Porsche Continues on the Fast Track911 Model Series looking at Record Sales – Sales of New Cayenne up Significantly
Stuttgart. In the current 2006/07 year of business ending on 31 July,
Dr. Ing. h.c. F. Porsche AG, Stuttgart, will maintain customer deliveries and revenue at the very high level achieved in the previous year of business. Despite the changeover in the Cayenne model series, the German manufacturer of sporting premium cars reports Group revenue of Euro 5.98 billion in the first ten months of the year under review, slightly exceeding the previous year's figure of Euro 5.96 billion.
911 highly successful the world over
Accounting for a total of some 79,540 units, customer deliveries by the Porsche Group in the period 1 August 2006 – 31 May 2007 again reached the previous year's figure of 79,564 units. An important point to be considered in this context is that production of the first generation of the Cayenne sports utility was discontinued in November 2006, with sales of the new model generation not starting until 24 February 2007 in Europe and Asia and 3 March on the American continent. Just how successfully the new Cayenne appeals to customers the world over is clearly borne out by the fact that sales of this model series as of the end of May 2007 already amounted to 25,436 units, just 10.7 per cent below the previous year's figure. By comparison, sales in the first six months of the 2006/07 year of business were 41.4 per cent below the previous year's figure on account of the upcoming model change.
The Porsche 911 is even more successful, Porsche's traditional model series aiming for a new sales record in the 2006/07 year of business: In the first ten months of the year, sales of the 911 were up 12.2 per cent to 31,287 cars. Sales of the Boxster series, in turn, amounting to 22,806 units as of the end of May, were only slightly below the previous year's figure, the two Cayman and Cayman S mid-engined coupés accounting for 13,586 units sold.
Slight decrease in production
Overall production volume was down slightly in the period under report, amounting to 83,815 units in the period from 1 August 2006 – 31 May 2007 (minus 1.6 per cent). Production of the 911 was 32,461 units (plus 8.5 per cent), production of the Cayenne amounting to 28,000 units (minus 5.8 per cent). The overall number of cars built in the Boxster series was down 7.5 per cent to 23,351 units, among them 13,287 units of the Cayman and Cayman S.
The Porsche Group was once again able to create new jobs in the period under report, the number of employees increasing as of the end of May by 3.4 per cent over the previous year to 11,525. New employees were hired particularly in Research and Development, as well as Services.
Capital expenditure by the Porsche Group – including Financial Services – amounted to Euro 1.09 billion in the first ten months of the current year of business (previous year: Euro 814.3 million), once again achieving a high overall level.
After increasing in the former 2005/06 year of business to the record figure of Euro 2.1 billion, the pre-tax result amounted to an even more substantial Euro 1.59 billion in the first half of the current year of business alone. In the words of Porsche's President and CEO
Dr. Wendelin Wiedeking: “Considering the ten months of the year so far, it is not difficult to predict that our annual earnings on 31 July 2007, that is at the end of this business year, will be significantly – and I mean: significantly – better than the Euro 2.1 billion in the previous year."
This result will however be characterised by special factors as in the preceding periods, such as proceeds from stock hedging transactions relating to the acquisition of Volkswagen stock and the revaluation of the Company's share in Volkswagen, which alone amounts to Euro 520 million.
Entering the upcoming 2007/08 year of business, Porsche expects further momentum from the new 911 Turbo Cabriolet scheduled to make its debut in markets the world over on 8 September, as well as the ongoing development and penetration of new global markets.