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Caspian Energy Journal Caspian European Club
Thursday, 29 October 2015 14:45

Porsche remains on record course

Deliveries of new vehicles rose by 28 per cent to 173,085 and revenue by 35 per cent to 16.47 billion euros. Operating profit exceeded that of the previous year by 32 per cent, reaching a figure of 2.55 billion euros. Operating return on sales was 15.5 per cent, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of Porsche.

Chief Financial Officer and – since October 1 – new Deputy Chairman of the Executive Board, Lutz Meschke, emphasised that this excellent trend is also reflected in the financial situation of Porsche. “After we were able to retire our net debt while simultaneously financing our growth in fiscal 2014, net liquidity has continued to increase in the first nine months.” Net liquidity of the car business division rose from 195 million euros as of December 31, 2014 to 1.32 billion euros as of September 30, 2015. Meschke also remains optimistic for the year as a whole: “I expect that we will achieve a significant year-on-year increase in revenue and operating profit in fiscal 2015.” He also reaffirmed that “Porsche will meet the return on sales target of 15 per cent that it has set itself.” For the following year of fiscal 2016, too, the CFO appeared confident in view of the outstanding order situation that Porsche enjoys.

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