Quote:
At a time when most automakers are struggling with a sharp downturn, making a €8.586 billion profit (before taxes) in the fiscal year 2007/2008 that ended on July 31 definitely comes to a surprise - especially when we're talking about a company of the size of Porsche. The prior-year figure had been €5.857bn meaning that Porsche's net profit jumped a whopping 46%. But what's even more startling is the fact that the German automaker reported that from the €8.586bn it earned in the 2007/2008 fiscal year, less than €1bn was attributable to operating profits from its car division. So where did the €7.8bn come from?
Well, believe it or not, Porsche made an astonishing €6.83bn from trading in VW shares, and a further €1bn from the rising value of its Volkswagen stake which was 22.3% in July! Porsche currently owns a direct stake in VW of 42%, and controls about 32% more via stock options.
In terms of selling cars, Porsche's turnover was about €7.5bn or €1.4bn less than the firm's overall net profit in the same fiscal year..
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http://carscoop.blogspot.com/2008/11...vw-shares.html
Just amazing how this company makes money, last month they gave out $5000 bonuses to their workers and something like $4500 last year.
11-10-2008, 11:43 PM
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