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News of  November 21, 2001

Porsche's profit up by more than a third

70 percent higher dividend for shareholders

Stuttgart - Dr. Ing. h.c. F. Porsche AG of Stuttgart increased its pre-tax profit considerably in the 2000/01 fiscal year, which ended on July 31, 2001. This was in spite of further increased development expenditure on its sports car model lines and the Cayenne sport off-road vehicle. The Group's pre-tax result, confirmed at today's meeting of the Supervisory Board, is 592.4 million Euro (1.16 billion German Marks), 36.5 percent higher than in the previous year (433.8 million Euro). The Group's surplus for the year after tax is also up, to 270.5 million Euro (210.0 million Euro in the previous year).

Porsche AG also improved its pre-tax result considerably, from the previous year's 245.7 million Euro to 517.0 million Euro, including transferred income of 117.5 million Euro from Group subsidiaries (previous year: 7.5 million). The surplus for the year was 268.0 million Euro, following 110.4 million Euro a year previously.

A proposal will be submitted to the Shareholders' Annual General Meeting on January 18, 2002 that a dividend of 2.54 Euro per no par-value share be distributed to holders of common stock and 2.60 Euro to holders of preferred stock. The sum to be allocated to the payment of these dividends (45 million Euro) is 70 percent higher than last year's figure of 26.4 million Euro. For the 1999/00 fiscal year common stock holders received a dividend of 1.48 Euro and preferred stock holders a dividend of 1.53 Euro (after adjustment for share splitting). The general meeting will be asked to approve the allocation of the remaining balance-sheet profit of 89 million Euro in the 2000/01 accounts to retained income.

In 2000/01, Porsche considerably expanded its business volume. Group sales of sports cars rose by 11.9 percent to 54,586 units and turnover went up by 21.8 percent to 4.44 remain positive. In the words of Porsche's Chief Executive Dr. Wendelin Wiedeking: "There is strong demand all over the world for our two model lines, the 911 and the Boxster. Even if, on account of the uncertain world economic situation, we do not succeed in equalling the previous year's sales volume, our results will profit from the improved model mix with greater emphasis on higher value sports cars and also from a higher level of foreign-exchange hedging, in particular against the US dollar."

(November 16, 2001

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