Porsche AG 1Q Revenue, Operating Profit Surge On China Demand
03 Mai 2012 - 11:35AM
Dow Jones News
Porsche AG, the German sportscar maker unit of Porsche Automobil
Holding SE (PAH3.XE), said Thursday first quarter revenue and
operating profit rose sharply due to increased demand in China,
Germany and the U.S.
MAIN FACTS:
-First quarter revenue jumped 32% on the year to EUR3.03
billion.
-Porsche AG's first quarter operating profit climbed 18% to
EUR528 million, and the operating return on sales was nearly
18%.
-"We can fund both the significant increase in investment and
the development expenditure for expanding our model range out of
our strong cash flow," chief financial officer Lutz Meschke
said.
-Led by a 38% increase in sales of the new 911 model, worldwide
first quarter car sales increased 29% to 30,231 units.
-Porsche aims to boost sales to around 200,000 units by 2018
with an operating return on sales of at least 15%.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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