Porsche Profit Rose 6% in 2015; Car Maker Forecasts Flat Earnings This Year
11 Marzo 2016 - 10:48AM
Dow Jones News
By William Boston
STUTTGART--Porsche AG, the German sports car maker owned by
Volkswagen AG (VOW.XE), Friday reported a 6% increase in net profit
to 2.33 billion euros ($2.59 billion) in 2015 business year, but
warned that earnings would likely be flat this year.
Porsche executives cautioned investors against "exaggerated
expectations" about future profit growth in the context of lower
profit margins from growing sales of luxury sport-utility vehicles
and heavy investment in new technology. Illustrating this trend,
Porsche said its operating-profit margin was flat at 15.8% last
year compared with 2014.
"We expect to slightly increase revenue in 2016 and achieve
earnings at the level of the previous year," said Chief Finance
Officer Lutz Meschke.
Porsche sold 225,121 vehicles last year, an increase of 19%.
Write to William Boston at William.Boston@wsj.com
(END) Dow Jones Newswires
March 11, 2016 04:33 ET (09:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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