News Column

Porsche Posts Record Profit as Sales Jump

March 13, 2012

Andrew McCathie

Porsche Carrera

Porsche turned in a robust performance in 2011 with the German luxury sports carmaker reporting record profits and sales on Tuesday.

The Stuttgart-based group said operating profit climbed 22 per cent last year to 2.045 billion euros ($2.69 billion) on the back of a 21 percent jump in worldwide sales to 116,978 vehicles. Revenue rose 18 percent to 10.9 billion euros.

"For Porsche, 2011 was the most successful fiscal year in the company's history, not just for sales but for revenue and operating profit as well," said chief executive Matthias Mueller.

The world's leading luxury carmakers have been enjoying record sales and profits as a result of booming demand in China and the U.S. -- the world's two biggest car markets -- as well as in parts of the Asia-Pacific region.

Leading the rise in annual sales was a 49 percent surge in sales of the company's Cayenne sports utility vehicle. This resulted in a 57 percent increase in the production of the brand last year.

Porsche's buoyant performance continued into 2012, with the group saying sales in February jumped 19.4 percent. This represented the best February sales in the company's history.

Powering the rise last month was a 74 percent jump in sales in China, a 6.3 percent gain in the U.S. and a 43.4 percent rise in the Asia-Pacific region.

The group said its workforce grew last year by 16 percent to 15,307 employees at the end of 2011. Porsche plans to increase its headcount to about 20,000 by 2018.

Source: (c) 2012 Deutsche Presse-Agentur GmbH (Hamburg, Germany)

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