# Porsche posts 40% jump in nine-month operating profit
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-28
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Porsche Reports 40.6% Surge in Operating Profit Amid Stock
Meta Description: Porsche's first results post-stock market listing show a 40.6% increase in operating profit to over 5 billion euros. Read more here.
URL: https://financedigest.com/porsche-posts-40-jump-in-nine-month-operating-profithtml

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BERLIN (Reuters) -Porsche reported a 40.6% leap in operating profit to more than 5 billion euros ($4.99 billion) on revenue up 15.7% in the luxury carmaker’s first results since its stock market listing in late September.

The company reported an 18.9% return on sales and confirmed its full-year guidance for a 17-18% return, with a mid-term target of 17-19% and long-term target of 20%.

Deliveries were up only 2% to a little more than 221,500 vehicles, with exchange rate effects helping to boost profitability per car.

The [third quarter](https://www.financedigest.com/greek-residential-property-price-recovery-picks-up-in-third-quarter.html "Greek residential property price recovery picks up in third quarter") of 2022 was quite volatile and challenging from a political, economic and social perspective. Nevertheless, we were able to successfully list Porsche and get off to a flying start,” said [finance chief](https://www.financedigest.com/bootmaker-dr-martens-warns-on-profit-as-finance-chief-walks.html "Bootmaker Dr Martens warns on profit as finance chief walks") Lutz Meschke.

Porsche, a huge money spinner for the Volkswagen group, overtook its former parent as [Europe’s most valuable carmaker](https://www.financedigest.com/euro-7-emissions-proposals-the-sequel-europes-carmakers-dont-want-to-see.html "Euro 7 emissions proposals, the sequel Europe’s carmakers don’t want to see") after the listing. Its shares stood at 99 euros by Thursday’s close, up from a listing [price of 82.50 euros](https://www.financedigest.com/carrefour-unveils-30-euro-shopping-basket-in-spain-after-government-price-cut-proposal.html "Carrefour unveils 30 euro shopping basket in Spain after government price cut proposal").

Oliver Blume, chief executive of both companies, said the listing would [increase Porsche’s freedom as a business](https://www.financedigest.com/frances-ynsect-to-refocus-bug-business-after-capital-increase.html "France’s Ynsect to refocus bug business after capital increase") while providing Volkswagen with much-needed funds for its electrification drive.

In the short term the cost of the listing and the impact of suspending business in Russia has pushed down Volkswagen’s third-quarter earnings by 1.6 [billion euros](https://www.financedigest.com/eu-seeks-clarification-on-italy-post-covid-plan-freezes-19-billion-euros.html "EU seeks clarification on Italy post-COVID plan, freezes 19 billion euros"), results released on Friday showed.

($1 = 1.0030 euros)

(Reporting by Victoria WalderseeEditing by Rachel More and David Goodman)


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