Porsche AG sees record earnings in FY22, sets long-term margin goal of 20%

The company is now targeting a rise in revenue to 40-42 billion euros for FY23 from 37.6 billion in 2022, and a margin of 17-19 per cent

Employees of German car manufacturer Porsche install the windshield of a Porsche 911 at the Porsche factory in Stuttgart-Zuffenhausen, Germany, February 19, 2019. Credit: Reuters File Photo

Porsche AG reported record earnings in 2022, with profits up by over a quarter to 6.8 billion euros ($7.29 billion) on a rise in deliveries of 2.6 per cent.

Porsche, which overtook Volkswagen as Europe's most valuable carmaker within a week of its stock market debut, will pay a dividend of 1 euro per ordinary share and 1.01 euros per preferred share for 2022, it said on Monday.

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The company is targeting a rise in revenue to 40-42 billion euros this year from 37.6 billion in 2022, and a margin of 17-19 per cent. Long-term, its goal is a 20 per cent margin, the statement said.

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