The name of the game at Porsche AG in recent years has been growth. The company has seen years of consecutive success, increased sales, and larger profit percentage from those gains. They’ve been reinvesting a lot of their profit into the company’s future, as their stated goal is sustainability, and this is a transition period in the car world. Across the first three months of this year, Porsche has delivered around 63,500 vehicles, up 6% over last year. Revenue, meanwhile, rose by 8% to 5.9 billion euro. The company’s operating result totaled 976 million euro and the operating profit margin was 16.4%. At the end of the first quarter, Porsche’s workforce included 30,335 staff, up 7% from the same time last year when the company employed just 28,249 people.
Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG had this to say, “This successful first quarter creates a solid basis for the coming months. We want to evolve from being purely a vehicle manufacturer to become a successful provider of exclusive and sporty mobility solutions. In order to get there, we are continuing to invest heavily. But even in this period of transformation, our goal is to remain profitable outright.”
Meschke went on to stress the importance of Porsche’s work outside of the car sales business, including their After Sales department, and consulting services provided by MHP and Porsche Consulting, which all made a positive contribution to the result. The company’s strategic profit target of 15% is well within the realm of possibility for the full 2018 financial year. Porsche expects another boom in sales when the Mission E hits the market (which could indicate that they plan to launch the full EV before the end of 2018!).