Porsche boosts revenue and profit by 25 per cent
The most successful fiscal year in the company’s history: 2015 was the fifth consecutive record year for Dr. Ing. h.c. F. Porsche AG. Sales revenue, operating profit and deliveries reached top levels as did employee numbers. Sales revenue increased to 21.5 billion euros (+25 per cent).
Operating profit improved to 3.4 billion euros (+25 per cent). Deliveries grew 19 per cent in 2015 to more than 225,000 vehicles. The number of employees reached 24,481 by the end of the year – nine per cent more than one year prior. At the presentation of the financial report in Stuttgart-Zuffenhausen, Oliver Blume, Chairman of the Executive Board of Porsche AG, spoke of “extraordinary results even by Porsche standards.”
In early 2016, Porsche is already continuing the excellent results of the past year. “Porsche is also in the current year on a successful course”, said Blume. Deliveries in the first two months of the year increased to more than 35,000 vehicles. This represents 14 per cent growth over the prior year.
Along with its sporty SUVs, the Macan and Cayenne, hopes also rest on the 911 sports car icon, the new 718 Boxster and 718 Cayman model line as well as the Panamera.
Despite a positive start in 2016, Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board responsible for Finance and IT, cautioned against “exaggerated expectations.”
Above all, it is necessary to brace for investments in the billions of euros in the first pure battery-electric Porsche model, the Mission E. For Meschke, the project represents “a great step toward the future of our brand. At first, these expenditures will not be offset by any income from vehicle sales, because the Mission E will not arrive on the market until the end of the decade.”
“Today, we expect sales revenue to rise slightly in fiscal year 2016 and profits to reach the same level as in the past year”, forecasted Meschke. Blume added: “High delivery numbers are not our primary objective. They are the logical consequence of our corporate strategy and an expression of our attractive product range.”
Meschke emphasised that Porsche attaches greater importance to the company’s earnings power. Return on sales before taxes was 16 per cent in 2015. This means that Porsche continues to be the world’s most profitable carmaker – despite large investments in production sites and development projects.
Porsche is making enormous investments in its future. In fiscal year 2015, research and development outlays increased to 2.15 billion euros. At the same time, net liquidity in the automotive division – i.e. gross liquidity less financial liabilities and excluding the financial services business in each case – improved from 195 million euros on December 31, 2014 to 1.5 billion euros on December 31, 2015.
“We have achieved our strategic goals of the last years. Within the scope of Strategy 2025, we are now realigning the company for the future”, explained Porsche CEO Blume. “We focus on customer enthusiasm, financial return and safe jobs. In doing so, we consequently follow our way of value-creating growth.”
Frank Scholtys- photo Porsche