Porsche CEO Matthias Müller has revealed the carmaker’s plans to spend “significantly more than one billion euro this fiscal year, in substantial investments and significant expenditures”.
Porsche: Sharapova, Webber and record Q1 Revenue
“We are focused on fulfilling the promise of our brand – to offer the sportiest and technologically cutting-edge vehicles in our segments – on a long-term basis,” said the Chairman (above with the sugarcubes, Sharapova and Webber). “The improvement of fuel efficiency as well as a responsible use of resources are integral parts of Porsche strategy.”
2014 has started well for Stuttgart. Q1 deliveries were up almost 5% on last year at 38,663 vehicles. Q1 revenue is up 20% year-on-year to just under 4 billion euro. Operating profit has increased by 22%, while employee numbers have also risen, topping 20,000 people in February.
Record Workforce at Porsche AG
Employee numbers are a good indication of how well things have been going. Three years ago, total employees was 13,000. Since then, the company has increased staff numbers by more than 50%. That is seriously going some.
At the end of March, the total number employed by Porsche was 20,416 people: up 15% year-on-year. Almost 1,000 people were added in Q1 alone and that number will keep rising in the run up to Macan, which will be built at Leipzig. Want to work at Porsche with these guys? See all Porsche jobs here.
“Porsche sales will rise once more in the 2014 fiscal year,” predicted Matthias Müller. “The market launch of the Macan will give us an additional boost.”
Porsche Macan: High Expenditures
To make money, one must spend money, and Porsche has more to spend on Macan. “There are high expenditures for meeting the CO2 requirements and substantial investments in the build-out and modernization of the Zuffenhausen, Leipzig and Weissach locations,” noted Lutz Meschke, the board’s man in finance. “Assuming that sales in Europe will continue to stabilize despite the unresolved structural problems*, our aim is to achieve at a minimum a profit comparable to the previous year.”
I’ve just spent a while looking at government budgets by country. Porsche AG could start issuing passports if it keeps up this level of spending.
*Not sure what this means but am checking it out.