sports car builder
Porsche: Less sales, more operating profit
Porsche is aiming for a return on sales of at least 15 percent for the 2022 fiscal year. Photo: Bernd Weißbrod/dpa
© dpa-infocom GmbH
Porsche is satisfied – they are “right on track despite all the global challenges”. But the outlook for the year as a whole is difficult, they say.
Despite falling sales, the sports car manufacturer Porsche earned more from operations at the start of the year.
As the company reported on request in Stuttgart, sales in the first three months rose by around four percent to 8.04 billion euros compared to the same period last year. The operating profit was 1.47 billion euros after 1.26 billion euros previously. The return on sales, which relates sales and earnings, rose by two points to 18.2 percent.
“Despite all the global challenges, we are right on course,” said CFO Lutz Meschke. The outlook for the year as a whole is difficult. “Nevertheless, we are aiming for a return on sales of at least 15 percent in the 2022 financial year,” said Meschke. The entire industry is affected by the shortage of semiconductors and other electronic components. In addition, the economic consequences of the Russia-Ukraine war are worrying.
Porsche had already announced that fewer cars were delivered in the first quarter. 68,426 vehicles went to customers, which was a minus of five percent compared to the previous year. The manufacturer is considered a pearl of return for the VW Group and should be listed on the stock exchange before the end of this year.