VW’s most profitable brand just became an even more successful one as Porsche made record earnings in 2015.
With the emissions scandal in full swing, capsule Volkswagen needs all the extra cash available within the Group and the Porsche division has always provided the best financial support. The maker of the iconic 911 sports cars announced 2015 as their most successful fiscal year in the company’s history. Sales revenue increased to 21.5 billion euros (23.9 billion dollars), a 25 percent jump, the same for the operating profit that improved to 3.4 billion euros (3.8 billion dollars), while deliveries grew 19 percent last year to more than 225,000 vehicles. Clearly, the growth sales drivers were the SUV models and the best-seller was the latest addition to the family. With more than 80,000 cars delivered, the Macan has already become the most coveted Porsche, in its very first year of full availability, closely followed by the Cayenne with 73,119 units.
Despite the demand boost in 2015, Porsche expects a slower pace for 2016 and cautions against “exaggerated expectations” for bigger profits as it has to brace for investments of billions of euros in the first pure battery-electric model, the Mission E. “Today, we expect sales revenue to rise slightly in fiscal year 2016 and profits to reach the same level as in the past year”, forecasted Lutz Meschke, who is in charge of Finance and IT. “High delivery numbers are not our primary objective,” Chief Executive Officer Oliver Blume added. However, Porsche expects to meet its 15 percent operating profit margin target in 2016 after achieving 16 percent last year.