▪ Porsche posts successful 2023 financial year: Group sales revenue increases to 40.5 billion euros and Group operating profit to 7.3 billion euros.
▪ Four new model launches in 2024 will lay the groundwork for a successful future.
▪ CEO Oliver Blume: “The Porsche team can be proud of their performance. We have had a strong financial year. 2024 is going to be a year of product launches for Porsche – more so than any year in our history. We will be introducing a variety of exhilarating sports cars to the road, they will delight our customers around the world. This will put the wind at our back for years to come.”
▪ CFO Lutz Meschke: “Porsche proved in 2023 that it is resilient, highly profitable, and financially robust even in volatile times. And we’re benefitting from an even better balanced sales structure than in the past. On this basis, we’re laying the groundwork in 2024 for a flying start in 2025.”
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. “We have had a strong financial year,” says Chairman of the Executive Board Oliver Blume.
Group sales revenue totaled 40.5 billion euros in 2023. This marks a 7.7 percent increase (previous year: 37.6 billion euros). Group operating profit rose by 7.6 percent to 7.3 billion euros (previous year: 6.8 billion euros). The Group's operating return on sales remained stable at 18.0 percent – despite disruptions to global supply chains, significant inflation, and exceptionally high investments in digitalization, product and innovation portfolios, and the brand experience.
Porsche is highly profitable and has met its ambitious forecasts
Lutz Meschke: “Porsche proved in 2023 that we are resilient, highly profitable, and financially robust even in volatile times. And we benefit from an even better-balanced sales structure than in the past,” he says. “On this basis, we’re laying the groundwork in 2024 for a flying start in 2025. Our focus remains on the sustainable success of the company. Our customers and employees, the company, and our shareholders all benefit.”
In the 2023 fiscal year, the earnings per ordinary share were 5.66 euros and the earnings per preferred share were 5.67 euros. In line with the current dividend policy, the Executive Board and Supervisory Board of the Annual General Meeting will propose a dividend payment of 2.1 billion euros for the 2023 fiscal year. This amounts to more than 40 percent of the Group’s net income after tax 2.30 euros per ordinary share and 2.31 euros per preferred share. In the medium term, Porsche plans to distribute 50 percent of the Group’s net income after tax to shareholders.
Four model launches make 2024 a Porsche product year
“The Porsche team can be proud of their performance in 2023. Despite all the challenges, our customers have been thrilled with our exciting products, across all model lines,” continues Blume. In 2023, deliveries to customers rose by 3.3 percent to 320,221 vehicles. The results in the various sales regions were even more balanced than in the previous year. On this stable footing, Porsche aims to bring no fewer than four new or considerably revised model lines to the market in this year of product launches.
It begins with the third generation of the Panamera. The luxury sedan emphasizes its sporting character with even more powerful drivetrains. A fundamentally modernized control concept and numerous innovative technologies further sharpen its profile. These include the new Porsche Active Ride suspension. It combines a significantly higher level of comfort with the sporty driving characteristics for which Porsche is known.
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), 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. The revamped Cayenne hit the market at the end of 2023. The third generation of the luxury SUV has been extensively upgraded in its powertrain, chassis, design, equipment, and control concept.
