Porsche 2012 Annual Report Download - page 252

Financials
Notes to the consolidated fi nancial statements
The Porsche and Piëch families, in their capacity as holders of ordinary shares in Porsche
SE provided €2,245 million to Porsche SE by subscribing to new ordinary shares in the course of
the capital increase in the comparative period. This contribution is presented under supplies and
services rendered. Apart from that, there were only immaterial trade transactions between the
Porsche SE group and the Porsche and Piëch families and their affiliates.
The disclosure requirements under IAS 24 also extend to persons, and their close family
members, who have the power to exercise significant influence over the entity, i.e. who have the
power to participate in the financial and operating policies of the entity, but do not control it. In
the fiscal year 2012 and in the comparative period, this concerns members of the supervisory
board and the executive board of Porsche SE as well as their close family members. No transac-
tions requiring disclosure were conducted by entities of the Porsche SE group with members of
the supervisory board or executive board as key management personnel or with any other enti-
ties having these persons on their executive or supervisory board and over which Porsche SE
has no significant influence or does not exercise joint control. The same applies for close family
members of these persons.
The disclosure requirements pursuant to IAS 24 also include persons and entities over which
the Porsche SE group can exert a significant influence or joint control.
In the reporting period, Porsche SE exercised significant influence over the Volkswagen
group (associate) and, until the contribution of its holding business operations to Volkswagen
AG, joint control over the Porsche Holding Stuttgart GmbH group (joint venture). With regard to
the effects of the contribution of holding business operations of Porsche SE, reference is made
to the explanations in the section "Consolidated group".
All relationships to the respective parent companies and subsidiaries of both of these
groups are presented. Supplies and services rendered include dividends and profit distributions
totaling €540 million received from these groups (prior year: €485 million). The advance profit
distribution resolved as part of the restructuring and contribution is not included therein. In the
reporting period, it is taken into account in the goods delivered and services rendered as part of
the income from the contribution of the holding business operations of Porsche SE to
Volkswagen AG, of which an amount of €3,430 million is attributable to transactions between
Porsche SE and the Volkswagen group. Expenses from transactions between Porsche SE and
the Porsche Holding Stuttgart GmbH group that relate to the contribution of the holding busi-
ness operations of Porsche SE to Volkswagen AG of €17 million were taken into account in the
goods and services received in the reporting period. The obligations directly resulting from the
contribution are recorded under liabilities at €499 million (see also note [20]).
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