Lutz Meschke, CFO of Porsche AG, was voted the "CFO of the Year" in Munich at this year's "600Minutes CFO", a cross-sector event for financial decision-makers. Porsche AG is one of the most profitable automotive manufacturers in the world due to its high earning power and the strict cost discipline exercised in the company.
"We would like to congratulate Lutz Meschke on winning this prestigious award and look forward to hearing from him as our guest of honour and speaker at the MHPSummer party next Friday" says Ingo Guttenson, Head of Marketing at MHP. "We are proud, as a Porsche subsidiary, to be part of this success story."
With earnings before tax of 2.65 billion EUR and an operating profit margin of 18%, the fiscal year 2012 was - so far - the most successful year ever in Porsche's history. This year, Porsche AG is in the process of expanding its plant in Leipzig as well as developing the SUV Macan and the super sports car 918 Spyder. Porsche will still retain a high level of profitability in spite of the investments required for this purpose. "The healthy, scalable cost structure with comparably low fixed costs is a major success factor of Porsche AG", explained CFO Meschke during the award presentation in Munich.
As the first supplier in the premium segment, Porsche is currently opening a new chapter in the success story of the company with the presentation of the Panamera S E-Hybrid. "By investing in plug-in-hybrid technology development, we can sustainably reduce CO2 emissions as well as fuel consumption and thus safeguard our strong competitive position and high profitability in the long term", continued Meschke.