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ANNUAL REPORT 2013

Table of contents

  • Page 1
    A NNU AL REPO RT 2013

  • Page 2

  • Page 3
    06 // ANNUAL REPORT PORSCHE AG 2013

  • Page 4
    P O R S C H E - M O V I N G E M O T I O N

  • Page 5
    ... 052 Most. Wanted. 058 Sales, production and procurement 066 EXPERIENCE PERFECTION. Committed to quality 072 Around the world in 50 years 078 Employees, sustainability and environment 086 SENSE PERFORMANCE. Class victories 096 Legendary achievement at Le Mans 104 Financial analysis Net assets 111...

  • Page 6
    004 // ANNUAL REPORT PORSCHE AG 2013 LETTER FROM THE CHAIRMAN OF THE EXECUTIVE BOARD

  • Page 7
    ... Hybrid racing car last summer, the 2014 Porsche Team will be at various starting lines of the World Endurance Championships, including the legendary Le Mans track in June 2014. The toughest endurance race in the world will serve as our laboratory and test bench for our hybrid-vehicle developments...

  • Page 8
    006 // ANNUAL REPORT PORSCHE AG 2013

  • Page 9
    ...h.c. F. Porsche AG from left to right: LUTZ MESCHKE Finance and IT UWE-KARSTEN STÄDTER Procurement THOMAS EDIG Deputy Chairman of the Executive Board Human Resources MATTHIAS MÜLLER Chairman of the Executive Board BERNHARD MAIER Sales and Marketing WOLFGANG HATZ Research and Development DR...

  • Page 10
    ... SE Member of the Board of management of Volkswagen AG Finance and Controlling DR. FERDINAND OLIVER PORSCHE Investment management HANS-PETER PORSCHE Ingenieur DR. RER. POL. H.C. FRANCISCO JAVIER GARCIA SANZ Betriebswirt Member of the Board of management of Volkswagen AG Procurement * Employee...

  • Page 11
    ...KAPFER* Project manager, drivetrain Boxster model series Deputy Chairman of the general works council of Dr. Ing. h.c. F. Porsche AG Chairman of the group executive board of Dr. Ing. h.c. F. Porsche AG Chairman of the Weissach works council Member of the SE works council of Porsche Automobil Holding...

  • Page 12
    010 // ANNUAL REPORT PORSCHE AG 2013 DIALOGUE EXPLORING NEW HORIZONS Matthias Müller talks with Dr. Ulf Merbold, the only German to have gone into space three times.

  • Page 13
    EXPLORING NEW HORIZONS // 011

  • Page 14
    ... // ANNUAL REPORT PORSCHE AG 2013 Matthias Müller met with Dr. Ulf Merbold at the Zuffenhausen production plant, where the 918 Spyder is being hand-built. The two men share a love for technology and striving for perfect solutions. Both pursued ambitious goals. Ulf Merbold is the only German to...

  • Page 15
    ... your cars also benefit from our research. Müller: Really? Merbold: The ceramic brakes that you offer in your models were originally developed by the German Aerospace Center. This extremely heat-resistant material was first used for the exterior skin on space capsules. The ceramic protective layer...

  • Page 16
    ... balance. More of our employees than ever before can organize their respective work-life situations better by means of a customized work schedule. Part of this program also includes setting up day care centers for children. We are also building a new training center that can accommodate more than...

  • Page 17
    ... of the rankings of private companies in terms of highest investments in research and development worldwide. By the way, among the top ten are five companies from the US - the Volkswagen Group is the only one from the EU. Merbold: I'm also speaking about structural conditions. I'm most interested in...

  • Page 18
    016 // ANNUAL REPORT PORSCHE AG 2013 "In Germany, the automobile industry is the number one driver of innovation." M AT T H I A S M Ü L L E R Merbold: What really bothers me is the fact that the EU wants to spend more than 380 billion euro in agricultural subsidies by 2020. Wouldn't it be ...

  • Page 19
    ...whole world what is possible when politics and industry pull together in the same direction. Of course, I'm not saying that the EU has to immediately set up an Apollo program. ...ller's father was a racing director at DKW, a former German car manufacturer. As a teen, Merbold frequently went to watch ...

  • Page 20
    ... 911 model series achieved an increase of 22 percent to 10,442 new vehicles. The strongest growth driver was the market launch of the all-wheel model 911 Carrera 4, with 3,213 new vehicles delivered. Due to the successful market launch of the new Cayman generation in the USA, deliveries to customers...

  • Page 21
    ... place in Atlanta in 2012, construction work was in full swing during the reporting year. With this project and the Porsche Experience Center in Los Angeles, which is also scheduled to open its doors in 2015, Porsche will further expand its market presence in the USA and offer customers even more...

  • Page 22
    020 // ANNUAL REPORT PORSCHE AG 2013 a 12-percent decrease on the prior-year figure, delivering 3,036 new vehicles. Demand for the 911 and Panamera model series was particularly weak. Despite the drop in demand, Porsche was able to considerably increase its market share in all segments. France: ...

  • Page 23
    ... with 1,440 deliveries to customers, the Boxster/Cayman model series contributed significantly to the successful annual result of Porsche Japan - with a year-on-year increase of 113 percent. China: Continued growth trajectory China remained Porsche's second-largest sales market in 2013 and continued...

  • Page 24
    ... in the Porsche AG group increased in the reporting year by 9 percent to 165,808 units. At the Leipzig plant, 81,916 vehicles of the Cayenne model series, 24,798 units of the Panamera and the first 312 vehicles of the Macan rolled off the line. In Stuttgart-Zuffenhausen, 29,751 sports cars of the...

  • Page 25
    ... of Porsche racing cars as well as services for road vehicles from Zuffenhausen. Since 2013, MantheyRacing has supported Porsche factory entry at the WEC sports car world championships. Bond issued In the reporting year, Porsche Financial Services Inc., domiciled in Atlanta, Georgia (USA), issued...

  • Page 26
    024 // ANNUAL REPORT PORSCHE AG 2013 A W A K E N C U R I O S I T Y.

  • Page 27
    025

  • Page 28
    ...components is controlled by a sophisticated software package. Still half-asleep, he reaches for his smartphone on the nightstand, opens the "Porsche Car Connect" app and see the latest info. The Panamera has a full battery and it's already perfectly air-conditioned - just like it was programmed last...

  • Page 29
    EFFICIENCY COMBINED WITH PERFORMANCE AND DRIVING PLEASURE // 027 Porsche charging dock: Green energy for the Panamera S E-Hybrid's battery.

  • Page 30
    ...the Porsche charging dock, get behind the wheel, push the key in to the left-hand side of the steering wheel, and then comes that first moment of joy that only the E-Hybrid can provide. Place the key in the starting position, the displays on the instrument panel light up and indicate that the car is...

  • Page 31
    ...can cover the distance with zero emissions in a new, sophisticated way. The underground garage under the office building in the city offers charging stations. He parks the Panamera here during the day, plugs in the battery, and knows that his car will be ready for the electrically powered drive home...

  • Page 32
    ...of speed or a long haul is really required. The V6 has no secondary role; it is the main power source. And it is even able, after you press the "E-Charge" button, to charge the battery if it is empty - just in time to enter a city, where vehicle access to downtown is restricted to emission-free cars...

  • Page 33
    ..., as can the energy-efficient preliminary air-conditioning system if it is connected to a charging socket. Once again, the driver can't help but smile. He made the right decision for his personal mobility by getting this car. Porsche excels at this task and does the job beautifully, just as he likes...

  • Page 34
    032 // ANNUAL REPORT PORSCHE AG 2013 Porsche Panamera S E-Hybrid The Porsche Panamera S E-Hybrid represents the newest generation of hybrid vehicles. It has a combustion engine and an electric motor and a powerful battery that means you can drive considerable distances - up to 36 kilometers - ...

  • Page 35
    EFFICIENCY COMBINED WITH PERFORMANCE AND DRIVING PLEASURE // 033

  • Page 36
    034 // ANNUAL REPORT PORSCHE AG 2013

  • Page 37
    ... PRESENTS WHY THE NEW MACAN IS MY PORSCHE CAST BE R NHARD MAI ER M E M BE R O F TH E E X E CUTIV E...E R OVERA L L VE H I CL E CO N CE P T ENGINEERED BY PORSCHE // MADE IN GERMANY MY MACAN THERE IS HUGE ENTHUSIASM FOR THE NEW SERIES. FOR THE FIVE PEOPLE WHO NEED TO KNOW, THE REASON IS VERY SIMPLE: ...

  • Page 38
    ...// ANNUAL REPORT PORSCHE AG 2013 "Macan customers want to drive a sports car and still have the interior space of a compact SUV." Bernhard Maier Member of the Executive Board Sales and Marketing The new Macan is my Porsche because with it, we are safeguarding our success for the future. Porsche...

  • Page 39
    ... characteristic of our brand. An outstanding product forms the basis of our sales and marketing work in the more than 760 Porsche Centers worldwide. Individual customer-oriented procedures build on what Porsche vehicles already bring to the overall Porsche brand experience. In this way, we are...

  • Page 40
    .... Obviously, Porsche customers deserve nothing less than a veritable sculpture on wheels. The Macan has the best proportions in its seg- ment - real Porsche proportions. At first glance, you can see that it is a Porsche. Why is that? We worked on the flat, coupélike silhouette for a long time. The...

  • Page 41
    ... that is normally only found in super sports cars. It shows Porsche's strength: designers and developers working together to create the perfect sports car. It makes me proud and it's a lot of fun to be involved in such a success story. I look forward to seeing our new Porsche Macan out on the road...

  • Page 42
    040 // ANNUAL REPORT PORSCHE AG 2013 Dr. Manfred Harrer Head of Vehicle Dynamics and Performance The new Macan is my Porsche because it's a sports car among compact SUVs. That's a powerful statement, but one that we, as a sports car brand, can express with confidence. No other vehicle in its ...

  • Page 43
    MY MACAN // 041 "It has the sporty genes of the brand, it's a true all-rounder in off-road conditions, and it also offers perfect comfort."

  • Page 44
    042 // ANNUAL REPORT PORSCHE AG 2013 Christin Schoof Vehicle Control Systems The new Macan is my Porsche because we in the Vehicle Control Systems department were involved with this model from the very first prototype all the way to the production startup. I will never forget the moment when the ...

  • Page 45
    MY MACAN // 043 "The key thing when starting up the production curve is not the quantity, but the quality."

  • Page 46
    044 // ANNUAL REPORT PORSCHE AG 2013 "When I saw the very first design sketches three years ago, I knew that I wanted to have a hand in this project."

  • Page 47
    ..., which extends out over the headlights, was not only an exciting job for the body development engineers, but also a challenge in terms of vehicle safety, package, quality and production. The ability to manufacture the hood's large interior and exterior sheet metal panels with the extremely diverse...

  • Page 48
    046 // ANNUAL REPORT PORSCHE AG 2013 RESEARCH & DEVELOPMENT Development work in 2013 focused on the new Macan model series, the new 918 Spyder plug-in hybrid super sports car, the Panamera S E-Hybrid, the first plug-in hybrid vehicle in the luxury segment, and the introduction of the new ...

  • Page 49
    RESEARCH & DEVELOPMENT // 047 EMISSION AND CONSUMPTION DATA OF THE NEWLY INTRODUCED VEHICLES Model Output kW (hp) Fuel consumption urban (l/100 km) 13.1 11.8 13.9 12.5 13.2 13.2 13.4 13.4 13.8 12.2 18.9 Fuel consumption extra-urban (l/100 km) 7.5 6.9 7.7 7.1 7.7 7.7 7.8 7.8 7.1 6.7 8.9 ...

  • Page 50
    048 // ANNUAL REPORT PORSCHE AG 2013 The interplay of the three power units is controlled by an intelligent management system. To best exploit these very different approaches, the Porsche developers have defined five operating modes, which can be activated via a "map switch" on the steering wheel...

  • Page 51
    RESEARCH & DEVELOPMENT // 049 1.58 1.3 1 1.05 RESEARCH AND DEVELOPMENT COSTS IN BILLION EURO 2011 2012 2013 The chassis components, tuning, weight distribution, and brakes allow the Macan to take on an exclusive position as the sports car in its class. No other vehicle in this market segment ...

  • Page 52
    050 // ANNUAL REPORT PORSCHE AG 2013 E N J O Y I N D I V I D U A L I T Y.

  • Page 53
    051

  • Page 54
    ... the Managing Directors of Porsche Financial Services (PFS), meet at the PFS head office in Bietigheim-Bissingen to discuss the results of the last fiscal year. Besides being responsible for the German market, PFS also manages the worldwide financial services business at Porsche AG. CUSTOM-TAILORED...

  • Page 55
    ... years of experience as a premium financial services provider, it was only logical to assign PFS with the responsibility for working with other premium brands within the Volkswagen Group in 2011. In this way, sister brands Bentley, Lamborghini and Bugatti also benefit from our established structures...

  • Page 56
    ... // ANNUAL REPORT PORSCHE AG 2013 Moser: Cooperation with the premium Group brands is already a real success story. From the start, we offered financial services for Bentley, Lamborghini and Bugatti under their respective brand labels in our established markets in Germany, Italy and Switzerland...

  • Page 57
    ... in with the Porsche AG's Strategy 2018 in that it supports volume growth and global market coverage from the finance and sales side of things. Moser: Currently, our Porsche location in Bietigheim represents the ideal symbiosis of car sales and financial services under one roof. PFS therefore plays...

  • Page 58
    ... REPORT PORSCHE AG 2013 Meschke: This model is especially significant in China. In the foreseeable future, China will become our biggest single market worldwide. PFS will have to offer suitable financial products here. For that reason, a key focus in 2014 will be to expand the financial services...

  • Page 59
    ... do it simply because they would then have to build permanent parking garages. Meschke: That's comparable with the Lufthansa Service for first-class passen- gers or HON Circle members who are chauffeured in a Panamera or Cayenne from the terminal directly to the airplane, or are picked up right at...

  • Page 60
    ... // ANNUAL REPORT PORSCHE AG 2013 "It was the best moment of my entire life in terms of cars. And it shows how important customer loyalty is to Porsche." Terence Ku talks about the moment when he learned that he would own a Porsche 911 Club Coupe SPECIAL EDITIONS MOST. WANTED. Every Porsche is...

  • Page 61
    ... the number of founding members of the first two clubs in 1952, a special series 911 was built in 2012 and the purchase rights were raffled off among Porsche Club members worldwide. Twelve handpicked 911 Club Coupes refined by Porsche Exclusive would find ecstatic owners around the world, with...

  • Page 62
    ... Exclusive Customer Center in Zuffenhausen. Several thousand Porsche Club members from around the world had vied for the right to purchase one of the limited edition cars. Raffling off the exclusive edition has no precedent in Porsche's history, although the 911 Club Coupe had a prior role model...

  • Page 63
    M O S T. W A N T E D . // 061 911 SPEEDSTER SERVING AS TEMPLATE FOR THE 911 SPORT CLASSIC WAS NONE OTHER THAN THE LEGENDARY 911 CARRERA RS 2.7

  • Page 64
    ... a shortened windshield, altered side windows, and a modified chassis, Porsche developed a brand new, manually operated roof as well as an aluminum hood. The 356 vehicles, produced in "Pure Blue" and "Carrera White", pay tribute to the original model number. And once again, they sold in an instant.

  • Page 65
    ... the year the Porsche 911 was first built, thus making it more available than previous models built in smaller batches. Terence Ku from Hong Kong was also celebrating a special type of anniversary when he received his 911 Club Coupe in the summer of 2013. He would be taking delivery of his car at...

  • Page 66
    ... won the World Championship title in 1984 and 1985. The street-legal 935 was based on a Porsche 911 Turbo, with chassis and body parts taken from a 935, and a modified 934 engine tuned to deliver 409 hp. Including the customized "Brilliant Red" paint job, full-leather "Creme Caramel" interior, burl...

  • Page 67
    ...strictly limitededition 997-type 911 Speedster was presented at the Paris Motor Show. The 991-type 911 Club Coupe is current proof that expert craftsmanship and a passion for detail are the forces that motivate the Porsche Exclusive specialists at the Zuffenhausen production plant. They are the ones...

  • Page 68
    ... the Porsche centers play a key role in delivering and ensuring these high support standards. Customer satisfaction with Porsche products, purchases and services is monitored around the globe and end-to-end, creating the information base needed for measures that customers can perceive directly and...

  • Page 69
    ... year 2013, Porsche produced a total of 165,808 vehicles, 9 percent more than in the comparable prior-year period. All vehicles of the 911 and 918 model series as well as parts of production of the Boxster rolled off the line at the main plant in Stuttgart-Zuffenhausen. A total of 41,729 sports cars...

  • Page 70
    ... shop for the sports cars went into operation in the fall of 2011. Production of the exclusive small series, which is limited to a total of 918 high-tech vehicles, kicked off at the beginning of 2014. Porsche AG's general development plan at the Zuffenhausen site, which comprises total investments...

  • Page 71
    ... large number of activities aimed at ensuring the quality of purchased parts in series production were performed in 2013. Thanks to a transparent information policy, regular supplier events for suppliers and quality reviews, supplies for all vehicle plants and new start-ups were ensured at all times...

  • Page 72
    070 // ANNUAL REPORT PORSCHE AG 2013 EXPERIENCE PERFECTION.

  • Page 73
    071

  • Page 74
    072 // ANNUAL REPORT PORSCHE AG 2013 PREMIUM COMMITTED TO QUALITY The name Porsche stands for the highest quality. It always has the objective of satisfying the customer to the utmost degree - as befits a premium brand.

  • Page 75
    ...down to the fundamental question: What makes Porsche quality so special? It's time to pay a visit to Corporate Headquarters in Stuttgart-Zuffenhausen and meet with Michael Neumayer, Head of Corporate Quality. He should know the answer. He discusses extensively how Porsche quality is composed of the...

  • Page 76
    ... The Cayenne and Panamera came third in their categories. With those results, Porsche has the best brand rankings of all car manufacturers. This kind of success is no coincidence. Porsche pays close attention to product evaluations, whether they come directly from customers or independent institutes...

  • Page 77
    ...of customers. And then one also has to consider the fact that quite a few Porsche models represent an extremely good investment. Take the 911 RS 2.7 for example, which cost 34,000 deutschmarks in 1973; an original model in good condition would currently fetch at least 350,000 euro. Many sports cars...

  • Page 78
    ...// ANNUAL REPORT PORSCHE AG 2013 4 SUPREMACY Supremacy is a "soft" factor, and that's why it's all the more important to substantiate its various aspects with facts so as to manufacture the corresponding products. This occurs for example by means of market research, which helps the brand to adapt...

  • Page 79
    ... central console that appears in all current Porsche models. The value that Porsche places on the interior is shown by the fact that the Zuffenhausen plant has its own saddlery, where experts handcraft the covering of the vehicle's interior with high-quality leather, which can come in exotic colors...

  • Page 80
    078 // ANNUAL REPORT PORSCHE AG 2013 15/06/2013 SHANGHAI 911 WORLD TOUR AROUND THE WORLD IN 50 YEARS On this five-decade anniversary, taking a first-generation 911 on a tour was an honor. Its itinerary took the car on a journey through nine countries on four continents.

  • Page 81
    AROUND THE WORLD IN 50 YEARS // 079 22/11/2013 LOS ANGELES

  • Page 82
    ... obtained and the leaky line was replaced. As an aside, it should be noted that the situation proved that supplying any Porsche with replacement parts works - regardless of the model year. "A world tour with a vintage car also means implicitly trusting problem-free technology," says Werner. "But...

  • Page 83
    AROUND THE WORLD IN 50 YEARS // 081 13/02/2013 PARIS

  • Page 84
    082 // ANNUAL REPORT PORSCHE AG 2013 15/03/2013 SWITZERLAND Model year 1967, fully preserved in its original state, with 70,000 miles on the clock, sand-beige-colored exterior. A worthy representative for the 50th anniversary story of "Follow the 911". "The car wasn't allowed to have much more ...

  • Page 85
    ... in the process of disintegrating. The English summer rain could do nothing to harm the car, even on an itinerary through the United Kingdom with seven racetracks as ports of call. A second set of flags was the only "replacement part" that the organizers in Stuttgart had placed in the trunk out of...

  • Page 86
    084 // ANNUAL REPORT PORSCHE AG 2013 A HUNDRED PORSCHES FOLLOWED THEIR NOBLE PREDECESSOR OVER THE HARBOUR BRIDGE IN SYDNEY. 15/09/2013 SYDNEY

  • Page 87
    ..., near Los Angeles, in August was of course home turf for the long-term Californian car. In peak years, every fourth 911 was snapped up by buyers located between San Francisco and San Diego. In November, it would be headed to its second home for the LA Auto Show. In the meantime, the markets on the...

  • Page 88
    ... solutions for every life situation. Porsche employees can also use this service to provide support if they have to care for relatives, for example. Flexible arrangements regarding employees' place of work and working hours is also a focus at Porsche. In the fiscal year 2013, the option of taking...

  • Page 89
    ... of Porsche's corporate success. During the reporting year Porsche therefore continued to pursue close cooperation with key organizations such as Formula Student Germany, the international student organization AIESEC and the Foundation of German Business. Providing the best possible support for...

  • Page 90
    ...open dialogue. Ideas Management has become an integral part of the team leader/master workshops, where all questions relating to the subject are answered. The number of suggested improvements received in 2013 remained at a high level, helping to enhance the quality of our products and the efficiency...

  • Page 91
    ... levels Porsche AG and its subsidiaries. Annual evaluations provide the basis for organizational measures and target-group-specific health promotion measures. In the course of the management development programs, the seminar series about mental health in the workplace line supervisors are trained to...

  • Page 92
    .... Porsche is enabling the resumption of the popular Rosental open-air concerts following a three-year hiatus. The Grand Concerts, led by conductor Alexander Shelley, will present popular works from program of "Last Night of the Proms". Admittance to the summer concerts is free for everyone. Close...

  • Page 93
    ...'s and Master's programs. PAC forms the platform for systematically training the next generation of managers for the German Porsche Centers. ENVIRONMENT Electromobility Porsche AG supports the project aimed at establishing Germany as the leading provider and leading market for electromobility by...

  • Page 94
    ... of the production plant. Numerous internal information events and technical training measures in the field of environmental protection were held during the reporting year. An information market was offered within the scope of the "Porsche Warm Up" induction program for new employees. The department...

  • Page 95
    ... to the initiative. The expansion at the Leipzig site, with the new body shell and paint shop production systems, involved many efficiency-enhancing and resource-friendly measures. The plant expansion brought a total annual reduction in carbon emissions of 11,637 metric tons compared to conventional...

  • Page 96
    094 // ANNUAL REPORT PORSCHE AG 2013 SENSE PERFORMANCE.

  • Page 97
    095

  • Page 98
    096 // ANNUAL REPORT PORSCHE AG 2013 MOTOR SPORT CLASS VICTORIES Fitting for the 911's 50th anniversary, Porsche celebrated a double victory in the GT class under difficult conditions at the 24 Hours of Le Mans. And so, the current 911 generation seamlessly follows on from the racing triumphs of...

  • Page 99
    CLASS VICTORIES // 097

  • Page 100
    ... cheering on cars and drivers here in the annual 12-hour race for sports and GT cars. Now, it's only the seagulls who are circling the infield, filling up on bits of food left behind by visitors and becoming plumper than they already were. A lone black Porsche is out doing laps. It has no number and...

  • Page 101
    ... factory team to an international motorsports race. The Motorsport Division based in Weissach joined up with the team headed by Olaf Manthey, who has considerable racing experience. The "Porsche AG Team Manthey" put two new Porsche 911 RSRs on the track for the 2013 FIA World Endurance Championships...

  • Page 102
    0100 // ANNUAL REPORT PORSCHE AG 2013 AT LE MANS, PORSCHE IMPRESSED WITH ITS RELIABLE PERFORMANCE, BUT ALSO HAD LUCK ON ITS SIDE.

  • Page 103
    ...in the racing world. Porsche's stake will allow both parties to jointly share the highest quality standards and personnel resources. In the 2014 season, two Porsche 911 RSRs from Manthey's Porsche team will once again head to the starting line in the GT class of the FIA World Endurance Championship...

  • Page 104
    ...AG 2013 With 16 overall victories at the 24 Hours of Le Mans, Porsche remains the most successful car manufacturer in the history of this classic endurance race held in western France. This unique achievement is to be continued with the 919 Hybrid. Its drivers will include long-time Porsche factory...

  • Page 105
    CLASS VICTORIES // 103 Beaming winners: Bernhard Maier, Matthias Müller, Wolfgang Hatz, and Dr. Wolfgang Porsche (from left to right)

  • Page 106
    104 // ANNUAL REPORT PORSCHE AG 2013 RACE LAB LE MANS LEGENDARY ACHIEVEMENT AT LE MANS Magical places exert a magnetic pull, and Le Mans is one of those places. After 16 years, Porsche is heading back to the venue of its greatest racing triumphs with a factory team. It will be entering the 919 ...

  • Page 107
    L E G E N D A RY A C H I E V E M E N T AT L E M A N S // 0105 Mulsanne Kink Michelin Chicane Mulsanne Hunaudières PlayStation Chicane Indianapolis Circuit de la Sarthe Arnage Tertre Rouge Porsche curves Maison blanche Chcane Ford Chicane Dunlop curve

  • Page 108
    106 // ANNUAL REPORT PORSCHE AG 2013 16 OVERALL VICTORIES AND 103 CLASS VICTORIES FOR PORSCHE Winners right from the start. A success story without equal connects the world's most famous endurance race and Porsche. The tire marks in the winner's lane extend back in time - back to the earliest ...

  • Page 109
    L E G E N D A RY A C H I E V E M E N T AT L E M A N S // 107 1977: First place in the overall class category with Jürgen Barth, Hurley Haywood and Jacky Ickx in a Porsche 936/77 Spyder THE MOST SUCCESSFUL DRIVERS WITH 4 VICTORIES EACH FOR PORSCHE: JACKY ICKX AND DEREK BELL

  • Page 110
    108 // ANNUAL REPORT PORSCHE AG 2013 The winning Porsche 956 LHs take first, second and third in the overall class category on the home stretch at the 1982 Le Mans.

  • Page 111
    ... Le Mans also came from Zuffenhausen. The 961 was based on the high-performance 959 sports car. With a super-lightweight yet simultaneously rigid carbon fiber chassis, in 1998, the 911 GTI reeled in Porsche's most recent overall victory. Vast amounts of data from using a double-turbocharged engine...

  • Page 112
    110 // ANNUAL REPORT PORSCHE AG 2013 FINANCIAL ANALYSIS

  • Page 113
    ... from 2,179 million euro to 2,590 million euro. The increase mainly relates to capitalized development costs. The largest additions pertain to the Macan, Carrera and Panamera model series. Property, plant and equipment increased in comparison to the prior year by 625 million euro to 3,935 million...

  • Page 114
    ... 2013. The equity of the Porsche AG group increased by 1,637 million euro to 9,039 million euro compared to the prior-year reporting date. The profit after tax and profit transfer of 525 million euro as well as a change in the cash flow hedge reserve and the marking to market of availableto-sale...

  • Page 115
    ...A N A LY S I S // 113 NET ASSETS OF THE PORSCHE AG GROUP â,¬ million 31/12/2013 % 31/12/2013 1) % Assets Intangible assets Property, plant and equipment Financial assets Leased assets Receivables from financial services Other receivables and assets Income tax assets Deferred tax assets Non...

  • Page 116
    ... year. The main contributors to the increase in unit sales and revenue were the Boxster and 911 model series. The Porsche AG group significantly increased its revenue in the regions of North America and rest of the world in particular. The relatively small increase in revenue in comparison to the...

  • Page 117
    ...of tax to average invested assets of the automotive division, was 30 percent (prior year: 33 percent). The return on equity net of tax was 24 percent (prior year: 25 percent). RESULTS OF OPERATIONS OF THE PORSCHE AG GROUP FY 2013 â,¬ million Revenue Cost of sales Gross profit Distribution expenses...

  • Page 118
    116 // ANNUAL REPORT PORSCHE AG 2013 FINANCIAL DATA SUMMARY OF THE CONSOLIDATED FINANCIAL STATEMENTS OF PORSCHE AG WITHOUT THE NOTES

  • Page 119
    ... OF PORSCHE AG FOR THE PERIOD FROM 1 JANUARY TO 31 DECEMBER 2013 â,¬ million FY 2013 FY 2012 1) Revenue Cost of sales Gross profit Distribution expenses Administrative expenses Other operating income Other operating expenses Operating profit Finance costs Other financial result Financial result...

  • Page 120
    118 // ANNUAL REPORT PORSCHE AG 2013 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF PORSCHE AG FROM 1 JANUARY TO 31 DECEMBER 2013 â,¬ million Profit after tax Revaluations from pension plans recognized in other comprehensive income Revaluations from pension plans recognized in other ...

  • Page 121
    ... // 119 CONSOLIDATED STATEMENT OF FINANCIAL POSITION OF PORSCHE AG AS OF 31 DECEMBER 2013 â,¬ million 31/12/2013 31/12/2012 1/1/2012 Assets Intangible assets Property, plant and equipment Financial assets Leased assets Receivables from financial services Other receivables and assets Income...

  • Page 122
    ... provisions Change in other provisions Change in leased assets Change in receivables from financial services Cash flows from operating activities Investments in intangible assets and property, plant and equipment Change in equity investments Cash received from disposal of intangible assets and...

  • Page 123
    ... Cash flows from financing activities Change in cash funds Exchange-rate related change in cash funds Cash funds as of 1 January 2013 and 1 January 2012 Cash funds as of 31 December 2013 and 31 December 2012 Cash and cash equivalents at the end of the period Securities, loans and time deposits Gross...

  • Page 124
    122 // ANNUAL REPORT PORSCHE AG 2013 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY OF PORSCHE AG FROM 1 JANUARY TO 31 DECEMBER 2013 â,¬ million Subscribed capital Capital reserves As of 1 January 2012 Change in accounting due to IAS 19 R After adjustment on 1 January 2012 Effects of currency ...

  • Page 125
    ...I N A N C I A L D ATA // 123 Retained earnings Equity before non-controlling interests Noncontrolling interests Group equity Accumulated profit Revaluations from pension plans Available-for-sale financial assets Other comprehensive income Cash flow hedges Currency translation 1,358 50 1,408...

  • Page 126
    124 // ANNUAL REPORT PORSCHE AG 2013 FURTHER INFORMATION

  • Page 127
    F U R T H E R I N F O R M AT I O N // 125

  • Page 128
    126 // ANNUAL REPORT PORSCHE AG 2013 EMISSION AND CONSUMPTION Model Output kW (hp) Fuel consumption urban (l/100 km) 11.4 10.6 12.2 11.2 Fuel consumption extra-urban (l/100 km) 6.3 5.9 6.9 6.2 Fuel consumption combined (l/100 km) 8.2 7.7 8.8 8.0 CO2emissions combined (g/...

  • Page 129
    ... 270 G E C E D B F F F Plug-in hybrid Model Output kW (hp) Power consumption (kWh/100 km) Fuel consumption combined (l/100 km) 3.1 3.1 3.0 CO2emissions combined (g/km) 71 72 70 CO2efficiency class (Germany) A+ A+ A+ Panamera S E-Hybrid 918 Spyder 918 Spyder (Weissach package) 1) 2) 306 (416) 652...

  • Page 130
    128 // ANNUAL REPORT PORSCHE AG 2013 KEY PERFORMANCE INDICATORS OF THE PORSCHE AG GROUP 2013 2012 2011 Deliveries 911 Boxster/Cayman Cayenne Panamera units units units units units 162,145 30,205 25,704 84,041 22,032 141,075 25,457 11,825 74,763 29,030 ...

  • Page 131
    ... Published by Dr. Ing. h.c. F. Porsche AG Porscheplatz 1 D-70435 Stuttgart Germany Phone +49 711 911-0 www.porsche.com Managers and contact persons Hans-Gerd Bode, Head of Public Relations and Press Frank Scholtys, Head of Financial Press and Investor Relations Concept & design heureka GmbH, Essen...

  • Page 132
    DR. ING. H.C. F. PORSCHE AG BOX D-70432 STUTTGART - GERMANY PHONE +49 711 911-0