Porsche 2012 Annual Report Download - page 160

Financials
Notes to the consolidated fi nancial statements
Notes to the consolidated financial statements of
Porsche Automobil Holding SE for the fiscal year 2012
Basis of presentation
Porsche Automobil Holding SE (“Porsche SE” or the "company"), as the ultimate parent of
the Porsche SE group (Porsche SE and its subsidiaries), is a European Company (Societas Eu-
ropaea) and is headquartered at Porscheplatz 1 in 70435 Stuttgart, Germany. The company is
registered at the Stuttgart Local Court under HRB 724512. The business purpose of Porsche SE
was amended at the annual general meeting of the company on 25 June 2012 and since then
comprises the management of companies or the administration of investments in companies, in
particular companies operating in the following business fields or parts thereof:
· The development, design, manufacture and distribution of vehicles, engines of all kinds and
other technical or chemical products as well as of parts and components thereof;
· The provision of advice in the area of development and production, especially in the area of
vehicle and engine construction;
· The provision of advice on and development of data processing as well as the creation and
distribution of data processing products;
· The marketing of products using trademark rights;
· The provision of financial and mobility services;
· The exploitation, procurement, processing and distribution of raw materials used in the auto-
mobile industry;
· The generation and procurement of energy, especially of renewable energies,
as well as the trading of energy;
· The acquisition, holding and administration as well as the disposal of real estate.
The purpose of the company includes in particular the acquisition, holding and administra-
tion as well as the sale of investments in such companies, their combination under common
control and the provision of support and advice to them, including the provision of services on
behalf of such companies.
The company may also be active itself in the business areas specified. This does not apply
to banking transactions and financial services requiring approval. The company may limit its
activities to parts of the business fields specified above.
The company may engage in all kinds of business and take all measures that are related to
the business purpose or that it deems directly or indirectly useful for achieving that purpose. To
this end, it may also establish branches, in Germany and abroad, establish and purchase other
companies or acquire interests in such companies.
The amendment to the articles of association was entered in the commercial register on
23 July 2012 and is therefore effective.
The consolidated financial statements of Porsche SE as of 31 December 2012 were prepared
in accordance with International Financial Reporting Standards (IFRSs) as endorsed by the Euro-
pean Union. The standards published by the International Accounting Standards Board (IASB),
London, that have been endorsed as part of the comitology procedure and are applicable as of
the reporting date as well as the interpretations issued by the IFRS Interpretations Committee
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