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.....
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