Porsche Posts €5.6B Profit in 2024

Click for more.

Porsche AG (P911.DE) said today that it finished the 2024 financial year with a Group operating profit of €5.6 billion based on record sales in four out of five regions of the world. The operating profit dropped -22% Year over Year. Electrified vehicles accounted for a 27% share of the 310,718 vehicles sold. This is a 14.1% return on €40.8 billion in sales revenue (-14% YoY). (Read AutoInformed on: Porsche AG Changes Its Executive Board)

“We have renewed five out of six model lines and extensively refreshed our product portfolio. This has laid the foundation for our success in the coming years, with the clear goal of exciting our customers with our iconic sports cars,” said CEO Dr Oliver Blume. “In view of the changed circumstances, we have adjusted our product strategy in all segments. And we further developed our proven and successful Porsche strategy over the course of last year to make the company even more flexible, robust and high-performing,” claimed Blume.

Model Lineup and Other Highlights

• Porsche will offer further highly emotive derivatives, especially of the 911. These include high-yield and exciting limited-edition models. The sports car icon will revive the style of the 1970s via a heritage limited-edition model from Porsche Exclusive Manufaktur – the third of four collector’s cars from the Heritage Design Strategy. In the medium term, the 911 family will also welcome an additional flagship model, which will raise the bar even further in the sports car segment.
• In order to make the Macan better, Porsche decided to fully electrify the model line. “Porsche stands by this decision. The all-electric Macan sets new standards in terms of performance, driving experience and design and has been very well received by customers. Once the combustion-engine models of the same name have been phased out, the Macan will be sold exclusively as an all-electric model, worldwide. “
• Porsche is continuously monitoring market development and customer demand. “If necessary, the company looks ahead and adapts its product strategy. Porsche is currently evaluating an independent model line in the SUV segment with combustion and hybrid powertrains. “It would have a new design and Porsche’s characteristic profile, and would benefit from synergies. The model could be launched towards the end of the decade.”
• “At Porsche, all three drive technologies symbolize emotion, performance and efficiency. An example of this is the Cayenne. In 2023, the current generation (a mix of combustion-engine and plug-in hybrid models) received one of the most extensive product upgrades in Porsche’s history and it will be further developed in the future with considerable engineering effort. The sales of this model line were at an all-time high in 2024. At the same time, the fourth generation of the bestseller – a completely newly developed and designed model – is intended to significantly support the ramp-up of electric mobility at Porsche. The combustion-engine and electric models will be available in parallel well into the 2030s. Following on from the all-electric Cayenne, Porsche will introduce all-electric sports cars in the 718 segment.”
• Porsche is also expanding the possibilities for customization. “There are already more than 1000 Porsche Exclusive Manufaktur options available, while the Sonderwunsch program provides the scope for almost anything that a customer could wish for – from exclusive details through to factory one-offs. Over the past five years, the average revenue per vehicle with Exclusive Manufaktur options has doubled. To enable even more individual customer dreams to be fulfilled, Exclusive Manufaktur’s capacity is to be significantly expanded.”
• Motorsports: Porsche in 2024 won the FIA World Endurance Championship (WEC) driver’s title and all classes in the American IMSA racing series. In Formula E, works driver Pascal Wehrlein became the drivers’ world champion.

Dividend at 2023 Amount

In the 2024 financial year, earnings per ordinary share amounted to €3.94 and earnings per preferred share to €3.95. The Executive Board and Supervisory Board will propose to the Annual General Meeting of Porsche AG a dividend payment of €2.1 billion. As in 2023, this corresponds to €2.30 per ordinary share and €2.31 per preference share.

For the 2025 financial year, Porsche AG expects a Group operating return on sales in a range of 10% to 12%. “This is below the figure for the 2024 financial year. Besides the additional investments that are planned, the main reasons for this include reduced vehicle sales and an unchanged high cost level in the value chain. In addition, very high depreciation will remain due to the extensive investments of recent years. This forecast includes assumed sales revenues in the region of ~€39 to  €40 billion.

“In the long term, we remain committed to our fundamental ambition of a Group operating return on sales of more than 20%. In the medium term, we are aiming for 15% to 17% due to the persistently challenging environment,” said Dr Jochen Breckner. “Porsche has proven in 2024 that we operate highly profitably even in challenging times. In the long term, we remain committed to our fundamental goal of a Group operating return on sales of more than 20%. In the medium term, we are aiming for 15% to 17% due to the persistently challenging environment. We are consciously setting out on a comprehensive re-calibration and sustainably strengthening Porsche for the future,” claimed Breckner.