Turnover was up 15% at €33.1 billion ($36.6 billion) for a rise of 27% in operating profits of €5.3 million. Bottom line profits came in at €4 billion, from €3.2 billion in 2020.

The iconic German carmaker is well placed strategically, operationally and financially in the view of chief financial officer Lutz Meschke. “For that reason, we look to the future with confidence and welcome moves to investigating listing Porsche,” Meschke said.

“Porsche could enhance its profile and boost its business freedom thereby,” he added.

Porsche is seen as a high-performing component within the Volkswagen Group, and moves towards a separate listing later this year have been announced. Executives are currently investigating the options.

The war in Ukraine is, however, causing concern. At the beginning of the month, Porsche announced it was ceasing business operations in Russia.

The conflict has also affected supply chains, compelling the company to halt production of the Taycan electric sportscar temporarily at its Stuttgart-Zuffenhausen plant last week.