Porsche sees higher returns in 2022
Tuesday, 19 July 2022
BERLIN, July 18 (Reuters): Volkswagen-owned Porsche expects revenue of 38 billion to 39 billion euros ($38.63 billion to $39.64 billion) in 2022 from 33.1 billion in 2021, the sportscar maker said on Monday, despite registering a 5 per cent drop in deliveries in the first half of the year.
Long-term, the brand is targeting 20 per cent or more return on sales, with a goal of 17-18 per cent for 2022, it said, up from 16 per cent in 2021.
Porsche, which its owner Volkswagen plans to list on the stock market by the end of this year, saw a 5 per cent drop in deliveries in the first half of 2022 with China sales down 16 per cent amid coronavirus-induced lockdowns.