Stuttgart. The chief financial officer of Dr. Ing. h.c. F. Porsche AG, Lutz Meschke, was elected “CFO of the Year” at the cross-sectoral event for financial decision makers “600Minutes CFO” in Munich. The award underscores the high earning power of the company and the rigorous cost discipline prevailing in it, turning Porsche AG into one of the most profitable car makers in the world.
With earnings before taxes of 2.65 billion euro and an operating return on sales of 18 percent, the 2012 fiscal year has been the most successful in the company's history. In the ongoing year, Porsche AG is expanding its plant in Leipzig and developing the sporty SUV Macan as well as the 918 Spyder super sports car. Despite the required investments, the car manufacturer is going to maintain its high profitability. “The healthy scalable cost structure with relatively low fixed costs constitutes an important factor of success for Porsche AG,” CFO Meschke explained on the occasion of the award presentation in Munich.
As the topmost supplier in the premium segment, Porsche is currently writing a new chapter of the company's success story with the presentation of the Panamera S E-Hybrid. “With investments in the development of the plug-in hybrid technology, we can sustainably reduce CO2 emissions as well as fuel consumption, thus safeguarding our strong market position and high profitability in the long term,” Meschke continued.