Porsche warns of fall in profitability but hikes dividend on strong 2023 results
Publishing timestamp: 2024-03-12 11:07:22
Summary
Porsche expects a decline in profitability in 2024 as it launches new models, but hiked its dividend on the back of a rise in 2023 operating profit. The company is launching four new car ranges in 2024 and aims for an operating return on sales of more than 20% in the long term. Sales revenue and operating profit increased in 2023, and the company is focusing on sustainable success despite economic challenges. Sales are expected to be between 40 billion euros and 42 billion euros in 2024, with a focus on investing in the Chinese market.
Sentiment: MIXED
Tickers: P911-DE, VOW3-DE, VOW-DE,
Keywords: breaking news: business, porsche ag, earnings, luxury, breaking news: investing, breaking news: markets, investment strategy, business news, autos, volkswagen ag, markets, transportation,