Porsche expects higher returns, China recovery in 2022
2022.07.18 15:02
FILE PHOTO: The Porsche logo is seen duering the 2020 Porsche 911 Speedster reveal at the 2019 New York International Auto Show in New York City, New York, U.S, April 17, 2019. REUTERS/Brendan McDermid/
BERLIN (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% drop in deliveries in the first half of the year.
Long-term, the brand is targeting 20% or more return on sales, with a goal of 17-18% for 2022, it said, up from 16% in 2021.
Porsche, which its owner Volkswagen (ETR:VOWG_p) plans to list on the stock market by the end of this year, saw a 5% drop in deliveries in the first half of 2022 with China sales down 16% amid coronavirus-induced lockdowns.
Still, Chief Financial Officer Lutz Meschke said the carmaker expects a stronger second half in China, with Chief Executive Oliver Blume adding June and July sales so far were positive.
($1 = 0.9859 euros)
($1 = 0.9838 euros)
