Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, is continuing its upward growth. The manufacturer of sports cars and sporty off-road vehicles increased production, sales and turnover during the first ten months of the 2004/05 fiscal year (July 31), despite persistently difficult worldwide economic conditions. Between August 1, 2004 and May 31, 2005, Group turnover rose by 5.4 percent against the same period during the previous year to 5.34 billion euros. Operating profit too was again good.
The sports cars as an engine for growth – the Cayenne is enjoying worldwide success
During the first ten months of the current fiscal year, Group sales increased by 13.3 percent to a total of 69,685 vehicles (previous year: 61,496 units). This figure primarily reflects the successful launch of the new sports car generations, which have met with an outstanding response from customers worldwide. At the end of May, sales of the 911 series had risen by 21 percent to 22,973 vehicles. Sales of the Boxster, which was only launched onto global markets at the end of November 2004, also grew, in this case by 16 percent to 12,166 vehicles. The high-performance Carrera GT sports car sold 549 units during the first ten months (previous year: 124 vehicles).
The Cayenne is enjoying continuing high demand around the world. At the end of May, this sporty all-terrain vehicle had sold 33,997 units (up by 6.6 percent). Once again, more than half of Cayenne sales were in North America and Germany. Spain, Italy and the Middle East region reported the highest growth rates, with Cayenne sales increasing by some 30 percent in each case.
Production extended – a larger workforce
Porsche has again extended its production volume. A total of 72.942 vehicles were built during the first ten months of the current fiscal year (up 9.8 percent), with the Cayenne responsible for the largest share with 33,855 units (down 2.2 percent). Production figures for the Type 911 rose by 12.1 percent to 23,033 vehicles, while a total of 15,483 Boxsters (up 39.2 percent) and 571 Carrera GT were built (previous year: 174 units). Porsche Group's growth curve is also mirrored in the number of employees, which rose by 1.3 percent to 11,686 compared to the end of May 2004. New jobs were created primarily in the services division and in foreign subsidiaries. Capital investment – including that of financial services subsidiaries – totaled 942.3 million euros in the first ten months (previous year: 941.7 million euros), thereby achieving a high level once again.
Porsche is heading toward an all-time high in sales during the current fiscal year 2004/05. It is anticipated that a total of more than 80,000 vehicles will be sold compared to 76,827 the previous year. All three model series are contributing to the company's growth. It is also anticipated that turnover will reach a new record level. The company is also expecting a high level of earnings again this year. Beyond the current fiscal year, the new all-wheel model variants of the 911, which are to be introduced from October on to markets worldwide, will increase the attractiveness of the 911 series. The mid-engine coupé Cayman S, to be launched at the end of November, will give the sports car division further momentum.