Porsche 2010 Annual Report Download - page 62

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Group management report
Risks relating to the business development
The risks relating to the development of Por-
sche SE’s business as the parent company of the
Porsche SE group are closely connected to the risks
relating to the significant investments in Porsche
Zwischenholding GmbH and Volkswagen AG. Acting as
a holding company also entails additional risks. Plea-
se refer to the report on the opportunities and risks
of future development in this management report for
a description of the risks.
Risks arising from financial instruments
Porsche SE is exposed to particular risks,
partly on account of its management function within
the Porsche SE group. These are described in the
report on the opportunities and risks of future devel-
opment in this group management report, along with
the risks relating to the significant investments held
by Porsche SE.
Proposed dividend
The statutory financial statements of Por-
sche SE as of 31 December 2010 report a distribut-
able profit of 439,527,668.81 euro. A proposal for
the appropriation of profit was not available for sub-
mission to the annual general meeting by the time
the financial statements were authorized by the
executive board.
Dependent company report drawn up
As in previous years, in accordance with
Sec. 312 German Stock Corporation Act (AktG),
Porsche SE has drawn up a report on relations with
companies affiliated with holders of its ordinary sha-
res (a dependent company report). The conclusion of
this report is as follows: “In accordance with the
circumstances known to it when the transactions
stated in the report were conducted, Porsche Auto-
mobil Holding SE has rendered or, as the case may
be, received reasonable payment. The company was
not disadvantaged by these transactions. There were
no reportable measures in accordance with Sec. 312
(1) Sentence 2 German Stock Corporations Act (AktG)
in the short fiscal year.”
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