Porsche announce good results
Discussion
To quote a (french) stockmarket announcement:
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Porsche have increased their sales over the first period of the 2004-05 financial year (August-November) due to their young model range. Compared to the same period last year, sales are up by 7% due to strong demand for the new 911 and the 4x4 Cayenne, showing the value of their strategy of updating their models.
They have also announced that their turnover has increased by 4%, achieving 1.98 billion euros for this first quarter. They confirmed their predictions that financial growth for the year will continue compared to last years figures.
Total sales for the quarter have increased to 23,546 vehicles, with 911 sales increasing by 18.6% to 8,452 units and KN sales by 15.2% to 13,011 units.
Boxster sales, while waiting for the launch of the new model, dropped by 46.7% à 1,916 units.
They also clarified the annual results for 2003-04, declaring that their cash flow increased by 20% to 1,67 billion euros.
They continue to hedge their operations against exchange rate fluctuations, and have protection through to 2007/8. This will allow them to continue to outperform other manufacturers in terms of unit profit margins.
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All a bit dry and not of interest to all I know, but at least gives a reassuring picture for the future of our favourite pork producers. Whatsmore, something not shown in the above sales figures, given the price of spare parts they must still be making money out of their old models too the bastards!
I don't currently own any Porsche shares but might have to buy a few as a 2 to 3 year pork punt.
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Porsche have increased their sales over the first period of the 2004-05 financial year (August-November) due to their young model range. Compared to the same period last year, sales are up by 7% due to strong demand for the new 911 and the 4x4 Cayenne, showing the value of their strategy of updating their models.
They have also announced that their turnover has increased by 4%, achieving 1.98 billion euros for this first quarter. They confirmed their predictions that financial growth for the year will continue compared to last years figures.
Total sales for the quarter have increased to 23,546 vehicles, with 911 sales increasing by 18.6% to 8,452 units and KN sales by 15.2% to 13,011 units.
Boxster sales, while waiting for the launch of the new model, dropped by 46.7% à 1,916 units.
They also clarified the annual results for 2003-04, declaring that their cash flow increased by 20% to 1,67 billion euros.
They continue to hedge their operations against exchange rate fluctuations, and have protection through to 2007/8. This will allow them to continue to outperform other manufacturers in terms of unit profit margins.
----------------------------------
All a bit dry and not of interest to all I know, but at least gives a reassuring picture for the future of our favourite pork producers. Whatsmore, something not shown in the above sales figures, given the price of spare parts they must still be making money out of their old models too the bastards!
I don't currently own any Porsche shares but might have to buy a few as a 2 to 3 year pork punt.
Garbrand said:
Wiedeking also announced Porsche will make a final decision on the fourth model in 2005, rumored to be (horror of horrors) a four door sedan. Porsche also announced they sold more SUV's then sportcars.
Things are not looking good for Porsche's sporting image IMO.
Yep 13,011 of the 23,546 vehicles sold were KNs, i.e. 55%. As long as the money made selling this truck allows the continued existence of Porsche as a sportscar maker then it does have a positive slant.
The 4 door sedan might be good news for them - I imagine it would be an extremely powerful sports saloon, M5 class type of thing. Let's hope that they do it well - it can't fail to be of more interest to me than the KN!
I feel that we can't really resent the management's desire to grow the company given the relative smallness of the specialist sportscar/supercar market that they were limited to a few years ago. Just hope that they don't get distracted by all this diversification and forget where their historical core market lies.....
It does seem bizzare that Porsche don't race. They're making out that they're heavily involved by supplying GT3 RS Cup cars, but that's just marketing.
They ALWAYS raced to help development of their roadcars. Vic Elford once begged Piesch to take the syncromesh out of the 'box on the 917, promising another 3 seconds off a Le Mans lap. The answer "Our production cars run synchromesh gearboxes, taking them out of the racecars would mean we'd stop learning about them here."
Don't get me wrong, I've got a 997 on order, and the car is superb, but manufacturers don't just go racing to market the brand. Racing development MUST start again at Porsche.
They ALWAYS raced to help development of their roadcars. Vic Elford once begged Piesch to take the syncromesh out of the 'box on the 917, promising another 3 seconds off a Le Mans lap. The answer "Our production cars run synchromesh gearboxes, taking them out of the racecars would mean we'd stop learning about them here."
Don't get me wrong, I've got a 997 on order, and the car is superb, but manufacturers don't just go racing to market the brand. Racing development MUST start again at Porsche.
simonharrod911 said:
Racing development MUST start again at Porsche.
Amen. No matter how good Porsche may make a sedan, I would walk away and not look back if they did.
I do not understand why Porsche does not promote the 911 to a special model, a car outside their main model lines. This would allow them to make it into a version specially tailored at those who love the 911 characteristics, maybe even with a return to an aircooled engine.
This would allow the Boxster to take the 911's place as the main model. The chassis can probably handle the current 911 engine, judging by those Ruf cars. They can also make that Boxster Coupe everybody is waiting for, without eating into 911 sales.
With the 911 out of the regular line, there is room for a proper GT car, 2+2 coupe, with a front mounted engine with transaxle. And in the top a model derived from the Carrera GT, a mid engined car to battle it out with Ferrari.
It would make two very nice platforms to use that Cayenne V8 Turbo... And for Porsche to use in factory racing.
Ah well. Probably not going to happen.
toppstuff said:
These results really ought to put the Cayenne bashers back in their box.
There is no denying that the Cayenne sells well. But it is killing that very, very precious Porsche sporting image. Once it is gone, it will be very hard to get back. The Cayenne was a short term solution, I'm hoping Porsche will look at the long term again - and they better not be looking at a sedan.
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