Porsche Expects To Earn Around $980 Million For Fiscal Year

Porsche will sell around 80,000 cars in the current fiscal year and expects to post a full-year operating profit of between 700 million euros ($979.5 million) and 800 million, a state politician told a German newspaper.

Claus Schmiedel, a member of parliament in Porsche's home state Baden-Wuerttemberg, told Stuttgarter Nachrichten in an interview to be published on Saturday he had spoken to Porsche's finance chief and taken a look at the carmaker's books.

"On an operating level Porsche does not have a problem -- unlike other producers," Schmiedel said, adding the company will achieve an operating margin of 12 percent.

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Agent63 - 6/2/2009 12:59:27 PM

0 Boost

Porsche as a company is very good. They own patents to many technologies in the world that's not related to cars, or so they say. I heard Porsche owns the patent for the slider phone, can anyone confirm that? Anyhow I know they do own rights to many things and for that it's all smart business decisions. As for their cars, they will always be popular and hot cakes, despite economic downturns.

VISO - 6/2/2009 3:57:24 PM

+1 Boost

Really? Agent63 catch up on the news. Porsche had to borrow 930 Million Dollars from Volkswagen recently to survive. How are they posting a profit suddenly? Well, I guess they will be paying VW back and then be merged into VW. Your comments crack me up. No one is trusting Porsche's financial numbers right now.

VISO - 6/4/2009 1:30:46 AM

+1 Boost

No little timmy, you should catch up. Your logic is all twisted around like your panties. They leveraged themselves to such a hilt that they do not have the ability to finance their operations. I suggest you take the time to read some news. Porsche just took out another loan as reported today in AE to sustain their operations. Also, they do not have 71% of VAG Sherlock. They have only 51% and had to stop because they ran out of cash to futher finance the VAG shares. VAG called off the merger with Porsche once Porsche was not able to make its finances transparent. As matter of fact, Porsche has been borrowing from one end to pay off the other end so to speak - ever heard of a Ponzi scheme. And with your great logic, if they are SO profitable why do they need to borrow from VAG? Yes, catch up twit. You sound ignorant like the rest of the dumbass posters here.