Porsche FY 2010 Closed With An Operating Profit Of 688 Million Euro And A 17.8% Return On Sales
The automotive industry is on the recovery, with big sales increases coming from North America and developing countries such as China. Porsche has announced it will be giving out a special payment to employees for the past financial year.
Porsche AG, Stuttgart, employees will receive a special payment of 1.700 euro for the successfully concluded short financial year 2010 (from 1 August to 31 December 2010). That was the agreement reached by the Board of Management and Group Works Council. The special payment will be made in the end of April pay packet to every full time Porsche AG employee covered by the collective pay agreement who joined the company on or before 1 August 2010.
Thanks to Porsche AG’s outstanding business performance, the short financial year 2010 closed with an operating profit (profit before financial result) of 688 million euro and a 17.8 per cent return on sales. “This result is underpinned by the energy and flexibility of our highly motivated employees. That is why they have earned themselves the special payment, as a special thank you for their enormous dynamism,” said Thomas Edig, Deputy Chairman of the Board of Management and Executive Vice President of human resources.
By way of emphasis, Uwe Hück, Chairman of the Group Works Council, said: “We, the employee representatives, were able to reach agreement with the employer on this impressive amount of 1.700 euro for the five-month short financial year. The special payment, excluding any special items, has never been so high. This is a tremendous success. We were also able to secure an improvement in the self-funded retirement scheme. That is fantastic for our colleagues’ provision for their own future. We are very proud of that.”
Source: Porsche, AG
Photo: Financiaurl.com
