Porsche earns $7.3 billion due to VW options

The world's best trading desk during the latter half of 2008 belonged to Porsche Automobil Holding, as the automaker made a 5.55 billion euro ($7.3 billion) profit over six months in large part by catching out those who bet against Volkswagen.

Porsche said in the six months to Jan. 31 its profit climbed to 5.55 billion euros from 1.26 billion euros. Gains from dealing in VW shares contributed 6.8 billion euros to the Stuttgart automaker's pretax profit of 7.3 billion euros.
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1dott8 - 3/31/2009 4:34:14 PM

+3 Boost

yeah, about that...... this has nothing to do with toyota and lexus. enough said. next!

ThierryHenry14 - 4/1/2009 10:11:58 AM

+2 Boost

Actually, Toyota makes $16.8 billion in 08. considering they sold roughly 8.4 million cars, and Porsche only sold fractions of that, I would say that Porsche is very profitable.

David, when you get to high school, you may learn about cost/unit and profitability...

dumpsty - 3/31/2009 5:04:16 PM

+4 Boost

It was a series of smarter moves by Porsche, it seems. As investors wanted to cash-out of the automotive industry, Porsche was all too happy to purchase those seemingly declining shares.

They have made a powerplay for a controlling stake in VW and it's vast listing of subsidiaries; and it's paying off...in billions.

I'm sure a lot of people are scratching theirs heads on this one.

DavidB5 - 3/31/2009 5:30:54 PM

+3 Boost

Good job Porsche.

veyron1001 - 3/31/2009 7:29:24 PM

+2 Boost

Porsche can own GM and Chrysler with the money they bring in.

I95SPEEDINGTICKETS - 3/31/2009 7:34:46 PM

+3 Boost

Could not have happened to a nicer bunch. Porsche should have held on to all those shares and let the Hedge Funds Collapse for their stupidity.

Bloody Parasites that do noting for the benefit of mankind.

Rant Over.