Porsche reports 18.3% operating return in first nine months, confirms forecast

Porsche AG reported an operating return on sales of 18.3 per cent in its first nine months on Wednesday, in line with its annual forecast, with operating profit up 9% to 5.5 billion euros ($5.83 billion).

The luxury carmaker saw a 12.6 per cent rise in sales revenue to 30.13 billion euros, on a 9.6 per cent rise in deliveries.

Porsche confirmed its outlook for 2023 of a 17-19 per cent return on sales of 40 to 42 billion euros and a 20 per cent return on sales in the long term.

The company had said in late September it expected to hit those forecasts despite interest rate rises and an uncertain economic outlook in China, causing some instability.