October - December

Porsche honored with “Best of European Business Award”Average growth of fifteen percent over the last five years

Stuttgart/Berlin. Dr. Ing. h.c. F. Porsche AG, Stuttgart, has received yet another important accolade: Yesterday evening, the sports car manufacturer was honored with the “Best of European Business” award in the British Embassy in Berlin. The jury praised the unprecedented success enjoyed by the sports car manufacturer, which has generated average growth of fifteen percent in the past five years. “Despite rising competitive and price pressure in the global car market, Porsche has expanded its market share, focusing on new niches in the premium sector. As a result of the successful growth strategy, Porsche has increased its employee numbers from around 9,700 in 2000 to 11,700 in 2004,” read the juror statement.

Wolfgang Dürheimer, member of the Executive Board responsible for Research and Development accepted the award on behalf of the car manufacturer. Dürheimer: “We have used innovative ideas to develop a business system oriented to the company’s long-term goals, and thus created the conditions required to support continuous growth. The success of the business system depends very much on the motivation and skills of our employees. I would therefore like to dedicate this award to them.”

The “Best of European Business” competition was launched by Roland Berger Strategy Consultants, The Financial Times and Manager Magazin. Awards are presented for exemplary commercial achievements in the categories of growth, value generation, innovation and strategies for “New Europe”.