Porsche reports strong profit gain in Q1 image

Porsche AG, the German sportscar maker unit of Porsche Automobil Holding SE (PAH3.XE), said first-quarter operating profit rose 18 percent, powered by rising demand for sports cars in United States, China and Germany.

Porsche increased its worldwide sales by 29 per cent to 30,231 vehicles. Compared with the same quarter the year before, revenue was up 32.4 per cent to 3.025 billion euro. Operating profit reached 528 million euro, 18.4 per cent more than in the first quarter of 2011.

Moreover, already in the first quarter the sports car manufacturer took on 725 new employees (+4.7 %), giving Porsche AG a total worldwide labour force as at 31 March of 16,032 employees.

The German automaker , which expects to double global deliveries to 200,000 units by 2018, counts Chinaas its largest market for the Panamera sports car and the Cayenne sport-utility vehicle, Bernhard Maier, the Stuttgart, Germany-based carmaker’s sales chief said.

Its China sales will outpace the 15 percent to 20 percent projected gain in the nation’s overall premium-car demand this year, Porsche forecast in November.

Volkswagen dropped plans for a full merger with Porsche last September after lawsuits against the sports-car maker in the United States and Germany complicated Porsche’s valuation.

However, “the integrated Volkswagen and Porsche group will happen,” the Vw CEO said.

PORSCHE AG group January – March
2012 2011 Variance (%)
Sales (units) 30.231 23.442 29,0
911 6.536 4.750 37,6
Boxster/Cayman 1.361 2.490 -45,3
Cayenne 14.867 11.487 29,4
Panamera 7.467 4.715 58,4
Production (units) 36.067 31.366 15,0
911 8.417 6.044 39,3
Boxster/Cayman 1.469 3.961 -62,9
Cayenne 17.913 15.189 17,9
Panamera 8.268 6.172 34,0
Revenue (Mio. €) 3.025 2.284 32,4
Operating Profit (Mio. €) 528 446 18,4
Employees 16.032 15.307* 4,7