Luxury automaker Porsche issues growth outlook after record 2022 earnings

Luxury automaker Porsche AG issued an ambitious long-term outlook of more than 20% of return on sales, after posting record 2022 earnings on Monday on the back of higher deliveries.

The carmaker said its operating profit rose by 27% to 6.77 billion euros ($7.23 billion) last year, when deliveries rose by 2.6% to 309,884 units.

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Porsche CEO Oliver Blume told CNBC on Monday that 2022 was a “very successful year,” with record sales, revenue and operating profit and a profit margin of 18%.

“Looking back over the last year, I think the main effects we had were a very positive product mix, our cost work is very, very…