Porsche first quarter 2014 operating profit grew 22% year on year to EUR698m as it delivered 38,663 vehicles, up 4.5%, and revenue rose 20% to EUR3.93bn.
Finance chief Lutz Meschke said the return on sales was high at almost 18% but cautioned Porsche would have to bear substantially rising labour costs and write-offs due to the launch of the new Macan model range.
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“In addition to that, there are high expenditures for meeting the CO2 requirements and substantial investments in the build out and modernisation of the Zuffenhausen, Leipzig and Weissach locations,” he added.
“Assuming that sales in Europe will continue to stabilise despite the unresolved structural problems, our aim is to achieve at a minimum a profit comparable to the previous year.”
CEO Matthias Muller said: “Overall, the sales of Porsche will rise once more in the 2014 fiscal year. The market launch of the Macan will give us an additional boost.”
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