Porsche AG Increases Sales, Operating Profit in 1st Half

German sports car manufacturer Porsche AG Thursday said it increased sales and operating profit in the first half of the year, despite the clouded economic environment in Europe.

MAIN FACTS:

-Sales in the first half of 2013 rose 4% on the year to 7.03 billion euros ($9.3 billion), while the operating result increased 2.6% to EUR1.29 billion.

-Deliveries increased 18% to 81,565 vehicles in the period from January to June.

-"Through growth and cost discipline, we compensate our substantial expenditures for the development of new models such as the super sports car 918 Spyder and the sports SUV Macan," Chief Executive Lutz Meschke said.

-Deliveries in the first half in China rose 20% to 18,323 vehicles and in the U.S. by 30% to 21,309 units.

-Deliveries to customers in Europe rose only slightly by 2% to 26,199 vehicles due to the difficult economic environment.

-For 2013, Porsche overall aims to match the prior year level, while expecting to grow in its most important sales markets in the U.S. and China.

-Porsche AG is the maker of Porsche cars. It is 100% owned by Volkswagen AG (VOW.XE). Porsche Automobil Holding SE (PAH3.XE) is a holding company, which holds a minority stake in Volkswagen AG, but is not involved in car manufacture.

-Write to the Frankfurt Bureau at [e-mail]

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