16:56 - 25.10.2023

---

October 25, Fineko/abc.az. Over Jan-Sept 2023, luxury car manufacturer Porsche AG increased operating profit and revenue, but lowered profitability.

ABC.AZ informs, referring to Porsche’s report, that operating profit grew by 9% year-on-year, up to 5.5 bn euro. Revenue increased by 13% up to 30.13 bn euro.

Car deliveries for the past 9 months of 2023 increased by 9.6% up to 242,700 vehicles.

Sales growth was recorded in all regions except China.

The operating margin for the period declined to 18.3% from 18.9% a year earlier.

In 2023, the automaker still expects to record an operating margin in the range of 17-19% and revenue of 40-42 billion euro.

Porsche shares are getting cheaper on Wednesday morning by 1%. Since the beginning of the year, company's capitalization has decreased by 9.2%, to 79.8 bn euro, while German stock index DAX increased by 6.9% over this period.