Porsche achieves record figures
Group sales revenue in 2022 amounted to 37.6 billion euros, corresponding to growth of 13.6 per cent (2021: 33.1 billion euros). The Group operating profit was 6.8 billion euros, exceeding the previous year’s figure by 1.5 billion euros (an increase of 27.4 per cent). Group Deliveries and automotive net cash flow also reached new all-time highs in 2022. The Group operating return on sales rose from 16.0 per cent to 18.0 per cent. This year, the Stuttgart sports car manufacturer is pushing its strategy of modern luxury forward and has started its ambitious Road to 20 programme to ensure its long-term profit goal.
“In difficult conditions, we achieved the strongest result in the history of Porsche, by some distance,” says Oliver Blume, Chairman of the Executive Board, as he looks back with satisfaction. “We were also able to offer our customers exciting new products yet again in 2022. This is the result of a great team performance.”
Porsche AG has well-filled order books and was able to deliver 309,884 vehicles to customers in the previous year, despite the effects of the war in Ukraine, the challenges of the coronavirus pandemic, and global supply chain disruptions. This corresponds to an increase of 2.6 per cent compared to 2021 (301,915 vehicles). In the 2022 financial year, automotive net cashflow increased from 3.7 billion euros to 3.9 billion euros. “Our success factors are improved price positioning, the strong product mix, the increase in vehicle sales, exchange rate effects, and our strict cost discipline,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT.
Road to 20 makes Porsche more resilient and the brand even stronger
The Porsche team continues to set itself high targets for the future. In 2023, the company started its ambitious Road to 20 programme, with which Porsche is aiming for a Group operating return on sales of more than 20 per cent in the long term. “With the Road to 20 we are making Porsche even more resilient and our brand stronger than ever,” says Meschke. “And we’re going to take a fresh look at everything, from our product range and pricing to our cost structure. We want to increase the quality of our contribution margins and make our products even more attractive.” The Road to 20 programme is the continuation of the successful Profitability Programme 2025, with which Porsche made itself more resistant to crises in previous years.
From this position of strength, the sports car manufacturer heralded a new era on 29 September 2022 with the biggest IPO in Europe (in terms of market capitalisation). “We can now become even more focused and pick up even more speed,” continues Meschke. “The newly attained autonomy gives us additional entrepreneurial freedom. We will strengthen specific capabilities in key areas such as software and battery technology.”
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