Porsche AG says it ended the 2024 financial year with a robust result in a challenging environment.
The tense market situation in China, the delayed global ramp-up of electromobility and disruptions in the supplier network had an impact on earnings and return on sales.
Group sales revenue was 40.1 billion euros, a single percentage point below the previous year’s figure (40.5 billion euros).
Porsche almost entirely compensated for the decline in sales figures. This was achieved by a higher proportion of customisations and improved price positioning of the newly launched products. Group operating profit decreased to 5.6 billion euros (previous year: 7.3 billion euros). The group operating return on sales amounted to 14% (previous year: 18%).
Automotive net cash flow amounted to 3.7 billion euros, almost on par with 2023’s record year (4.0 billion euros). This figure includes cash outflows of 250 million euros in connection with pension plans. The automotive net cashflow margin was 10.2% (previous year: 10.6%), which was above the forecasts.
Porsche was also robust in terms of deliveries in the 2024 financial year, with 310,718 cars going out to customers. Porsche recorded sales records in four out of five regions of the world – in Europe, Germany, North America and the Overseas and Emerging markets.
The total number decreased slightly compared to the previous year (320,221 vehicles). This was mainly due to the continuing market challenges in China.
The bestseller was the Cayenne with 102,889 examples being delivered, ahead of the Macan (82,795) and the 911 (50,941). In the 2024 financial year, 27% of the new vehicles delivered were electrified – i.e. fully electric or plug-in hybrid. About half of them were all-electric sports cars (12.7%). This share is predicted to significantly increase over the next few years as a result of the Porsche product portfolio. The expectation for 2025 is in a range between 33 and 35% electrified vehicles, including 20 to 22% fully electric.
Porsche is expanding its product portfolio in the coming years to include additional models with combustion engines and plug-in hybrid powertrains.
“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,” says CEO Dr Oliver Blume. “Because of the changed circumstances, we have adjusted our product strategy in all segments. And we further developed our proven and successful Porsche strategy over last year to make the company even more flexible, robust and high-performing.”
911: an icon with new derivatives
Porsche will offer further derivatives of the 911. 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.
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. At the same time, Porsche is continuously monitoring market developments and customer demand.
The sports car manufacturer 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 symbolise 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 the all-electric sports cars in the 718 segment.
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