Porsche posts successful start to new year - Just Auto
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Porsche posts successful start to new year

07 May 2021 (Last Updated May 12th, 2021 17:22)

Porsche AG booked operating profit of EUR1.2bn in the first quarter of 2021, more than double the previous year's EUR572m in the same period.

Porsche AG booked operating profit of EUR1.2bn in the first quarter of 2021, more than double the previous year’s EUR572m in the same period.

Sales grew from EUR6bn in the prior year quarter to EUR7.7bn, an increase of 28%, while return on sales improved from 9.5 to 16.2%. With these achievements, Porsche remains one of the most profitable car manufacturers in the world.

“We have started the year very well and expect that we will once again achieve our strategic goal of a 15% return on sales in 2021,” said finance chief Lutz Meschke. “Reaching this benchmark is an even greater achievement because we are investing significantly more compared with the past in electrification, digitalisation and also sustainability.”

Porsche delivered almost 72,000 vehicles worldwide in the first three months of the year, an increase of 36% year on year.

The most popular model was the Macan.