 News
of February 22, 1999
(the
 will lead you to the full article)
Page 2 of 3
|
Porsche Group
half-year profits before tax reach approximately 195 million German marks |
| January 22, 1999 -- Stuttgart: At stockholders' annual
general meeting Dr. Wendelin Wiedeking, Chief Executive Officer of Dr. Ing. h.c. F.
Porsche AG, Stuttgart, Germany, announced an anticipated pre-tax Group profit for the
first six months of the current fiscal year (August 1, 1998 through January 31, 1999) of
approximately 195 million German marks (DM) compared with the previous years figure of
80.3 million DM and a profit after tax of 115 million DM (previous year 69.7 million DM). |
 |
| Preliminary figures envisage an increase of
27.5 percent in Group turnover compared with the previous fiscal year, to 2.5 billion DM,
with sales of Porsche sports cars rising by 26.4 percent to approximately 18,900 units.
Total production is estimated at 19,600 cars (an increase of 25.8 percent) - of which
5,500 will have been made in Finland. However, growth rates for the first six months
should not be projected onto the remainder of the year, because they were significantly
influenced by a fundamental factor: the first six months of the previous fiscal year
witnessed the production start-up curves for the new 911 and for Boxster assembly in
Finland. The number of Group employees will rise from 8,160 to 8,385, this being primarily
due to the recruitment of new engineers in the development department. For 1998/99 as a
whole the company anticipates increases in production and sales to approximately 40,000
cars and a Group turnover of more than 5.5 billion DM. Profits are also expected to
increase compared with the previous fiscal year.
|
| At the
Chicago Motor show Jac Nasser explained, why Ford bought Volvo: "First,
there's no debt. I've said before that we had no interest in spending our hard-earned cash
for someone else's hard-earned debt.
But more important, Volvo brings to us …
- a wonderful brand that's been global for years …
- world-class engineering, technology and R&D, particularly in safety and the
environment …
- a customer base that's younger and more female than the traditional buyers of Jaguar and
Lincoln …
- a strong dealer network in Europe and North America …
- increases this years in our revenue … earnings … and market share …
- and with new models coming from Lincoln and Jaguar, we have – over time - the
potential with Volvo to sell a million luxury cars worldwide.
|
We are already the world's leader in trucks. Why
not luxury cars?
Clearly, Volvo increases the possibilities." |
| Cadillac has designed and developed a unique 1999 Cadillac
DeVille for Pope John Paul II's use in Mexico City today. The vehicle is equipped with an
elevated platform for the papal chair, extra-wide doors, easy-entry steps, and the
official seals and flags of the Vatican. |
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