Porsche employees get record-high €9,111 bonus after very successful year

Article by Christian A., on March 26, 2017

Last year was probably Porsche’s best year ever in terms of sales. Their factory in Stuttgart delivered 237,778 cars in total, which represents a six percent increase compared to the deliveries in 2015. And as we all know, each 911 sold gives them a net profit of $17,250, making it the company’s cash cow.

Porsche decided to share the success with their hardworking employees. The company will be rewarding around 21,000 employees with a really fat paycheck this time. Now, the amount isn’t random. In case you were wondering, Porsche decided to make this incentive match the figure on its iconic 911 model.

But no, they aren’t just offering €911, instead, each employee gets €9,111 (or $9,830), not a trivial amount at all. Wow, it must be pretty awesome to work in a company that is so generous. The employees won’t get the sum in one instance. The bonus will be divided into two components. A contribution of €700 ($755) will go to the Porsche VarioRente pension scheme or to individual pension schemes, while the bigger amount at exactly €8,411 ($9,075) will go directly into their bank accounts. That’s still a pretty good deal I say, particularly since it adds to the employees’ vital retirement fund.

The company had always been known to give out huge amounts as bonuses so this isn’t quire surprising. For instance, Porsche employees received bonuses of €8,911 in 2016, and €8,600 in 2015. But this year’s offer is just unbeatable, not even by any other company in the Volkswagen family. It is apparent that as their revenue improves, the more the company is willing to offer. Having said all that, the amount will of course differ and be adjusted depending on the employee’s length of service as well as their working hours for the company. Because it wouldn’t be fair if the newest employee gets the same amount the most hardworking veteran there does.

Porsche is proud to say that in 2016, revenues had gone up four percent to €22.3 billion (that’s equivalent to $24 billion) compared to the previous year. The operating result also had an increase of 14% to €3.9 billion ($4.2 billion). The rest of 2017 is twice as exciting as its new Panamera Sport Turismo had recently just become available. Following this release is the all-new Cayenne that the company will be introducing. Meanwhile, the 911 GT2 launch will capping off the year. Overall, everyone has been very optimistic about Porsche’s future.

Press Release

Bonus for Porsche employees

Porsche AG is once again sharing its profits with employees: After the most successful year in the company’s history, employees at Porsche AG will receive a voluntary bonus of up to EUR 9,111 gross. The good news was communicated by the Porsche Executive Board and Group works council.

There are two components to the bonus: EUR 8,411 will be paid out for the positive company result and for the exceptional performance of staff during the 2016 financial year. EUR 700 will be paid as a special contribution to the Porsche VarioRente pension scheme or to individual pension schemes.

During the 2016 financial year, the sports car manufacturer increased its deliveries by six per cent to 237,778 vehicles, achieving a revenue of 22.3 billion euro (an increase of four per cent). At the same time, the operating result rose disproportionately by 14 per cent to EUR 3.9 billion. Returns experienced particularly impressive growth, increasing from 15.8 per cent (2015) to 17.4 per cent. By the end of 2016, Porsche's workforce had grown by 13 per cent to 27,612 employees.

Uwe Hück emphasises the strong team performance
The bonus for 2016 will be paid to around 21,000 employees at Porsche AG, adjusted to their individual working hours and length of service at the company. “For Porsche, 2016 was an eventful, emotional and, above all, highly successful year. This was thanks to our employees, who enabled us to expand our attractive model range to include an array of new and exciting sports cars, such as the 911 Turbo and 911 R, the 718 Boxster and 718 Cayman as well as the Panamera”, says Oliver Blume, Chairman of the Executive Board of Porsche AG. “The expertise and passion of our staff forms the basis of a successful future for Porsche.”

Uwe Hück, Chair of the Group Works Council, emphasises the strong team performance: “Negotiating a bonus is never easy. However, this time it was particularly difficult to arrive at an outcome. In the end, no one in our large VW family received anywhere near as large a bonus as our employees at Porsche. We had to walk a very fine line during the negotiations. On the one hand, supporting the Group is very important to me, something that leads to us taking on staff from Audi and Volkswagen. On the other hand, we want to reward our staff for their outstanding achievement. The result was this extraordinary and one-off, but completely justified, bonus. The aim was to show solidarity for colleagues in the Group and at the same time to thank the staff at Porsche.”

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