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Porsche is preparing to introduce some major changes to its lineup, including a new generation of all-electric Boxster and Cayman sports cars. But one thing that hasn’t changed is its ability to print money. The automaker just posted its financial results for the first quarter of 2023 and the numbers reveal that profit jumped by 25.5 percent over the same period last year.
 
An 18 percent increase in deliveries from 68,426 in the first three months of a supply-restricted 2022 to 80,767 in the first part of 2023 helped lift sales revenue from €8.04 billion ($8.8 bn) to €10.1 billion ($11.1 bn), and operating profit from €1.47 billion ($1.6 bn) to €1.84 billion (€2 bn). The Porsche Group return on sales of 18.2 percent was unchanged from last year, but Porsche finance chief Lutz Meschke says the firm is targeting a 20 percent return in the long term. Porsche put the strong results down to a number of factors including ‘positive’ pricing.


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