Porsche AG has reported its financials for the first quarter of CY2017. Amongst the highlights is a 17.6 per cent profit margin, up from 16.7 per cent.
The company has reported a rise not only in its operating result but also revenue, deliveries and its number of employees compared to the same period of Q1, 2016.
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The operating result increased by eight per cent in the first quarter of 2017 to EUR 967m, while revenue reached EUR 5.5bn. This was a rise of two per cent. Deliveries were up by seven per cent to 59,689 vehicles and the workforce expanded to 28,249 employees, representing an increase of 13 per cent.
“This exceptionally good result is a seamless continuation of our record year in 2016, and we have once again exceeded an already high level”, said Porsche AG’s deputy chairman of the Executive Board and Member of the Executive Board for Finance and IT, Lutz Meschke.
Porsche notes that it expects to see moderate growth in deliveries and revenue during the remainder of 2017. As long as exchange rates remain stable, the company believes it can achieve an operating result at the same level as for 2016. An operating profit margin of at least 15 per cent remains a strategic goal.
