Porsche boosts nine months profits to 1.5 billion euroLutz Meschke, Chief Financial Officer: Yet further proof of our company’s high profitability
Stuttgart. In the first nine months of the 2011 financial year,
Dr. Ing. h.c. F. Porsche AG, Stuttgart, achieved an operating profit of 1.51 billion euro, exceeding the comparable previous year’s figure of 1.21 billion euro by 25 per cent. Lutz Meschke, Porsche AG’s Chief Financial Officer verdict on this significant growth was “yet further proof of our company’s high profitability”. As Meschke emphasised, “this result impressively underlines the sustainable quality of our growth trajectory, which we will continue throughout the full 2011 financial year. Our assumption is that 2011 sales revenue and operating profit will significantly exceed the previous year’s levels”.
During the reporting period, Porsche AG’s turnover rose by 20 per cent to 7.93 billion euro. Sales increased by 26 per cent to 85,872 vehicles. The uplift in deliveries was 31 per cent: between January and September 2011 inclusive, 90,972 new cars were delivered to customers. Matthias Müller, Chairman of the Board of Management of Porsche AG, confirmed the forecast for the full year 2011: “For the first time in its history, Porsche will sell over 100,000 vehicles.” As the very attractive model offering is being further enhanced this year with the launch of the new generation of the 911 Carrera this December, the course is set fair for growth, said Müller.
In the first nine months of the 2011 financial year, the Cayenne SUV proved to be Porsche’s most successful model line with sales of 43,924 units, an increase of 74 per cent. The Gran Turismo Panamera managed 18,750 units, up six per cent. For life-cycle related reasons, sales of the 911 declined by twelve per cent to 13,777 vehicles. The Boxster model line generated sales of 9,421 units (minus one per cent). The Boxster accounted for 5,631 and the Cayman 3,790 vehicles.
During the reporting period, growth was spread across all significant regions but with the largest increase again being posted by China, with vehicle sales up 82 per cent to 17,683 units. Total sales in the Asia/ Rest of the World region rose by 54 per cent to 31,954 vehicles. American sales grew by 17 per cent to 24,839 vehicles, 22,307 units (plus 15 per cent) being accounted for by North America. But in Europe as well, the overall growth rate in the reporting period was in double digits with sales of 29,079 vehicles, up eleven per cent. In the German market, sales in the period from January to September 2011 increased by five per cent to 10,422 units.
Vehicle production increased by 38 per cent to 93,799 units. 67,432 new vehicles were accounted for by Leipzig alone: In the first nine months of the financial year, 46,223 more units of the Cayenne, or 86 per cent, rolled off the production line in Saxony than in the same period the year before; in the case of the Panamera the increase was twelve per cent, reaching 21,209 vehicles. The Zuffenhausen factory shipped 15,709 vehicles of the 911 model line, which translates into a six per cent increase. Production of the Boxster model line increased to 10,658 vehicles overall, plus 16 per cent, of which 6,249 units were accounted for by the Boxster and 4,409 vehicles by the Cayman.
As at 30 September 2011, the workforce numbered 14,346 employees, nine per cent more than the balance sheet date on 31 December 2010.