December 2014 Steinlifters
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24 Hours at Daytona photo gallery - Historic sportscar racing classic. Credit to Sportscardigest.com
Porsche revenue and profit both up in the first nine months of 2014
Workforce nearly 22,000 employees worldwide
Dr. Ing. h.c. F. Porsche AG continued on its successful course during the first nine months of the 2014 fiscal year, with deliveries, revenue and profit continuing to grow. A total of 135,642 delivered sports cars represented an increase of 13 percent. Revenue grew by 17 percent to 12.24 billion euros and operating profit rose by 2 percent to 1.93 billion euros. At 21,950 employees, staff count also reached a new high. A year ago the number of people working at Porsche was 18,882. The year-over-year growth is 16 percent.
Lutz Meschke, member of the Executive Board - Finance and IT at Porsche AG, emphasized the company's profitability, which continues to be strong."Despite our very high expenditures, for example for the new drive system technologies and expansion investments for Porsche’s sustainable growth, our operating profit is continuing to show a year-over-year increase after nine months of 2014, and with an operating margin of 16 percent we are continuing to hit our strategic target." The financial situation would not change significantly in the final quarter of 2014, added the CFO, looking ahead. "I anticipate that we will end the 2014 business year with an operating profit slightly above last year’s," Meschke predicted.
The chairman of the Executive Board at Porsche AG, Matthias Müller, justified the high development costs for new technologies with the pioneering role which Porsche has vigorously taken on by developing new, cutting-edge plug-in hybrid vehicles. "With the Cayenne S E-Hybrid, the Panamera S E-Hybrid and the 918 Spyder, we are currently the only brand in the world to offer three plug-in models in the premium segment," stressed the CEO. Porsche was thus sending a clear signal to customers all over the world and also providing clear input into the public debate on reducing CO2 emissions. Said Müller: "The emissions regulations present a particularly significant challenge to us as a sports car manufacturer, but we have so far been able to rise to this challenge. Our goal is to produce not only the sportiest vehicles in their respective segments, but the most technologically advanced ones as well."