Porsche Profit Jumps 22% As Cayenne Suv Drives Sales image

Porsche SE concluded the 2011 financial year with a new record in sales, revenue and operating profit. The maker of the iconic 911-turbo sports car said annual profit rose 22 percent on demand for the Cayenne sport-utility vehicle.

“2011 was the most successful financial year in the company’s history, not just for sales but for revenue and operating profit as well,” Porsche brand chief Matthias Mueller said in a statement.

Backed by Volkswagen (VOW3), Porsche aims to deliver 200,000 vehicles by 2018, almost doubling the 2010 sales, as it adds new models and expands in emerging markets.

To that end, Porsche is investing in rejuvenating and expanding its entire model range. In 2011, the new edition of the Porsche 911 got the process underway. This will be followed in 2012 with the all-new Boxster and Cayman. The introduction of the Macan SUV, to be built in the Leipzig plant, is to provide an additional impetus from 2014 onwards.

Vehicle sales increased 22 percent to 119,000 units last year with the Cayenne, Porsche’s best-selling model, accounting for about 60,000 autos.

Porsche’s shares have gained 17 percent this year, valuing the company at 14.8 billion euros.

PORSCHE AG Group Reporting period
Fiscal year 2011 Calendar year 2010 Variance (%)
Sales (units) 116,978 96,473 21
911 17,607 20,406 -14
Boxster/Cayman 11,280 12,348 -9
Cayenne 59,873 40,237 49
Panamera 28,218 23,482 20
Production (units) 127,793 95,564 34
911 21,748 19,979 9
Boxster/Cayman 12,207 12,061 1
Cayenne 62,004 39,428 57
Panamera 31,834 24,096 32
Revenue (Mio. €) 10,928 9,232 18
Operating Profit (Mio. €) 2,045 1,674 22