In the first three months, Porsche delivered 80,767 vehicles to customers.
(Photo: IMAGO/Arnulf Hettrich)
Hamburg The declining shortage of parts and higher deliveries have given Porsche unprecedented impetus. At the beginning of the year, sales and operating profit each increased by a good quarter, as the sports car manufacturer announced on Wednesday.
With well-filled coffers, the VW subsidiary looks ahead optimistically and confirms the forecast of an operating return in the range of 17 to 19 percent for the year as a whole – provided that the economically challenging conditions do not worsen significantly.
CFO Lutz Meschke also confirmed the long-term goal of a return on sales of more than 20 percent. “The markets remain volatile around the world – we are all the happier with our numbers.”
In the first quarter, Porsche benefited from significantly higher deliveries and persistently high prices for its vehicles. With group sales increasing by 25.5 percent year-on-year to a good ten billion euros, the operating result climbed by 25.4 percent to 1.8 billion euros.
In the first three months, Porsche delivered 80,767 vehicles to customers, 18 percent more than a year ago. Cash inflow (net cash flow) increased by around 84 percent to 1.4 billion euros.
Porsche justified the high increase with the fact that the cash flow in the automotive sector was affected a year ago by the upheavals in the value chain. Despite higher costs, Porsche kept the return stable at 18.2 percent.
More price increases
At a telephone conference with journalists and analysts on Wednesday, CFO Lutz Meschke announced price increases of between four and eight percent in Europe and the USA for the second half of the year. With the introduction of the Cayenne SUV in China, Porsche’s second largest market after the USA, they also want to push through higher prices. The VW subsidiary also expects further momentum from favorable currency effects.
More: Porsche Holding meets with great interest with Bond debut