"Porsche Achieves 'Record High' Performance... Aiming for 20% Profit Margin"

German automobile company Porsche announced on the 14th that its operating profit last year increased by 27% compared to the previous year, reaching 6.77 billion euros (approximately 9.5 trillion KRW).

Last year's sales amounted to 37.63 billion euros (about 52.8 trillion KRW), up 14% during the same period, and sales volume increased by 3% to 309,884 units. The operating profit margin rose by 2 percentage points from the previous year to 18%. Both sales volume and financial performance reached record highs.

Oliver Blume, Chairman of the Supervisory Board of Porsche AG (left in the photo). Lutz Meschke, Vice Chairman of the Supervisory Board of Porsche AG

Oliver Blume, Chairman of the Board of Porsche AG, said, "Despite difficult circumstances last year, we achieved the strongest growth ever," adding, "This performance was supported by a perfect team effort to provide attractive products to Porsche fans and customers." Lutz Meschke, Vice Chairman responsible for Finance and IT, stated, "Successful results last year were made possible by improved price positioning, a strong product mix, increased vehicle sales, exchange rate effects, and strict cost control."

The company launched the ‘Road to 20’ program this year, aiming to achieve an operating profit margin of over 20% in the long term. Meschke said, "We are looking at everything from product range and pricing to cost structure with a fresh perspective," adding, "We will enhance the quality of contribution margin and make the product portfolio more attractive."

Last Year's Porsche Performance

Porsche plans to expand its limited edition models and the individual order program called the Sonderwunsch program. The company will also increase its electric vehicle lineup. The compact SUV Macan electric vehicle is scheduled for release next year, and the sports car 718 model will be launched as a pure electric vehicle in 2025. The mid-large SUV Cayenne will also be introduced as a pure electric vehicle with its next model. Additionally, Porsche revealed that it is developing a large SUV bigger than the Cayenne as a pure electric vehicle. Connected expert Sajjad Khan will lead the newly established Vehicle IT department.