Porsche boosts deliveries, revenue, and profit in first quarter

April 29, 2015


Sports car manufacturer now has close to 23,000 employees

Atlanta. Dr. Ing. h.c. F. Porsche AG has begun the 2015 year successfully - with growth in deliveries, revenue, and profit in the first quarter. From the beginning of January to the end of March, the sports car manufacturer delivered 51,102 new vehicles, which is 32 percent more than in the previous year. Revenue in the first three months of 2015 increased 29 percent to 5.08 billion euros, and operating profit surpassed the prior year figure by ten percent, reaching 765 million euros. The number of employees has grown to 22,945, an increase of 12 percent.

Matthias Müller, the Chairman of the Executive Board at Porsche AG, explained that the sports car manufacturer would stay on course for a successful business year in 2015. A contributing factor towards 2015 expectations is the continued success of the Porsche Macan, which was introduced last year and will be available for a full twelve months this year. Other highlights are new versions of existing models. They include the GT vehicles - the 911 GT3 RS and Cayman GT4 - as well as the Boxster Spyder and the Panamera Edition. "Our successful vehicle derivatives strategy lets us satisfy the wishes of many customers who want to own a comprehensively personalized vehicle," said CEO Matthias Müller.

Lutz Meschke, Member of the Executive Board Finance and IT at Porsche AG, called attention to the company's continuously high profitability. "The first quarter result of 765 million euros reflects our healthy cost structure and the high profitability of Porsche," the CFO explained. In light of the present currency trends, Lutz Meschke is also optimistic that "with regard to the full fiscal year, we will reach last year's profit at a minimum. We will continue to hold to our strategic returns target of 15 percent," explained Meschke.

Key factors on the debit side are outlays for future model series and future technologies, as well as high investments in the extension and renovation of Porsche production facilities. Research and development costs have nearly doubled at Porsche over the past three years, in particular due to expenses for alternative drives. "In 2015, research and development costs will once again run at around 9 to 10 percent of sales," said Meschke.

 

About Porsche Cars North America Inc. | One Porsche Drive, Atlanta, GA 30354 USA
Established in 1984, Porsche Cars North America, Inc. (PCNA) is the exclusive U.S. importer of Porsche 918 Spyder, 911, Boxster and Cayman sports cars, the Macan and Cayenne SUVs, and Panamera sports sedans. Headquartered in Atlanta, Georgia since 1998, PCNA is also home to the first Porsche Experience Center in North America featuring a module-based 1.6 mile driver development track, business center, human performance center, and fine dining restaurant. PCNA employs approximately 300 people who provide parts, service, marketing, and training for 189 dealers. They, in turn, work to provide Porsche customers with a best-in-class experience that is in keeping with the brand's 65-plus year history and leadership in the advancement of vehicle performance, safety and efficiency. PCNA is a wholly-owned subsidiary of Porsche AG, which is headquartered in Stuttgart, Germany.

At the core of this success is Porsche's proud racing heritage that boasts some 30,000-plus motorsport wins to date.

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