Porsche booked record results for 2015, its fifth consecutive record year.
Sales revenue increased to EUR21.5bn (+25%). Operating profit improved to EUR3.4bn (+25%). Deliveries rose 19% to around 225,000 vehicles. The number of employees reached 24,481 by the end of the year – 9% up.
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Oliver Blume, chairman of the executive board, spoke of “extraordinary results even by Porsche standards”.
“Porsche is also in the current year on a successful course,” added Blume. Deliveries in the first two months of the year increased 14% to about 35,000 vehicles.
Lutz Meschke, finance and IT chief, cautioned against “exaggerated expectations”. Porsche is spending billions of euros on its first pure battery-electric model, the Mission E. For Meschke, the project represents “a great step toward the future of our brand. At first, these expenditures will not be offset by any income from vehicle sales, because the Mission E will not arrive on the market until the end of the decade”.
“Today, we expect sales revenue to rise slightly in fiscal year 2016 and profits to reach the same level as in the past year,” forecast Meschke.
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By GlobalDataBlume added: “High delivery numbers are not our primary objective. They are the logical consequence of our corporate strategy and an expression of our attractive product range.”
Meschke emphasised Porsche attaches greater importance to the company’s earnings power. Return on sales before taxes was 16% in 2015. This means that it continues to be the world’s most profitable carmaker – despite large investments in production sites and development projects.
In 2015, research and development outlays increased to EUR2.15bn. At the same time, net liquidity in the automotive division – ie gross liquidity less financial liabilities and excluding the financial services business in each case – improved from EUR195m to EUR1.5bn during 2015.
“We have achieved our strategic goals of the last years. Within the scope of Strategy 2025, we are now realigning the company for the future,” said Blume. “We focus on customer enthusiasm, financial return and safe jobs. In doing so, we consequently follow our way of value-creating growth.”
