BERLIN – Volkswagen-owned Porsche expects revenue of 38 billion to 39 billion euros ($38.63 billion to $39.64 billion) in 2022 from 33.1 billion in 2021, the sportscar maker said on Monday, despite registering a 5% drop in deliveries in the first half of the year.
Long-term, the brand is targeting 20% or more return on sales, with a goal of 17-18% for 2022, it said, up from 16% in 2021.
Porsche, which its owner Volkswagen plans to list on the stock market by the end of this year, saw a 5% drop in deliveries in the first half of 2022 with China sales down 16% amid coronavirus-induced lockdowns.
Still, Chief Financial Officer Lutz Meschke said the carmaker expects a stronger second half in China, with Chief Executive Oliver Blume adding June and July sales so far were positive.
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(Reporting by Victoria Waldersee, Editing by Miranda Murray)
