Porsche revenue rose by 25.5% to €10.10B

Porsche AG has posted a highly successful start to its first year after going public. In the first three months, both Group sales revenue and Group operating profit rose by more than a quarter.

Sales revenue rose by 25.5 per cent over the same period last year to 10.10 billion euros (previous year: 8.04 billion euros). Group operating profit rose by 25.4 per cent from 1.47 billion euros to 1.84 billion euros. At 18.2 per cent, the Group operating return on sales was on par with the figure for the same period last year. After the first quarter, automotive net cash flow was 1.43 billion euros (previous year: 778 million euros). The net cash flow margin for the automotive segment rose to 15.3 per cent (previous year: 10.6 per cent). Net cash flow for the previous year was impacted by serious disruptions in the supply chain, among other issues.

Markets around the world remain volatile – so we’re all the more satisfied with our figures. The significant growth is due to a number of factors: higher Group sales, continued positive pricing and mix effects. We keep driving our strategy of modern luxury forward, in the interest of our customers,” says Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT at Porsche AG.

The  financial services division Porsche Financial Services (“PFS”) continued its steady growth in the first three months of the year: Sales revenue rose to 803 million euros (previous year: 776 million euros). The inflation-related rise in the key interest rate quickly reverberated in financing products. The share of leased and financed new vehicles declined accordingly to 41.5 per cent (previous year: 45.7 percent). PFS’s operating profit declined to 86 million euros (previous year: 102 million euros). The downturn is primarily the result of the valuation of interest rate hedges and derivatives.

Porsche AG GroupQ1 2023Q1 2022Change
Sales revenue€10.10 billion€8.04 billion+25.5%
Operating profit€1.84 billion€1.47 billion+25.4%
Operating return on sales18.2%18.2% 
Automotive Net cash flow€1.43 billion€0.78 billion+83.6%
Deliveries to customers80,76768,426+18.0%

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