Porsche said it expects sales to rise to as much as $45 billion this year after reporting record earnings and revenue in 2022 as it boosted car deliveries and tightened costs
Porsche reported a 27.4% rise in annual operating profit to 6.8 billion euros on revenue of 37.6 billion, slightly undershooting a consensus 6.86 billion in earnings and 38.3 billion in revenue expected by 19 analysts polled by Refinitiv.
Shares in the company, which have risen steadily since they started trading on the market at 82.50 last September, were down 3.3% at 1112 GMT, broadly in line with the STOXX Europe 600 Automobiles & Parts indexThe logo of German carmaker Porsche AG is seen before the company's annual news conference in Stuttgart, Germany, March 17, 2017. REUTERS/Lukas BarthDeliveries rose 2.6% to nearly 310,000 cars.
"Our keys to success are improved price positioning, a strong product mix, increased group sales, currency effects, and last but not least, our consistent cost discipline," Meschke said on an analyst call.Porsche, which as Europe's most valuable carmaker within a week of its September stock market listing, will pay a dividend of 1 euro per ordinary share and 1.01 euros per preferred share for 2022, it said.
Reporting by Victoria Waldersee and Jan Schwartz; Additional reporting by Christoph Steitz; Editing by Paul Carrel, Friederike Heine and Emelia Sithole-Matarise
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