Porsche has disclosed its performance for the the first nine months of the 2014 fiscal year stating that deliveries, revenue, and profit all are on the rise. The company owns up that being a sports car manufacturer is challenging in this era of tight emission regulations but developing and offering plug-in hybrid versions of its sports cars is building immunity to the company’s growth.
Within the first nine months of the year, Porsche delivered 135,642 cars, and saw a promising growth of 13%, 17%, and 2% in deliveries, revenue, and profit respectively.
More information is available in the press release below.
Porsche revenue and profit both up in the first nine months of 2014
Workforce now amounts to almost 22,000 employees
Stuttgart. Dr. Ing. h.c. F. 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. A total of 135,642 delivered sports cars represented an increase of 13 percent. Revenue grew by 17 percent to 12.24 billion euros and operating profit rose by two percent 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 percent.
Lutz Meschke, Member of the Executive Board – Finance and IT at Porsche AG, emphasized 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 percent 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,” predicted 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”, stressed 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: “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.”