Porsche revenue rose by 12.6% to €30.13b in first nine months
London, 25 October 2023, (Oilandgaspress) – Porsche AG again reported strong business figures for the third quarter of 2023. In the first nine months of the year, the sports car manufacturer increased both Group sales revenue and Group operating profit.
Sales revenue rose by 12.6 percent to 30.13 billion euros. The operating profit rose by 9.0 percent to 5.50 billion euros. At the end of the third quarter 2023, the Group operating return on sales of the Porsche AG Group was at 18.3 percent – and therefore in the upper half of the self-imposed target corridor (previous year: 18.9 percent). Net cash flow for the automotive segment was 3.39 billion euros (previous year: 3.27 billion euros). The net cash flow margin for the automotive segment came in at 12.2 percent (previous year: 13.4 percent). Deliveries to customers rose by 9.6 percent to 242.722 vehicles in the first nine months of 2023.
In the course of the year, Porsche has accelerated its investments in future technologies, motorsports and activities to strengthen the brand – such as the ‘75 Years of Porsche Sports Cars’ anniversary. Added to this are the costs of preparing for upcoming product launches; no fewer than four new models are scheduled hit the market in 2024. Despite the aforementioned expenses and inflation, the Group operating return on sales remains at a high level.
Taycan success story continues
Deliveries of the all-electric Taycan sports car increased by 11 percent to 27,885 units in the first nine months of 2023 compared to the same period last year. “The Taycan is and will remain a success story,” continues Meschke. Prior to its market launch in 2019, Porsche expected sales of 20,000 cars per year. “We have always clearly exceeded this goal – despite difficult circumstances in the supply chain and sales regions, where development in terms of e-mobility can vary significantly.”
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