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Porsche Zips to Record Sales, Profit in 2015
Porsche AG reports its revenue and operating profit in 2015 surged 25% each to €21.5 billion ($24 billion) and €3.4 billion ($3.8 billion), respectively.
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Porsche AG reports its revenue and operating profit in 2015 surged 25% each to €21.5 billion ($24 billion) and €3.4 billion ($3.8 billion), respectively.
Deliveries of the company’s sports cars and high-performance SUVs climbed 19% to more than 225,000 units last year. Porsche notes its vehicle deliveries through the first two months of 2016 are up 14%.
But Porsche, a unit of Volkswagen AG, cautions against “exaggerated expectations” this year as it invests heavily to introduce the Mission E all-electric car by the end of the decade. The company faces relatively minor exposure to the cost of VW's diesel emission cheating scandal.
Finance chief Lutz Meschke predicts flat profits and only a slight increase in revenue for Porsche in 2016. He says the company’s greater goal is to maintain its 16% pretax return on sales and stature as the industry’s most profitable carmaker.
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