Porsche’s year just gets better and better. Four weeks ago the company floated on the stock market, earning a robust €75 billion ($75 bn) valuation and a tidy €19.5 billion ($19.5 bn) payout, half of which goes to parent company VW to spend on electric cars. And now we hear that profits in the first nine months of 2022 are up by a staggering 41 percent.
Operating profit at the Stuttgart firm climbed from €3.59 billion ($3.59 bn) to €5.05 billion ($5.05 bn) and sales revenue grew almost 16 percent from €23.12 billion ($23.12 bn) to €26.74 billion ($26.74 bn). What’s interesting is that Porsche achieved those numbers without selling a gazillion extra cars and while the automotive sector struggled with the limited supply of semiconductors, a problem that crippled many other brands. Deliveries did go up, but only by 2 percent, from 217,198 to 221,512.
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