Porsche reaches extremely high business results in the H1 2017

08/09/2017

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In the first half of 2017, Porsche AG has achieved positive results in revenue, deliveries and number of workforce.
After 6 months of 2017, Porsche has earned a total of 2.6 billion euro, reached an increase of 16% in operating result and achieved an 8% growth in revenue, making an amount of 11.8 billion euro. The company's profit margins obtained 18.1%, whilte this number of prior half year was only 16.8%. Delivery also shows a rise of 126,497 cars sold which is equivalent to a 7% rise. The number of employees grew up 12% to 29.280 people.
 
“The priority of Porsche is to have thrilled customers and secure, sustainable jobs. Strong financial results create a solid foundation for the future. Porsche counts on puristic and passionate sports cars – this currently includes the new 911 GTS, the 911 GT3, the 911 Turbo S Exclusive and the 911 GT2 RS – as well as on future technologies such as plug-in hybrids and pure electric mobility,” said Chairman of the Executive Board of Porsche AG, Mr. Oliver Blume.
 
According to Mr. Lutz Meschke, Deputy Chairman of the Executive Board for Finance and IT at Porsche AG, a long-term currency hedging strategy and efficient organization with a further enhanced cost structure underpin the trend of impressive results.
 
However, he surmises that the result of the first half of 2017 is so amazing that it could be difficult to sustain in the future.
 
angular front of a red Porsche car

The result of the first half of 2017 is so amazing, which could be a difficulty sustain in the future
 
“We will only see a return on our sizeable investment for the development of Porsche’s first purely electric sports car and the expansion of production at the Zuffenhausen site once the Mission E goes on sale at the end of the decade,” he added. Porsche is spending 1 billion euro on the Mission E and will create over 1,200 new jobs. Moreover, the sports carmaker is also investing several hundreds of millions of euro in future technologies and plug-in hybrid drives.
 
In 2017 - the year of finance, Blume and Meschke hope that the final result of the year will be better than the previous year’s and manage the foreign exchange rates to be stable. In addition, Porsche will keep their effort to gain the strategic objective of at least 15% in profit margins.
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