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DUBAI: Stuttgart-based Porsche targets revenues of approximately €38 billion ($38.55 billion) to €39 billion for the full year 2022 as a result of global demand trends for luxury vehicles. 

On Monday, Porsche AG held a Capital Markets Day at its Research and Development Center in Weissach to discuss market results, expansion plans, and sustainability.

As a result of continued currency growth, Porsche expects a return on sales of approximately 17 to 18 percent in 2022, the company’s Deputy Chairman and Member of the Executive Board, Lutz Meschke, said at the event.

The company delivered more than 300,000 vehicles in 2021, generating revenues of €33.1 billion, according to a statement.

In 2021, Porsche AG’s group operating profit rose 27 percent to € 5.3 billion from €4.1 billion in 2020.

A return on sales of more than 20 percent is also a long-term goal of the company, Meschke said.

A number of assumptions are also made regarding the outlook, including that economic conditions will not deteriorate and that supply chains will not face any further disruptions, he added.

Porsche aims to sell more than 80 percent of its vehicles as battery electric and become a net carbon neutral organization by 2030.

Talking about sustainability, he said: “We see sustainability holistically: economically, ecologically and socially.”