- Luxury car firm Porsche has issued an ambitious growth outlook following record earnings in 2022.
- The carmaker announced a 27% increase in profits, which amounts to $7.23bn.
- This increase is believed to be driven in part by higher deliveries over the past year.
Porsche, the luxury carmaker, has announced record earnings in 2022, with an increase of 27% in profits.
This amounts to $7.23bn and is believed to have been driven in part by higher deliveries, which rose by 2.6%.
Luxury cars have long been a popular investment for high-net-worth individuals, with the asset growing by 25% in 2022, according to the Knight Frank Luxury Index.
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Porsche has issued a long-term outlook of over 20% of return on sales, proposing a dividend of €1.01 per preferred share and €1 per ordinary share.
Lutz Meschke, Deputy Chairman and member of the Executive Board of Finance and IT at Porsche, explained the company’s ongoing growth guidance.
“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 17-19%,” said Meschke.
“In the long run, we are aiming for a Group operating return on sales of more than 20%,” he added.
Porsche was hailed as Europe’s most valuable carmaker in its first week on the German stock market in 2022.
With the strong growth shown by the classic and collectable cars sector, many are looking to invest in the passion asset.
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