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July 29, 2022

Porsche increases revenue, operating profit and ROS as volume drops

Return on sales rose to 19.4% from 16.9% a year ago

By Graeme Roberts

Porsche said it “significantly” increased sales revenue and operating profit in the first six months of 2022 to EUR17.92 billion and EUR3.48 billion respectively.

The return on sales rose to 19.4% from 16.9% a year ago driven by strong product mix, currency effects and other business sectors. In the first six months of 2021, sales revenue was EUR16.53 billion and operating profit EUR2.79 billion – growth of 8.5% in revenue and 24.6% in operating profit.

The sportscar maker delivered 145,860 vehicles in H1 2022 versus 153,656 a year ago.

Despite an ongoing difficult supply situation and elevated raw material and energy prices, Porsche is aiming for return on sales of 17 to 18% for full year 2022 with sales revenue between EUR38 billion and EUR39 billion. The medium term return on sales target is 17% to 19%. Long term goal us return on sales of at least 20%:

“The global economy is facing challenging times but [data] for the first half of 2022 give us confidence in our resilience,” said CFO Lutz Meschke.

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