German sports car manufacturer, Porsche reported positive first half profit and revenue figures for 2014. Deliveries covering the period from the beginning of January to the end of June rose by eight per cent compared with the same period last year to 87,803 vehicles. Revenue went up in the first six months by 16 per cent to 8.2 billion euros. Operating profit grew by eight per cent to 1.4 billion euros, which is equivalent to a return on sales of 17 per cent.
Chairman of the Executive Board of Porsche AG, Matthias Müller, emphasised that the sports car manufacturer is keeping solidly to its course of value-creating growth. “We are investing in ground-breaking future technologies such as plug-in hybrid drive, and in promising market segments.” As an example, the Macan has been launched in the high-growth SUV segment. In February, the sports car manufacturer opened a comprehensive factory in Leipzig with its own paint shop and body assembly line for production of the Macan.
Lutz Meschke, Member of the Executive Board Finance and IT at Porsche AG pointed out the rising pressure caused by the ambitious investment program which Porsche is implementing in its Strategy 2018. “The resulting depreciation and rising labour costs pose an ever increasing burden on our results. Add to this the very high expenditure for research and development, in particular in connection with reducing fleet carbon emissions.”
Early this year, work started in Zuffenhausen in Stuttgart on the first construction phase of a new training centre, an engine factory and office and service buildings. Total investments at the main Porsche plant, which includes a new body assembly line, will amount to over 700 million euros in the coming years.
One result of this quality strategy, added CFO Meschke, also becomes obvious in the continuing success in international sales markets. In financial year 2014, Porsche will increase its sales in its key single markets of the USA, China and Germany, and raise its overall sales figures worldwide.
Can Porsche continue this sales momentum and further add to better profit figures? Stay tuned into Motoroids for all the updates from the world of auto. Do share your thoughts through comments below.