Porsche's Record Year ....
12-10-2004 | 03:04 AM
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Porsche's Record Year ....
Porsche's Record Year
(10 Dec 04)
The financial year, that is, ended July 31, 2004. Porsche's final results confirm that in turnover, production figures, pre-tax and post-tax profits it has never done better. The company also gave extra details on 2003/04 results, saying cash flow rose nearly 20 percent to 1.67 billion euros. Provisions -- where Porsche is believed to tuck away a portion of its earnings for a rainy day -- rose by 472 million.
Earnings per share (EPS) rose more than 10 percent to 38.80 euros when adjusted using the German financial analysis method DVFA, outpacing the 8.3 percent gain in net profit
More concrete guidance on profits and vehicle sales would come on Jan. 28 during the company's annual shareholder meeting.
Sales rose 15% to 76,827, thanks largely to the Cayenne, which the company rather elegantly thanks, because it "admirably offset the lifecycle-dependent downturn in sports car sales". This is Porsche's finger in the eye to critics who said it was crazy to enter the 4x4 market.
Porsche sold 39,913 Cayennes, plus 23,704 of the 911 models which were about to be replaced, 12,988 Boxsters and 222 of the new ultra high performance Carrera GT. It recorded increased sales in all of its export markets - 39.4%, taking them all into account - and even managed growth on the sluggish German market.
More than half the cars this company sells now are SUV's and sales of the 7-year-old 911 were down 14% in fiscal 2003 and are expected to decline 18% in the year ending . While sales of the 911 and Boxster slide, it is the Porsche Cayenne that has increased profits and is insuring the company’s ability to remain autonomous in a world of corporate buyouts and mergers. Also the Boxster's sales are forecast to slump 30% this year, as newer models steal the limelight ...
(10 Dec 04)
The financial year, that is, ended July 31, 2004. Porsche's final results confirm that in turnover, production figures, pre-tax and post-tax profits it has never done better. The company also gave extra details on 2003/04 results, saying cash flow rose nearly 20 percent to 1.67 billion euros. Provisions -- where Porsche is believed to tuck away a portion of its earnings for a rainy day -- rose by 472 million.
Earnings per share (EPS) rose more than 10 percent to 38.80 euros when adjusted using the German financial analysis method DVFA, outpacing the 8.3 percent gain in net profit
More concrete guidance on profits and vehicle sales would come on Jan. 28 during the company's annual shareholder meeting.
Sales rose 15% to 76,827, thanks largely to the Cayenne, which the company rather elegantly thanks, because it "admirably offset the lifecycle-dependent downturn in sports car sales". This is Porsche's finger in the eye to critics who said it was crazy to enter the 4x4 market.
Porsche sold 39,913 Cayennes, plus 23,704 of the 911 models which were about to be replaced, 12,988 Boxsters and 222 of the new ultra high performance Carrera GT. It recorded increased sales in all of its export markets - 39.4%, taking them all into account - and even managed growth on the sluggish German market.
More than half the cars this company sells now are SUV's and sales of the 7-year-old 911 were down 14% in fiscal 2003 and are expected to decline 18% in the year ending . While sales of the 911 and Boxster slide, it is the Porsche Cayenne that has increased profits and is insuring the company’s ability to remain autonomous in a world of corporate buyouts and mergers. Also the Boxster's sales are forecast to slump 30% this year, as newer models steal the limelight ...
Makes you wonder where this company would be right now had they not introduced the Cayenne .Do you think the 997 could really be as big as the Cayenne .
Last edited by Sobe; 12-10-2004 at 04:33 AM.
12-10-2004 | 01:56 PM
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From: The Flying Turtle Ranch
Greg
Their stock has slid something like 9% lately. Could very well be a time to buy, mainly over currency fluctuation fears.
There was a blurb about the above in yesterdays WSJ.
It also said they expect to up sales to 100,000 in the next year. (no break out on boxsters vs 911 vs Peppers) The factory also said they are considering the viability of a FOURTH product line.
Their stock has slid something like 9% lately. Could very well be a time to buy, mainly over currency fluctuation fears.
There was a blurb about the above in yesterdays WSJ.
It also said they expect to up sales to 100,000 in the next year. (no break out on boxsters vs 911 vs Peppers) The factory also said they are considering the viability of a FOURTH product line.
12-10-2004 | 06:48 PM
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From: Carlsbad, Ca.
The 911 days are numbered...The car is no longer the class of the industry and their current maint record is going to catch up with it.
My friend is on his 4th RMS leak in an 04 C2....Sad state of affairs.
My friend is on his 4th RMS leak in an 04 C2....Sad state of affairs.
12-10-2004 | 08:14 PM
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From: The Flying Turtle Ranch
design man
yesterday's Wall Street Journal had a report on it.
It also said PAG expects to sell over 100,000 vehicles in the coming year. that a 33% increase.
At the end of the WSJ piece, Wendelin or the Financial guy said they are exploring a fourth product line.
As far as I know, that's the first time the factory's mentioned it.
Probably four or five more years before they compete at teh head of world sportscar racing.
yesterday's Wall Street Journal had a report on it.
It also said PAG expects to sell over 100,000 vehicles in the coming year. that a 33% increase.
At the end of the WSJ piece, Wendelin or the Financial guy said they are exploring a fourth product line.
As far as I know, that's the first time the factory's mentioned it.
Probably four or five more years before they compete at teh head of world sportscar racing.
12-10-2004 | 08:58 PM
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From: La Jolla
Porsche basically is a SUV company building aging sport cars. The 911 despite being a stellar performer restricts styling and innovative flair. Porsche covers up this increasing obvious design retardation by claiming it is evolutionary.
Some enthusiast buy this crap but others are beginning see exactly what Porsche has been doing to them Thus you see a decline in sport car sales and more frequent criticism from auto magazine regarding ground hog styling. Apparently they increasingly are valuing their credibity over Porsches' advertising dollars.
The Boxster is the car of the future once Porsche becomes convinced they can no longer duped its enthusiast base to continue to buy the 911 with its hefty profit margin.
One final note. Over 50% of Porsches' profit is as a result of hedging dollars. It is not related to operational income.
Some enthusiast buy this crap but others are beginning see exactly what Porsche has been doing to them Thus you see a decline in sport car sales and more frequent criticism from auto magazine regarding ground hog styling. Apparently they increasingly are valuing their credibity over Porsches' advertising dollars.
The Boxster is the car of the future once Porsche becomes convinced they can no longer duped its enthusiast base to continue to buy the 911 with its hefty profit margin.
One final note. Over 50% of Porsches' profit is as a result of hedging dollars. It is not related to operational income.
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12-10-2004 | 09:21 PM
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From: Los Angeles
I disagree with those writing off the 911. True, the C6 Corvette and upcoming Z06 version may beat it on paper, but there are no rivals at the 911 price and quality level. It a real sports car that offers day-to-day driveability and a measure of practicality. The closest thing is the current M3, but when driving the two back-to-back, the BMW's 3-series roots become readily apparent.
12-10-2004 | 09:25 PM
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From: OH
Nick, Nick, Nick....don't ever change, man (sniff).
I can't wait to get my 911S Sport Utility Vehicle:
I will suffer with the paltry 93 horsepower per NA litre.
....ditto Road & Track's 69.6 mph Slalom Time.
(new 'Vette <67mph, even nimble M3 Coupe 68mph).
I will somehow tolerate the symphonic intake & exhaust music
while I sink into one of the most comfortable driving
positions I've ever experienced (only my old '78 Ferrari 308 GTS better).
When it comes to my antiquated automotive tastes, P.T. Barnum was right.
I can't wait to get my 911S Sport Utility Vehicle:
I will suffer with the paltry 93 horsepower per NA litre.
....ditto Road & Track's 69.6 mph Slalom Time.
(new 'Vette <67mph, even nimble M3 Coupe 68mph).
I will somehow tolerate the symphonic intake & exhaust music
while I sink into one of the most comfortable driving
positions I've ever experienced (only my old '78 Ferrari 308 GTS better).
When it comes to my antiquated automotive tastes, P.T. Barnum was right.
12-10-2004 | 09:44 PM
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From: OH
...and as far as the *aging design* goes,
I'm sorry but I will not be able to suppress the
urge to gawk at
the perfect 911 teardrop shape at every opportunity--
even in my own driveway!
(moved the kitchen table to the window
so I would have fine sculpture with breakfast).
Thank goodness for currency options and
Porsche's hedge honcho, or we'd be
facing serious upward price pressure
a la 1992.
I'm sorry but I will not be able to suppress the
urge to gawk at
the perfect 911 teardrop shape at every opportunity--
even in my own driveway!
(moved the kitchen table to the window
so I would have fine sculpture with breakfast).
Thank goodness for currency options and
Porsche's hedge honcho, or we'd be
facing serious upward price pressure
a la 1992.
12-10-2004 | 10:16 PM
#11
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From: new york
they are going to have to up the ante on the 911 pretty soon. The E90 M3 will have a 400HP V8. The C6 and Z06 are in the game. For Porsche to still be selling the Tiptronic in this car, when BMW is on a 3rd generation SMG box, is crazy.
the styling on the 997 is good, interior upgrades are good, but basically they should be selling the 997S as the "regular 911" and at that price point, and get a modern gearbox option.
I read in autoweek, that if there is a 4th model, it will not be priced below the Boxster.
the styling on the 997 is good, interior upgrades are good, but basically they should be selling the 997S as the "regular 911" and at that price point, and get a modern gearbox option.
I read in autoweek, that if there is a 4th model, it will not be priced below the Boxster.
12-10-2004 | 11:38 PM
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If you had told me 10 years ago that an SUV built by Porsche was going to out sell all of the sports car lines of this company combined I would not have believed it . I just think there are a lot of people who want a Porsche and for reasons of practicality can not have a sports car . Smart move by Porsche . Kind of like Rod Stewart singing old standards , what ever keeps the most CASH coming in ..
I guess I sound put off but it seems like a sell out . Porsche is still an amazing company and the CGT proves they still can make one of the finest sports cars in the world . I just keep thinking of that commercial on TV where the guy out in some suburban neighborhood running out in his pajamas putting the phone near the exhaust and letting his friend on the phone hear the exhaust . I was like Porsche is going to take this whole market to the bank big time and they have. I wonder what snow tires Porsche recommends on their $100K + 450 HP cars . I think the Cayenne is a great car and I just think if all the R&D that had gone into the Cayenne had instead gone into their current line of sports cars they would be at another level . Then again it would cost much more , I guess that is why we had the 996 for 7 years , they were working on the Cayenne and when that was done they got back on the 911 and we now have the 997 . But lets face it an SUV is what has kept this company healthy .
I guess I sound put off but it seems like a sell out . Porsche is still an amazing company and the CGT proves they still can make one of the finest sports cars in the world . I just keep thinking of that commercial on TV where the guy out in some suburban neighborhood running out in his pajamas putting the phone near the exhaust and letting his friend on the phone hear the exhaust . I was like Porsche is going to take this whole market to the bank big time and they have. I wonder what snow tires Porsche recommends on their $100K + 450 HP cars . I think the Cayenne is a great car and I just think if all the R&D that had gone into the Cayenne had instead gone into their current line of sports cars they would be at another level . Then again it would cost much more , I guess that is why we had the 996 for 7 years , they were working on the Cayenne and when that was done they got back on the 911 and we now have the 997 . But lets face it an SUV is what has kept this company healthy .
Last edited by Sobe; 12-10-2004 at 11:58 PM.
12-11-2004 | 12:01 AM
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From: La Jolla
Originally Posted by Mike in Chi
Hey Nick I need your name and address for your Christmas present.
I can only laugh when people describe their Porsche as stylistic and having an incredible sound. Talk about being blind, deaf and dumb. My lawn mower sound more aggressive and looks more updated.
