Porsche announces record profits

Porsche’s annual financial statement has revealed record profits in 2018, with further growth expected through 2019…

Porsche achieved new records for operating profit, sales revenue, deliveries, and headcount in the 2018 financial year. The company’s operating profit grew by around four percent compared with the same period in the previous year, reaching €4.3 billion. Sales revenue increased by 10 percent to €25.8 billion.

Oliver Blume

Oliver Blume

In 2018, the company delivered 256,255 vehicles to customers, representing a four percent increase on the previous year. Meanwhile its workforce grew by around nine percent to 32,325 employees.

“In the 2018 financial year, our attractive product range enabled us to once again significantly increase deliveries. Porsche is synonymous with emotional petrol engines and high-performance plug-in hybrids; in the future it will be just known as well for pure electric drive systems,” said Chairman of the Board, Oliver Blume (right).

Porsche will be investing around €15 billion in new products in the period up to 2023 as it looks to expand its offerings in the field of electro-mobility. In 2018 the Panamera, Cayenne and 911 all showed increases in sales, the growth of the Panamera, Cayenne being attributable to new models arriving. Despite the 911 being at the end of its product cycle it recorded double-digit growth, the number of cars delivered increased by 10 percent to 35,573 vehicles. The Macan remains the Porsche’s highest volume seller, 86,031 vehicles were delivered in 2018. Despite other manufacturers posting losses, the Chinese market remains a strong one for Porsche. In 2018 it recorded a growth of 12 percent with 80,108 vehicles sold. The US remains the second most important global market for the Porsche brand, there an increase of three percent (57,202 vehicles delivered) was registered.

Despite new WLTP test cycles, gasoline particulate filters, and the elimination of its diesel models, Porsche remains positive about the coming year, projecting increased growth in 2019. The launch of the new 911, the 992, further derivatives of the 718 and Cayenne; and the launch of the Taycan will all assist that growth as Porsche looks to a future very much focused on electrified vehicles.

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