Porsche looks like it will have another record year after it releases its Q3 results showing significant gains.

Sports car maker secures return on sales of 15.5 percent after nine months

Porsche AG is heading towards another record year. In the first nine months of 2015, the sports car maker has increased deliveries of new vehicles by 28 percent to 173,085 and revenue by 35 percent to 16.47 billion euros. Operating profit exceeded that of the previous year by 32 percent, reaching a figure of 2.55 billion euros. Operating return on sales was 15.5 percent.

Chief Financial Officer and – since October 1 – new Deputy Chairman of the Executive Board, Lutz Meschke, emphasized that this trend is a positive indicator of the financial situation for 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 from 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, “Porsche will meet the return on sales target of 15 percent that it has set itself.” For the 2016 fiscal year, Meschke is confident in light of the outstanding order situation Porsche is enjoying.

The new Chairman of the Executive Board, Dr. Oliver Blume, pointed out that Porsche was recording two-digit growth rates in Europe as well as in America and Asia. “This homogeneous growth in the key markets is a particular strength of Porsche,” said Blume.  He gave two reasons for the success: “The world-famous top quality of the sports cars and the high level of customer satisfaction.”  Two studies conducted by the prestigious U.S. market research institute J.D. Power confirmed this in 2015. Porsche achieved the highest overall ranking in the “Initial Quality Study” (IQS) for the third time in a row. In the J.D. Power “Automotive Performance, Execution and Layout Study” (APEAL), Porsche achieved the highest score for the eleventh time in succession in the overall assessment and thus remains the most attractive car brand for drivers in the United States.

This worldwide success results in job creation for Porsche. After nine months of 2015, the number of employees has risen to 23,999 – nine percent more than twelve months ago. Within the last five years, the sports car maker has been able to grow its workforce from approximately 13,000 to the current level of 24,000 employees – an increase of more than 80 percent.