Porsche : 1999/2000 Business Results

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Turnover, sales and output in 1999/2000 have increased again

Stuttgart. Dr. Ing. h.c. F. Porsche AG, Stuttgart, recorded a renewed surge in growth in the 1999/2000 business year (August 1, 1999 to July 31, 2000). Chief Executive Dr. Wendelin Wiedeking commented on the provisional figures as follows: "We have kept our word and clearly surpassed even our own ambitious targets!"

Group turnover, according to provisional figures went up by over 13.3 percent to approximately seven billion DM (previous year: 6.2 billion DM). 48,815 cars were manufactured, 8.2 percent more than in the previous year (45,119).

This growth was only possible because additional Boxster assembly in Finland was increased from 13,459 to 16,803 vehicles. Group sales were increased by 10.9 percent to 48,797 vehicles (previous year: 43,982 vehicles).

The 911 accounted for 23,050 units, of which 1,605 were already the Turbo model launched in June 2000. The new Boxster S, with 10,770 units, accounted for 41,8 percent of the total of 25,747 units for the Boxster model line. The pre-tax result has also improved further (previous year: 698.2 million DM) despite considerable development costs for the Porsche Cayenne.

Thanks to the sustained high popularity of both model lines and the increase in Turbo production to about 4,000 units, Porsche anticipates further growth in production and sales for the 2000/2001 business year. Although the current business year is the most seriously affected in terms of development costs for the Cayenne - Porsche's sports utility vehicle - the company still looks forward to a favorable profit situation. Dr. Wiedeking: "We are on course. Although development sector costs are still increasing because of new projects, we remain highly profitable."

September 19, 2000

In FY 1997/1998 Sales increased by 23%
(Fiscal year from August 1^st, 1997 to July 31^st, 1998)

Total sales volume in FY 1997/1998 was at 30,100. This was an increase of 23% against the former year. The increase was due to both the Boxster and to the new 911. Porsche profited from the sound economic development in those countries that are important for Porsche sales. With the exception of Japan, all significant markets recorded growing economic performance, low inflation, stable exchange rates, and strong markets. Even in Southeast Asia, there were positive sales figures for Porsche: sales to Hong Kong and also those of Taiwan exceeded those for the previous year.

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