PORSCHE PROFITS UP, AGAIN

There is no substitute…

The Dieselgate scandal may be continuing to knock off Porsche employees. But the company itself goes from strength to strength. Porsche’s most recent sales volumes, revenues and profits are all up.

In the first quarter of this year, Porsche delivered 63,500 cars, or roughly six per cent more than the same period last year. Revenues were up eight per cent to 5.9 billion euros, though operating profits edged up more narrowly to 976 million Euros, representing a one per cent increase. Porsche’s official statement covering results implied that major investment in electromobility, including the upcoming Mission E electric car and other related models and technology, is largely responsible for profit growth failing to match the increase in sales and revenues.

Reacting to the new results, Oliver Blume, Chairman of the Executive Board of Porsche AG said, “the new generations of the Panamera and Cayenne have proven popular with our customers, as have our new 911 GT models.” For what it is worth, Blume also emphasised the link between profitability and social responsibility. “For us, it is not a question of breaking one record after another. We want to generate value-creating growth – with healthy profits and secure jobs”, says Blume.

On that note, even Porsche’s workforce is growing fast and now numbers 30,335 staff. That’s fully seven per cent higher than the 28,249 employed by Porsche a year ago.