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Porsche Reports Record Sales, Revenue, Profits
Porsche AG posted all-time high vehicle deliveries (162,100, up 15%), revenue (€14.3 billion, up 3%) and operating profits €2.6 billion, up 6%) for 2013.
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Porsche AG posted all-time high vehicle deliveries (162,100, up 15%), revenue (€14.3 billion, up 3%) and operating profits €2.6 billion, up 6%) for 2013. Operating return on sales was 18%.
Employment at the Volkswagen AG unit also jumped 11% to a record 19,500 at year-end.
Porsche says the net liquidity of its automotive operations improved to a negative €899 million from a negative €1.8 billion at the end of 2012. The company's medium-term goal is to repay all debt and finance growth from cash flow.
Porsche predicts another record sales year in 2014. Deliveries in January-February rose 3% to 23,300 units, and volume is likely to rise when the company debuts its Macan small crossover in April.
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