Porsche saw its profit and sales surge, and experienced the most successful financial year in the company’s history.
The Stuttgart based company reported the profit before interest and taxes rose to € 2.05 billion euros ($ 2.69 billion) from € 1.67 billion euros a year earlier. Revenue rose 18 percent to € 10.9 billion euros. This success was also reflected at the stock exchange where Porsche’s shares have gained 17 percent, valuing the company at € 14.8 billion euros.
The growth is especially fueled by the Cayenne, which sales increased 49 percent to 59,873 vehicles last year. Sales of the Panamera increased 20 percent to 28,218 cars. Porsche expects the seventh generation 911 and the new Boxster may help to overcome economic slowdowns. For this year, Porsche targets to increase sales to a record 140,000 cars. By comparison, they sold 116,978 cars in 2011.
Also in their home country Germany sales grew by 15 percent to 18,690 cars, but here the 911 was driving the growth with 6993 units. Due to the enormous success of this model, Porsche employees are currently also enjoying an extension of their workweek from Monday to Saturday.
Porsche aims to double deliveries to at least 200,000 cars and SUVs by 2018 as it adds new models and expands in emerging markets. To sustain growth, Porsche aims to expand its line-up by releasing at least one new product a year. The company’s flagship, the high-performance and hybrid 918 Spyder will be introduced somewhere in 2013. The compact SUV named Macan will enter the market in 2014.
Furthermore Porsche may also develop a supercar positioned in between the 911 and 918. Variants of the Cayman and Boxster, plus extended-wheelbase and convertible versions of the Panamera, are also being considered.