Porsche’s Turnover and Profit Up AgainSports Car Manufacturer’s Growth continues in current Fiscal Year
Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, has continued its growth: in the first six months of the 2004/2005 fiscal year (August 1, 2004 to January 31, 2005), the sports car manufacturer will, according to provisional figures, record a Group pre-tax result of 225.0 million Euro, an increase of 6.5 percent over the 211.3 million Euro for the same period of the previous year. The result after tax will be 125.0 million Euro, 4.5 percent higher than in the previous year. Dr. Wendelin Wiedeking, Porsche’s President and Chief Executive Officer, made this announcement at today’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 has gone up by 3.4 percent to 2.95 billion Euro. Sales volume will probably increase by 9.7 percent to 35,660 vehicles, including 12,300 Type 911 sports cars (up by 19.5 percent), 260 Carrera GT high-performance sports cars (10 cars in the same period of the previous year) and 19,200 Cayenne sport utility vehicles (an increase of 13.3 percent). Boxster sales fell by 25.9 percent to 3,900 cars, since the latest models have only been launched successively on markets throughout the world since the end of November 2004.
Porsche remains optimistic for the full 2004/05 fiscal year. The company anticipates Group sales of at least 80,000 vehicles (76,827 were sold in the previous year), a growth in turnover and a continuing high level of earnings.