Last year, the VW brand earned 18 percent before interest and taxes. Porsche announced on Tuesday that it is targeting a range of 15 to 17 percent on sales of around 40 to 42 billion euros in 2024. With the new editions of the Panamera, Taycan, Macan and 911, the Swabians are bringing more models onto the market this year than ever before. "We are launching an unprecedented product offensive in 2024," explained Porsche CEO Oliver Blume. "This will give us a tailwind for the coming years."

Last year, the sports car manufacturer earned an operating profit of 7.3 billion euros with an increase in turnover of almost eight percent to 40.5 billion euros. As in the previous year, the margin was 18 percent - "despite disruptions in global supply chains, strong inflation and exceptionally high investments." Demand was high and costs were kept in check. Sales rose by a good three percent to around 320,000 vehicles. The Macan SUV will be launched as an electric car in the second half of the year. "Customer demand has developed very positively since the order book opened," explained Porsche.

More than 40 percent of the Group's profit is to be distributed to shareholders in the form of dividends - 2.30 euros is proposed for ordinary shares and 2.31 euros for preference shares - analysts had expected an average of 2.41 euros. In the medium term, Porsche wants its shareholders, primarily the Volkswagen Group and its owner families Porsche and Piech, to benefit from 50 percent of the Group result.

(Report by Ilona Wissenbach, edited by Ralf Banser. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)