Porsche AG Clocks ~14% Revenue Growth In FY22

Dr. Ing. h.c. F. Porsche AG DRPRF said its group sales revenue increased 13.6% to €37.6 billion.
The operating profit for the year jumped 27.4% to €6.8 billion from €5.3 billion last year.
The group operating return on sales rose from 16% to 18% in 2022.
The company delivered 309,884 vehicles in 2022, a 2.6% increase.
For the 2022 financial year, the Executive Board has proposed to the annual general meeting a dividend payment of €911 million, corresponding to €1.00 per ordinary share and €1.01 per preferred share.
Porsche also stated Sajjad Khan will join and assume responsibility for the new Car-IT Executive Board department.
Outlook: Porsche confirmed its medium- and long-term targets.
"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.
The guidance is based on Group sales revenue of around €40 billion - €42 billion.
Price Action: DRPRF shares closed lower by 1.26% at $121.25 on Friday.
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