Porsche sees stable earnings for 2014

Article by Andrew Christian, on March 17, 2014

Porsche expects its earnings to stabilize this year as it makes investments the United States and China. The sports carmaker will concentrate its investment spending on adding distribution outlets in emerging markets, with around 30 new dealerships intended for China by 2015. Porsche said in a statement that investments in the US will reach $100 million.

Porsche posted a 6-percent rise in operating profit in 2013 to EUR2.58 billion ($3.58 billion), and its 18-percent return on sales was the highest margin of any division at Volkswagen Group. Porsche has managed to sustain earnings growth as weak demand for volume brands didn’t affect demand for upscale units.

Porsche said that its operating profit for this year will be "at least" at the 2013 level. "We're well prepared for the current fiscal year," chief financial officer Lutz Meschke said. Porsche posted a 15-percent rise in global deliveries in 2013 to a record 162,145 cars and SUVs. The carmaker saw demand for the Boxster roadster and Cayman sports car more than doubled last year and rolled out fresh variants of the 911.

In February, Porsche chief executive Matthias Mueller said the carmaker will top 200,000 in annual deliveries in 2015, three years earlier than initially planned as boosted by the new Macan compact SUV that will be available next month. [source: automotive news - sub. required]

Topics: porsche, sales

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