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Porsche increases turnover and profitSports-car manufacturer remains on growth course again in the current 2003/2004 fiscal year

Stuttgart/Leipzig. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, remains on course for growth. According to provisional figures, Group profit before tax in the first six months of the current fiscal year (August 1, 2003 to January 31, 2004) will be 207.0 million Euro, an increase of 11.5 percent compared with the same period of the previous fiscal year (185.7 million Euro). Profit after tax will be 118.0 million Euro and will thus exceed the previous year's figure (102.0 million Euro) by 15.7 percent. These details were released by Porsche's President and Chief Executive Officer Dr. Wendelin Wiedeking at the company's Annual General Meeting held in Leipzig today.

According to the provisional figures, Group turnover will increase by 27.8 percent compared with the first half of the previous fiscal year (2.21 billion Euro), to approximately 2.82 billion Euro. Sales are expected to go up by 31.1 percent to a total of 32.410 vehicles, comprising 10,250 Type 911 cars (down by 25.9 percent), 5,250 Boxsters (down by 44.2 percent) and 16,890 Cayennes (compared with 1,484 in the same period of the previous fiscal year). Total production is scheduled to reach 36,510 vehicles (an increase of 31.7 percent), including 18,950 Cayennes.

For the complete 2003/2004 fiscal year the company expects Group sales to reach approximately 75,000 vehicles (previous year: 66,803) and for there to be further growth in turnover and earnings.

GO 2004-01-23