Porsche chases new recordsTurnover, sales and profit are growing
Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, will post new record figures in the current 2005/06 fiscal year (ending July 31). In the first ten months of the year under review, the manufacturer of sporty premium cars succeeded in increasing production, sales and turnover. From August 1, 2005 to May 31, 2006 Porsche Group’s turnover was up 15.3 per cent, at 5.96 billion euros, compared with the same period the previous year. Profit has also risen once again.
The new Cayman S is a worldwide success
In the first ten months of the current fiscal year, the Group’s unit sales rose by 14.2 per cent to 79,564 vehicles (previous year: 69,685 units). Above all, this positive development reflects the successful introduction of the new generations of sports cars, which have met with an outstanding response from customers the world over. At the end of May, sales of the Porsche 911 were up 21.4 per cent to 27,896 vehicles. Sales of the Boxster series increased by 87.8 per cent to 22,846 vehicles, including 10,883 of the new mid-engined Cayman S coupe, which was only launched on the international market in November 2005. Another 353 high-performance Carrera GT sports cars, the production of which was phased out in May, were also sold (previous year: 549 units).
The Cayenne again reported excellent sales figures in the first ten months of the 2005/2006 fiscal year: at 28,469 units, sales of this sporty all-terrain vehicle were a mere 16.3 per cent below those for the same period the previous year. Unlike many of its competitors, Porsche achieved this level despite not offering ex-works discounts to boost sales.
Significant production increases
Porsche’s production volume also increased again. In the first ten months of the current fiscal year, a total of 85,160 vehicles were produced (plus 16.8 per cent). A total of 29,905 Porsche 911s were built (plus 29.8 per cent), while the figure for the Cayenne was 29,711 units (minus 12.2 per cent). Production of the Boxster series rose by 63.1 per cent to 25,254 vehicles – including 12,887 units of the new Cayman S. Of the Carrera GT, 290 units were built (previous year: 571 units).
As a result of this growth, the Porsche Group once again created more jobs. Corrected to take account of the sale of CTS Fahrzeug-Dachsysteme GmbH, Bietigheim-Bissingen, the number of staff rose by 367 compared with the same period the preceding year to reach 11,149. CTS Fahrzeug-Dachsysteme GmbH and its 900 or so employees are now part of Magna International Inc., Aurora, Ontario. The sale took effect in the second half of the 2005/06 fiscal year. Investments in the Porsche Group in the first ten months – including those in its financial services division – totaled 814,3 million euros (previous year: 805,8 million euros), a high level once again.
For the full fiscal year 2005/06, Porsche is set to post new all-time records in terms of sales, turnover and profit. It is anticipated that a total of substantially more than 90,000 vehicles will be sold; the figure last fiscal year was 88,379. Turnover will also reach a new high, although admittedly certain factors, such as the sale of CTS, must be taken into account. Moreover, a high level of investment in the development of the Panamera sports coupe will have repercussions well beyond the current fiscal year.
In the 2006/07 fiscal year, Porsche anticipates added momentum from the new 911 GT3 and the basic version of the Cayman, both of which are to be launched successively on markets around the world as from this summer. These expectations apply particularly to the new 911 Turbo, which will be available from European dealerships as of June 24, 2006. It will then be launched in the US and elsewhere on July 8, 2006. Porsche is expecting the top model in its sports car range to sell 6,000 units worldwide in the next fiscal year.