Porsche reports 18.3% operating return in first nine months, confirms forecast
© Reuters. FILE PHOTO: A Porsche logo is seen on a vehicle displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Angelika Warmuth/File photoBERLIN - Porsche AG reported an operating return on sales of 18.3% in its first nine months on Wednesday, in line with its annual forecast, with operating profit up 9% to 5.5 billion euros .
The luxury carmaker saw a 12.6% rise in sales revenue to 30.13 billion euros, on a 9.6% rise in deliveries. Porsche confirmed its outlook for 2023 of a 17-19% return on sales of 40 to 42 billion euros and a 20% return on sales in the long term. The company had said in late September it expected to hit those forecasts despite interest rate rises and an uncertain economic outlook in China, causing some instability.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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