Porsche revs up Volkswagen earnings

German automaker Volkswagen is raising its dividend after turbocharged earnings from its Porsche luxury line offset a slip in revenues from mass-market cars.

The automaker said today that 2013 operating earnings, which don't count tax and one-time charges, rose slightly to 11.7 billion euros ($ 16.3 billion) from 11.5 billion euros last year. That was enough for it to raise the dividend to 4 euros per ordinary share, from 3.50 euros.

Porsche, maker of the 911 sports car and Cayenne sport-utility vehicle, made a major contribution, with 2.6 billion euros in operating earnings and a fat 18 per cent profit margin. But sales fell 4.4 per cent at the mass-market Volkswagen brand, due to spending on new technology, a stronger euro, and a slack economy in Western Europe.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture