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Annual and Sustainability Report 2016 of Porsche AG

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Annual and Sustainability Report 2016 of Porsche AG SCAN THIS CHART – how to use the augmented reality options Augmented reality makes the fascination of Porsche an even more intense experience. Simply download the Porsche Newsroom App from the App Store or Google Play, select the augmented reality function in the menu and look out for the labels SCAN THIS CHART and SCAN THIS PAGE. View the labelled tables, diagrams and pages on the screen of your smartphone or tablet – SCAN and bring the content to life. THIS CHART Performance. Annual and Sustainability Report of Porsche AG 2016 Performance. Letter from the Executive Board of Porsche AG 6 Sustainability in practice is an overall strategic and encourage you, to confront, challenge and Important events 9 objective for Porsche. Economic success, f amiliarise you with the topics and theories that Outlook 15 environmental awareness and social responsibil­ an automotive company such as Porsche faces Business performance 16 ity are not opposing concepts for the company. in times of an industrial system breakdown. On the contrary, they are combined to form an What significance do origins have for the future? Sustainability strategy and sustainability management 25 overall idea that defines the company’s attitude. What about the spirit of enterprise? How much Strategy and organisation 27 empathy do leaders need? Where do the ben­ Stakeholder dialogue 32 Economic success is one of Porsche’s distinc­ efits of digitalisation begin and when the control Our way – management approaches in our spheres of activity 36 tive features, as is social compatibility. As a of people? Does “failure culture” mean allowing manufacturer of exclusive, powerful sportscars, failure to happen or making new ideas possible? Employees, Sport and Society 43 Porsche is committed to achieving greater Employees 44 acceptance of its company and products around For inspiration, consider the information re­ Sport and society 52 the world through socially and environmentally garding the Porsche philosophy within the responsible conduct. Responsible actions that triangle of electrification, digi talisation and net­ Research and development 57 benefit not only the company, but also the envi­ working, or consider our innovations in vehicle ronment and society, are not only what is production, or how Porsche is helping to Sales, Production, Procurement 65 expected by customers, business partners and develop a region. Sales 66 investors – they are also crucial for ensuring Production 68 competitiveness. The second volume is called “Performance” Procurement 72 and contains all events from the 2016 finan­ For the first time, Porsche has published a cial year. It contains trends, summaries, Financial Analysis 75 combined Annual and Sustainability Report. It explanations, key performance indicators and Net Assets 76 wishes to set an example – that the two sub­ documentation regarding Porsche’s overall Financial Position 78 jects belong together – not separately. commitment to sustainability in all facets of Results of Operations 80 the company. Economic strength, innovative vehicles, custom­ Financial Data 85 er focus, environmental protection and employee The two volumes may be different, but they Consolidated Income Statement 86 responsibility: Porsche sets the highest stand­ have one thing in common: communication on Consolidated Statement of Comprehensive Income 88 ards in all areas and wishes to undergo continu­ different levels. That is why some of the arti­ Consolidated Statement of Financial Position 90 ous, long­term improvement. cles offer you the opportunity to experience Consolidated Statement of Cash Flows 92 “augmented reality”. Information regarding this Consolidated Statement of Changes in Equity 94 You have two volumes in front of you: can be found on the relevant pages – where “Per spective” is intended to inspire, motivate surprises await you. Key Figures 97 Key economic figures 98 Key figures for environment and energy 100 Key figures for personnel and social matters 102 Further Information 105 The Supervisory Board 106 Emission and Consumption Information 108 GRI Content Index 110 Porsche AG Group – Brief Overview 112 About this report 114 Legal notice 115 5 Letter from the Executive Board of Porsche AG Dear all, Over the course of the last financial year, Porsche power of new technology. New variants of the 911 and surpassed itself once again. Our attractive product range Panamera, such as the Sport Turismo, as well as the new enabled us to exceed the high levels from the previous year. Cayenne signify our product philosophy of sporty, modern This was the result of a strong team. Focussing on devel­ mobility in 2017. We are now working on hybridising oping, manufacturing and selling exclusive, highly emotive our vehicle fleet. At the end of the decade, the first purely sportscars continues to be worthwhile. As a company , battery­powered Porsche Mission E will completely redefine Porsche is in perfect health. the segment of pioneering sports saloons in spectacular fashion. The Porsche Strategy 2018 provided the foundation for stability and value­creating growth. The company’s new Our innovations are driven by the world of motor racing. Strategy 2025 will build on this, marking the dawn of a new That’s how we’re able to secure our competitive edge on era. This strategy is paving the way for our continuing devel­ the roads. Our 18th overall victory in Le Mans and our opment from a manufacturer of exclusive sportscars to a second time winning the manufacturer and driver titles in provider of exclusive and sporty mobility solutions. Digitali­ a row at the sportscar World Endurance Championship (WEC) sation, electrification and connectivity are challenges that demonstrate Porsche’s superiority in the endurance testing we face and that we regard as opportunities. The main focus of new technologies, which are then incorporated directly of our strategic conduct is our aim of transposing the emo­ into series production. tional connection that our customers have with Porsche to a changed behaviour in terms of buying, ownership and use. Remaining permanently successful means that we must For almost 70 years, Porsche has been synonymous with understand and anticipate the needs and requirements of a unique product and driving experience. We see digitalisation our customers, align ourselves with these and have the as a historic opportunity to make Porsche even more inno­ relevant technology available. We must continue to develop vative and efficient, thereby increasing our profitability – a the skills and quality of our employees. This even means chance to secure sustainable workplaces, generate value for that we must keep on learning, reinventing ourselves and customers and bring about benefits for society and the cooperating with both large and small companies. Porsche environment. Porsche is developing into one of the leading Digital GmbH and the Porsche Digital Lab are pioneering providers of digital mobility solutions in the premium this change in thinking. In essence, this strategy means segment of the automotive industry. innovating at every level and in all sectors of the company. Industry 4.0, networked mobility, intuitive control concepts Record employment, new top figures for deliveries and sales, and the vehicle architectures of tomorrow are the key ele­ an operating result maintained at a high level and, even more ments of a digital ecosystem in which a host of new services Albrecht Reimold Lutz Meschke Oliver Blume Uwe-Karsten Städter important than sales, one of the best returns that the global and business models are developing. In the medium term, Production Deputy Chairman of the Executive Board Chairman of the Executive Board Procurement automotive industry has generated — these are the ideal Porsche plans to generate a double­digit percentage of sales Finance and IT conditions for our company. Our figures for 2016 epitomise through digital offerings. the power of our name, the enthusiasm for our products, the expertise of our team and the value of Porsche within the At Porsche, our future is shaped by our past. Only by being Volkswagen Group. Diminishing economic growth in crucial aware of who we were and who we are will we be able sales regions, concerns over political and economic stability to determine who we want to be. Tradition is our support. as well as the ongoing discussion regarding the extent and Passion is our drive. Knowledge is our capital. Michael Steiner Detlev von Platen Andreas Haffner responsibility of the diesel controversy within the Volkswagen Research and Development Sales and Marketing Human Resources Group and the general consequences of this cannot hide the Never has the legend of Porsche been more alive. fact that trust in the Porsche brand remains steadfast all over the world. The positive development across all relevant markets shows the dynamic effect of our strategy. The Executive Board of Porsche AG The highlights of the last financial year, namely the introduc­ tion of the mid­engine Boxster and Cayman model lines with the legendary 718 number, the world première and excep­ tionally successful sales launch of the second generation of our sporty Panamera luxury saloon and the presentation of our uncompromising 911 R driving machine symbolise our promise to combine the traditional Porsche spirit with the 6 Performance – Letter from the Executive Board of Porsche AG 7 Important events Outlook Business performance IMPORTANT EVENTS Dialogue and transparency With its new cor- play an important role. These areas will define the exclusive Due to the various construction measures required for the porate strategy, and sporty mobility of tomorrow. Yet the company will also new electric vehicle, Porsche is seeking open dialogue Porsche is setting continue to focus on its main goal of value­creating growth. with residents as well as an active exchange with local and Only by achieving such growth can Porsche make sustain­ regional politicians. The aim is to allay the concerns and itself ambitious able investments in innovative technologies, new products reservations of all parties involved and to create absolute targets to be and the company workforce.
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