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Porsche Quarterly Operating Profit Jumps 22%
Porsche AG posted a €732 million ($893 million) operating profit in the second quarter of this year compared to €599 million ($731 million) in the same period of 2011.
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Porsche AG posted a €732 million ($893 million) operating profit in the second quarter of this year compared to €599 million ($731 million) in the same period of 2011.
Revenue grew 27% year over year to €3.7 billion ($4.5 billion) in the April-June period. Sales jumped 18% to 38,700 units. Operating margin shrank to 19.6% from 20.4%.
In the first half, operating profit jumped 21% to €1.3 billion ($1.6 billion), and revenue climbed 29% to €6.8 billion ($8.3 billion). Porsche remains among the world's most profitable carmakers even though its operating margin narrowed to 18.7% from an estimated 20% a year earlier.
Worldwide vehicle sales rose 23% to 68,900 units in the first six months of 2012, propelled by a 43% surge to 14,400 units for the new generation of the flagship 911 sports car. The U.S. remains Porsche's market with sales of 16,900 vehicles in the first half, followed by China at 15,600 units and Germany at 8,300 units.
Volkswagen AG plans this week to purchase the 50.1% of the sports car maker that it doesn't already own for €4.5 billion ($5.5 billion).
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