Luxury carmaker Porsche AG sets long-term target of more than 20% of return on sales.
Luxury automaker Porsche AG issued an ambitious long-term outlook of more than 20% of return on sales.The company is proposing a dividend of 1.00 euro per ordinary share and 1.01 euros per preferred share.issued an ambitious long-term outlook of more than 20% of return on sales, after posting record 2022 earnings on Monday on the back of higher deliveries.
The carmaker said its operating profit hiked by 27% to 6.77 billion euros last year, when deliveries rose by 2.6% to 309,884 units. The company is proposing a dividend of 1.00 euro per ordinary share and 1.01 euros per preferred share. It issued ongoing growth guidance on both the medium and long term:
"Should the economically challenging conditions not further intensify significantly, we expect a Group operating return on sales for the 2023 financial year in the range of 17 to 19 per cent," said Lutz Meschke, deputy chairman and member of the executive board for finance and IT.Meschke added, "In the long run, we are aiming for a Group operating return on sales of more than 20 per cent.
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