Porsche’s Turnover and Profit UpProvisional mid-year figures: Sports cars drive growth
Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, is continuing on the road to success. According to provisional figures, the manufacturer of sporty premium segment vehicles will record a Group pre-tax result of 274.0 million Euros in the first six months of the current 2005/06 fiscal year (August 1, 2005 to January 31, 2006), an increase of 11.3 percent over the 246.1 million Euros for the same period of the previous year. The result after tax, which in the same period last year was 148.3 million Euros, will rise by 13.0 percent to 167.5 million Euros. Dr. Wendelin Wiedeking, Porsche’s President and Chief Executive Officer, made this announcement at Friday’s annual general meeting of shareholders in Stuttgart.
According to the provisional figures, the Porsche Group’s turnover in the first half of the current fiscal year will rise by 15.0 percent to 3.25 billion Euros. The sales volume is predicted to increase by 16.8 percent to 41,750 vehicles. Once again, the sports cars proved themselves to be the driving force behind this growth. A total of 14,800 type 911 sports cars were sold, an increase of 20.2 percent on last year’s figure. The Boxster series demonstrated even greater vitality. Including the new mid-engined Cayman S coupe, sales rose by 155 percent to 9,740 vehicles. The Carrera GT, which ceases production at the end of April, sold 250 units (previous year: 284 vehicles). In the first six months of the current fiscal year, 16,960 Cayenne units were sold (minus 12.2 percent).
Porsche remains optimistic for the 2005/06 fiscal year overall. The company anticipates Group sales well in excess of 90,000 vehicles (previous year: 88,379 units). Both the Cayman S, which in the meantime has been launched on all markets, and the Cayenne Turbo S will provide the required stimulus for growth. The new top-of-the-range Cayenne model premiered at the beginning of this year at the motor shows in Los Angeles and Detroit, and is currently being launched on worldwide markets. Developing 521 bhp, it is the second most powerful production vehicle that Porsche has ever built (after the Carrera GT), and is the sportiest and most high-performance model in the entire Sport Utility Vehicles segment.
In the current fiscal year, Porsche is expecting an increase in turnover and in sales volume. In spite of the costs associated with the development of the Panamera sports coupe, earnings will again reach a high level.