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Aug 22, 2005 8:18:41 PM

OCEAN: Expert; Loc: US; Posts: 1334, Gallery; Registered on: Sep 28, 2004

Porsche makes U.S. profits without foreign exchange hedges

Reuters / August 22, 2005
FRANKFURT -- German luxury sports car maker Porsche earns money in the United States even without currency hedges that flatter its results, Chief Executive Wendelin Wiedeking was quoted as saying.

"The market in the United States is very large. We could do even more there," Germany's Boersen-Zeitung quoted him as saying in an interview to be published on Tuesday, suggesting it was under-represented there compared with parts of Europe.

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Aug 22, 2005 9:25:35 PM

SoCalHoosier: Veteran; Loc: California , United States; Posts: 896, Gallery; Registered on: Jun 13, 2003; Reply to: OCEAN

Re: Porsche makes U.S. profits without foreign exchange hedges

I wonder if it's because of their minimalist approach when it comes to revamping their line-up... or could it be the whopping $40K profit from every 911 sold.

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Aug 22, 2005 10:32:22 PM

tso: Senior; Loc: Denmark , United Arab Emirates; Posts: 747, Gallery; Registered on: Mar 20, 2004; Reply to: SoCalHoosier

Re: Porsche makes U.S. profits without foreign exchange hedges

Well that can only lead to the following, either the dear Doctor Wiedeking is full of [censored], or he is beating the [censored] out of the European buyers with the current exchange rates

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Aug 23, 2005 1:21:47 AM

911fan: Senior; Loc: usa; Posts: 554, Gallery; Registered on: Feb 20, 2005; Reply to: SoCalHoosier

Re: Porsche makes U.S. profits without foreign exchange hedges

Quote:
or could it be the whopping $40K profit from every 911 sold

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Aug 23, 2005 2:43:07 AM

AJVIP: Expert; Loc:; Posts: 1862, Gallery; Registered on: May 30, 2005; Reply to: OCEAN

Re: Porsche makes U.S. profits without foreign exchange hedg

I did an analysis on Porsche last year - no matter what they say, they are one of the best when it comes to making profit on currency hedging - they are the Goldman Sachs of automakers (I don't mean to portray Goldman in a good way cause they really aren't - they have trailed my firm in many league tables countless times for the last several quarters) - I call them that because like Goldman, a lot of undisclosed revenue is a result of betting on which way the currency is going. You have to tip your cap to them, they are faring much better in this area than their American counterparts (even better than Daimler). I haven't reviewed their financials recently, but when I penned that analysis, the profit they make from currency hedging outweighs the profits they make on all their vehicles combined.

Impressive financially, I say.

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Aug 23, 2005 4:57:25 AM

igzaklee: Senior; Loc: BH , United States; Posts: 797, Gallery; Registered on: Aug 16, 2003; Reply to: AJVIP

Re: Porsche makes U.S. profits without foreign exchange hedg

^^^ aj, you're with Lehman i presume??...

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Aug 25, 2005 4:12:35 AM

AJVIP: Expert; Loc:; Posts: 1862, Gallery; Registered on: May 30, 2005; Reply to: igzaklee

Re: Porsche makes U.S. profits without foreign exchange hedg

Quote:
igzaklee said:
^^^ aj, you're with Lehman i presume??...

No, I'm not pretentious in needing to wear a suit every day (as per their dress code).

Top 3 in investment banking revenues YTD however (a clue for ya).

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Aug 25, 2005 7:15:14 AM

BC: Rennteam Pro; Loc: Cape Town , South Africa; Posts: 2586, Gallery; Registered on: May 19, 2005; Reply to: 911fan

Re: Porsche makes U.S. profits without foreign exchange hedges

Quote:
911fan said:

Quote:
or could it be the whopping $40K profit from every 911 sold

Wow...And that probably just for the base 911's, the Carrera's????

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