Porsche reports a 25% increase in operational profit in Q1 due to record deliveries.
Porsche, a luxury automaker, stated on Wednesday that its first-quarter return on sales was comparable to last year’s at 18.2%, while revenue and operating profit increased by a quarter as a result of record-high deliveries. The automaker reiterated its goals for 2023, targeting a return on sales of 17% to 19% on revenue of 40 to 42 billion euros. The automaker recorded an 18% increase in deliveries in the first quarter, helped by a significant increase in China. In its financial services division, operating profit fell to 86 million euros from 102 million, which it attributed to the valuation of…