After a successful 2018 financial year, Porsche is rewarding its employees with a €9,700 bonus, before tax, equal to $11,027 at today’s exchange rates.
Adjusted to individual working hours and years of service with the company, the sum, which isn’t specifically based on different pay levels but is a fixed sum across the board, will be paid to around 25,000 people, who will receive it with their April salaries.
Porsche explained that it consists of two parts: €9,000 ($10,232) as a performance bonus for the 2018 financial year and €700 ($796) as a special contribution to the VarioRente pension scheme or a personal pension fund.
“My colleagues have made an outstanding contribution to Porsche, and the bonus is a way of recognizing the dedication they have shown in achieving these results”, commented Chairman of the Group Works Council, Werner Weresch. “The whole thing has been a genuine team effort. Many thanks must go to the entire workforce for their commitment and their flexibility.”
Handing out annual bonuses is not something new for Porsche. In 2018, they rewarded employees with €9,656 ($10,977), and the year before with €9,111 ($10,358). In 2016, the automaker gave out a special bonus of €8,911 ($10,130), and in 2015, the sum was €8,600 ($9,777).
Worldwide deliveries of Porsche cars increased by 4 percent last year, to 256,255 units. At the same time, revenue increased by 10 percent to €25.8 billion ($29 billion), net operating profit grew by 4 percent to €4.3 billion ($4.9 billion) and return on investment was 16.6 percent, while the automaker’s overall workforce rose by roughly 9 percent, to 32,325.