Porsche 2006/07 profit tops 4 billion euros: report

[Loren]

FRANKFURT (Reuters) - German sports car maker Porsche (PSHG_p.DE: Quote, Profile, Research) made a record profit of more than 4 billion euros ($5.88 billion) in its 2006/2007 fiscal year, the German newspaper Frankfurter Allgemeine Sonntagszeitung reported.

Porsche's sales were 7.4 billion euros, the newspaper said in an advance release of an article due for publication on Sunday.

In the previous fiscal year to July 31, 2006, Porsche's pre-tax profit was 2.11 billion euros on sales of 7.27 billion euros.

Nobody at Porsche was available for comment.

(Reporting by Peter Starck)

[White987S]

WOW! That's amazing. Porsche only increase sales by<2% but increased their profits by almost 180%.

[cvhs18472]

55% of their gross is profit. That is gross

[der meister]

That's really impressive.

Of course Porsche has come all the way back from 1993 (?) when they only sold like 4,000 cars in the US to today back up to like 30,000?

It would be interesting to really analyze all their numbers and how much profit in the base car vs. "options." ;)

I went by the Porsche dealer in Newport Beach the other day and a lot of people were buying themselves Christmas presents....

The sales guys were handing out "thank you" model cars and shirts to new buyers like candy.

Edited December 14, 2007 by der meister

[tanny02996]

Pretty impressive given how weak the UD dollar is and how much sales we represent...have to wonder if 2008 will bring a price adjustment due to the exchange rate.

[Richard Hamilton]

I read that it was 5.86 billion Euros profit (http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article2971100.ece) of which 3.59 billion Euros came from stock option profits. That leaves 2.27 billion profit on car production - or 22700 Euros on each of about 100000 cars produced. That's around $30000 per car!

[White987S]

With profits like that, Porsche can buy everyone a new RMS, or an engine for the IMS folks, and still have money left over and a great financial year!

[savetonight]

whoa that's huge....

scary huge.