Energy, Automobile, EV, Renewable News | Porsche Group expects operating return on sales of 15 to 17% in 2024

Porsche Group expects operating return on sales of 15 to 17% in 2024

March 12, 2024

London, 12 March 2024, (Oilandgaspress): –Porsche AG closed out a very successful 2023 financial year and is planning the biggest year of product launches in the company’s history in 2024. With four new launches in the Panamera, Macan, Taycan and 911 model lines, the sports car manufacturer will continue to pick up speed in 2025.

Group sale revenue totaled 40.5 billion euros in 2023. This marks a 7.7 per cent increase (previous year: 37.6 billion euros). Group operating profit rose by 7.6 per cent to 7.3 billion euros (previous year: 6.8 billion euros). The Group operating return on sales remained stable at 18.0 per cent – despite disruptions to global supply chains, significant inflation and exceptionally high investments in digitalization, product and innovation portfolios, and the brand experience. “Our strong results are due to the high demand for our attractive products and our strict cost discipline,” says Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT. Automotive net cash flow in the 2023 financial year amounted to 4.0 billion euros (previous year: 3.9 billion euros).

The next generation of the all-electric Taycan sports car goes on sale in the spring. The new version has more power, a longer range, accelerates faster and charges in less time with greater stability. The Taycan Turbo GT also celebrated its world premiere yesterday. With it, Porsche is transferring its GT tradition into the electric age for the first time – with a top speed of 305 km/h, up to 815 kW (1108 PS, Taycan Turbo GT (WLTP): Electrical consumption combined: 21.6 – 20.7 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A; Status 03/2024) and a 0 to 100 km/h time of 2.2 seconds. In the second half of the year, the second generation of the Porsche Macan will join the line-up in all-electric form. It will be manufactured in Leipzig alongside its ICE sister model, which will continue to be offered. Customer demand has developed very positively since the order books opened.

The product upgrade of the 911 is planned for early summer – including a high-performance hybrid drive. Oliver Blume: “Once again we are deploying technology in series-production models that we have derived from the world of motorsport. And our customers can look forward to further technological innovations along those same lines.” The revamped Cayenne hit the market at the end of 2023. The third generation of the luxury SUV has been extensively upgraded with regard to its powertrain, chassis, design, equipment and control concept.

Porsche is also sticking to its ambitious sustainability targets. In 2030, Porsche has the ambition to deliver more than 80 per cent of new vehicles fully electrified – depending on the demand of our customers and the development of electromobility in the respective regions of the world. Complementary, Porsche also focuses on eFuels. Renewable synthetic fuels allow combustion engines to operate potentially nearly carbon neutral. Porsche also thinks about the existing fleet. There are about 1.3 billion vehicles with combustion engines in the world. Many of them will probably still be used in 30 years or more. Together with partners, Porsche started the first commercial eFuels plant in Chile. With this pilot plant, Porsche and its partners show how the production of eFuels can work on an industrial scale. When added to fuel, eFuels can reduce fossil CO2 emissions.

Porsche also aims to use more environmentally friendly materials in its new cars .

At the end of 2023, the Porsche Group had 42,140 employees. This equates to an increase of 7.6 per cent. Particularly in the areas of development and IT, Porsche hired a number of people in order to further strengthen its technical and software expertise.

Deliveries	320,221	309,884	+3.3%
Sales revenue	€40,530 million	€37,637 million	+7.7%
Operating profit	€7,284 million	€6,772 million	+7.6%
Operating return on sales	18.0%	18.0%
Automotive net cash flow	€3,973 million	€3,866 million	+2.8%