Porsche Revenue, Profit Rise in First 9 Months

By Bennett Oghifo

Porsche AG remained on its successful course during the first nine months of the 2014 fiscal year, with deliveries, revenue and profit all again going up, the company has said.

According to it, a total of 135,642 delivered sports cars represented an increase of 13 per cent. “Revenue grew by 17 per cent to 12.24 billion euros and operating profit rose by two per cent to 1.93 billion euros. At 21,950 employees, staff numbers also reached a new high. A year ago the number of people working at Porsche was still 18,882. The year-on-year growth is 16 per cent.”
Lutz Meschke, Member of the Executive Board - Finance and IT at Porsche AG, emphasised the company’s profitability, which continues to be strong. “Despite our very high expenditures, for example for the new drive system technologies and expansion investments for Porsche’s sustainable growth, our operating profit is continuing to show a year-on-year increase after nine months of 2014, and with an operating margin of 16 per cent we are continuing to hit our strategic target.”

The financial situation would not change significantly in the final quarter of 2014, added the CFO, looking ahead. “I anticipate that we will end the 2014 business year with an operating profit slightly above that of last year,” said Lutz Meschke.
The Chairman of the Executive Board at Porsche AG, Matthias Müller, gave as the reason for the high development costs for new technologies the pioneering role that Porsche has vigorously sought and now taken on in respect of the new, modern plug-in hybrid vehicles. “With the Cayenne S E-Hybrid, the Panamera S E-Hybrid and the 918 Spyder, we now already offer three plug-in models, the only brand in the world to do so in the premium segment,” said the CEO. Porsche was thus sending a clear signal to customers all over the world and also providing clear input into the public debate on reducing CO2 emissions.

Matthias Müller said, “The emissions regulations set a particularly significant challenge to us as a sports car manufacturer, but we have accepted this challenge in good time, as it is our aim to produce what at any given juncture are not only the sportiest vehicles in the competitive environment but the most technologically advanced ones as well.”

Culled from: http://www.thisdaylive.com