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Porsche Gives Each Of Its 25,000 Employees A Fat Bonus

Industry News / 6 Comments

That just goes to show how much money it made last year.

Porsche, it may come as little surprise, makes money hand over fist. More than just about any other brand under the Volkswagen Group's vast umbrella. In fact it made so much money last year that it's giving each of its employees a big fat bonus of €9,700 – equivalent to roughly $11,000 at current exchange rates.

The German sports-car manufacturer (which makes far more crossovers than it does actual sports cars these days) raked in an impressive €25.8 billion (nearly $30b) last year – a whopping ten percent more than the year before.

Its net operating profit also rose by four percent to €4.3 billion (~$4.9b). At the same time, its workforce ballooned by 9 percent to 32,325 employees. But the bonuses will go out to around 25,000 employees, adjusted for seniority and number of working hours.

€9,000 (~$10,250) will be paid to each of those employees as a special bonus, on which taxes will still need to be remitted, with another €700 (~$800) to be paid into each employee's pension fund. All told, the payments work out to €275 million (~$313m), or about one fifteenth of the company's net profit from 2018.

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The profit-sharing payment is a little higher than the €9,656 paid out last year, and goes to show that it pays to work for a profitable company.

"2018 was extremely challenging, and stretched our team to the limits at times. Despite this, we were still able to exceed the previous year's excellent figures for revenue, profit and deliveries, and to launch yet more outstanding vehicles onto the market," says Porsche CEO Oliver Blume. "It's all the result of a great team effort, and we are really proud of our colleagues."