHSH\KP[PUNWYVJLK\YLZs5VZLU[LUJLZ
HUK.LYTHUJVYWVYH[LNV]LYUHUJLJVKL
r;OLZ\WLY]PZVY`IVHYKPZYLX\PYLK[VMVYTH
UVTPUH[PVUJVTTP[[LLJVTWVZLKL_JS\ZP]LS`VM
ZOHYLOVSKLYYLWYLZLU[H[P]LZ^OPJOWYVWVZLZ[V
[OLZ\WLY]PZVY`IVHYKZ\P[HISLJHUKPKH[LZMVYP[Z
LSLJ[PVUUVTPUH[PVUZ[V[OLHUU\HSNLULYHS
TLL[PUN5V.LYTHUJVYWVYH[LNV]LYUÌ
HUJLJVKL
7VYZJOLOHZHOPNOS`X\HSPMPLKHUKKLKPJH[LK
Z\WLY]PZVY`IVHYK^P[OQ\Z[[^LS]LTLTILYZ
)LZPKLZ[OLL_LJ\[P]LJVTTP[[LL^OPJOH[[OL
ZHTL[PTLHJ[ZHZHWLYZVUULSJVTTP[[LLHUK
PU\YNLU[JHZLZHSZVKLJPKLZVU[YHUZHJ[PVUZ
YLX\PYPUN[OLHWWYV]HSVM[OLZ\WLY]PZVY`IVHYK
[OLZ\WLY]PZVY`IVHYKOHZUV[ZL[\WHU`V[OLY
HKKP[PVUHSJVTTP[[LLZ[VKH[L;OLZ\WLY]PZVY`
IVHYKOHZUV^KLJPKLK[VZL[\WHUH\KP[JVTÌ
TP[[LLHUKHUVTPUH[PVUJVTTP[[LLIV[OVM
^OPJOZH[PZM`[OLHIV]LYLJVTTLUKH[PVUZVM
[OLJVKL
r;OLJVTWLUZH[PVUVM[OLTLTILYZVM[OLZ\Ì
WLY]PZVY`IVHYKZOV\SKILYLWVY[LKPUKP]PK\HSS`
PU[OLJVYWVYH[LNV]LYUHUJLYLWVY[Z\IKP]PKLK
I`JVTWVULU[Zs5VZLU[LUJL
.LYTHUJVYWVYH[LNV]LYUHUJLJVKLHZ