STUTTGART (dpa-AFX) - Following last year's slump in profits, sports car manufacturer Porsche AG has set surprisingly low profitability targets for 2026. The operating return on sales for the Group is expected to range between 5.5 and 7.5 percent, the Volkswagen-owned company announced in Stuttgart on Wednesday. Analysts had recently projected an average of nearly 8 percent for the coming year. Management, led by new CEO Michael Leiters, anticipates revenue of between 35 and 36 billion euros. Last year, the extension of the internal combustion engine lineup weighed on the figures, in addition to an already weaker daily business. As previously reported, revenue fell by nearly a tenth to 36.3 billion euros, while the operating margin plummeted from 14.1 percent to just 1.1 percent./men/stk
Porsche Automobil Holding SE is a holding company owning 53.3% of Volkswagen AG, the world leading car manufacturer (passenger cars and utility vehicles) under Volkswagen, Audi, SEAT, SKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN. The group also offers financial services (sales financing, insurance, etc.). Also, Porsche Automobil Holding SE owns a 35.5% stake in European Transport Solutions (development of mobility solutions), 11.3% in Inrix (development of mobile application solutions for road traffic; the United States) and in the Markforged and Seurat companies (development of printing solutions).
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