Porsche confirms forecast for the full year 2024
London, October 26, 2024, (Oilandgaspress) –––Porsche posted a group sales revenue of 28.56 billion euros in the first nine months (previous year: 30.13 billion euros). The group operating profit came in at 4.04 billion euros (previous year: 5.50 billion euros). The group operating return on sales was 14.1 percent (previous year: 18.3 percent). Automotive net cash flow amounted to 1.24 billion euros (previous year: 3.39 billion euros).
The earnings per ordinary share after the first nine months was 3.03 euros (previous year: 4.32 euros), the earnings per preferred share was 3.04 euros (previous year: 4.33 euros). The current financial year is fundamentally characterized by Porsche’s year of product launches. The sports car manufacturer has updated five of its six model lines in just a few months and will be offering the youngest product portfolio in years. This context has high market potential for the years ahead. One good example is the Cayenne. The current version launched at the end of 2023 and recorded an increase of 21 percent in the first nine months of 2024. This year, deliveries of the new all-electric Macan have begun, following on from the updated Panamera, Taycan and 911 models.
The number of overall deliveries in the first nine months was 226,026 vehicles (previous year: 242,722). “In China, we are dealing with a structural shift in demand. In addition, the global transformation towards electric vehicles is proceeding more slowly than originally assumed. For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets and cost position. All with the aim of increasing our flexibility and resilience even further,” says Meschke. Porsche will consistently focus on aligning supply and demand in line with its ‘value over volume’ strategy. This is particularly in the Chinese market, where there continue to be challenges.
In spite of the challenging overall situation, Porsche is reaffirming its forecast for the full year 2024 – providedthat the framework conditions do not worsen significantly. This particularly applies to macroeconomic risks, such as the introduction of additional import restrictions and tariffs
The forecast is based on the following figures:
Sales revenue of 39 to 40 billion euros.
Operating return on sales of 14 to 15 percent.
Automotive net cash flow of 7 to 8.5 percent.
Automotive EBITDA margin of 23 to 24 percent and
BEV share of between 12 and 13 percent.
| Porsche AG Group | Q1-Q3 2024 | Q1-Q3 2023 | Change |
| Sales revenue | € 28.56 billion | € 30.13 billion | -5.2% |
| Operating profit | € 4.04 billion | € 5.50 billion | -26.7% |
| Operating return on sales | 14.1% | 18.3% | |
| Deliveries | 226,026 | 242,722 | -6.9% |
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