Porsche posts increase in revenue and operating profit

May 04, 2014 - 2:57:46 am

DOHA: Porsche AG has started off the year and continues to step up its deliveries, revenue and operating profit in the first three months of 2014. With 38,663 vehicles, the deliveries beat the value of the previous year by 4.5 percent. Revenue rose by one-fifth to €3.93bn in the first quarter of the current fiscal year. 

The operating profit grew by 22 percent to €698m. The number of jobs, which stood at around 13,000 three years ago, rose once again and exceeded the threshold of 20,000 employees in February 2014. 

Lutz Meschke, Member of the Executive Board Finance and IT of Porsche AG, underscored the earning power of the company reflected in the high return on sales of almost 18 percent. 

Meschke pointed out, though, that Porsche will have to bear substantially rising labour costs and write-offs due to the launch of the new Macan model range. “In addition to that, there are high expenditures for 

meeting the CO2 requirements and substantial investments in the build-out and modernisation of the Zuffenhausen, Leipzig 

and Weissach locations,” 

Meschke said. 

Matthias Müller, Chairman of Porsche AG, explained the requirement of the substantial investments and development expenditures, amounting in each case to significantly more than €1bn in the ongoing fiscal year: “We are focusing on fulfilling the promise of our brand – to offer the sportiest and technologically cutting-edge vehicles in our 

segments – on a long-term basis. The improvement of fuel 

efficiency as well as a responsible use of resources constitute integral parts of the strategy 

of Porsche.” 

Looking at the development of the markets, the Porsche CEO is convinced that the sports car manufacturer will continue to grow especially in its largest sales markets United States and China. Müller: “Overall, the sales of Porsche will rise once more in the 2014 fiscal year.” 

The Peninsula