BERLIN, June 22 (Reuters) – Porsche still expects its operating margin to recover to between 5.5% and 7.5% this year, despite persistent challenges in key markets, the 911 sports car maker’s CEO said in a speech, whose text was published online on Monday.
“In the short term, we will not see a return to the targeted margins we have seen in the past,” Porsche CEO Michael Leiters will tell investors at the company’s AGM on Tuesday, according to the text, which highlighted fundamental changes in the U.S. and China.
Still, Leiters confirmed the Volkswagen subsidiary’s forecast, “despite the environment remaining very challenging”.
(Reporting by Rachel MoreEditing by Tomasz Janowski)
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