Porsche sold 87,800 cars in the first half of 2014, an increase of 8% over the same period last year. Revenue grew by 16% to EUR8.2bn (US$11bn) with operating profit growing by 8% to EUR1.4bn. The company said in a statement this is equivalent to a return on sales of 17%.
Chief financial officer Lutz Meschke said that efficiency and cost awareness had helped the company achieve these figures despite the rising burden caused by the ambitious investment programme Porsche is implementing in its Strategy 2018.
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“The resulting depreciation and rising labour costs put an ever increasing strain on our results. Add to this the very high expenditure for research and development, in particular in connection with reducing fleet carbon emissions,” he said.
Porsche employs a record 21,326 staff, an increase of 18% in the past year, said Meschke.
Investments included EUR700m at the main Zuffenhausen plant where a new body assembly line is being built, as well as a new training centre, engine factory, office and service buildings.
A further EUR500m has been spent in Leipzig where the Macan is built with EUR150m going into a new design studio, wind tunnel and electronics integration centre at Weissach.
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