Porsche breaks revenue and profitability records in the world – 03/14/2023 – Market

Porsche breaks revenue and profitability records in the world – 03/14/2023 – Market

Porsche lives the best moment of its 75 years of history. The financial results released this Monday (13) show significant growth in an unstable economic scenario, as highlighted by Lutz Meschke, CFO (executive director of finance) of the German automaker.

Revenue reached 37.6 billion euros (R$ 211.3 billion) in 2022, an increase of 13.6% compared to 2021. Operating profit of 6.8 billion euros (R$ 38.2 billion) billion) last year represents an increase of 27.4%. Both results are records for the manufacturer.

The company is the envy of the other members of the Volkswagen Group, which includes, in addition to VW itself, brands such as Audi, Skoda, Lamborghini and Bentley.

Porsche’s profit margin reached an average of 18% per product in 2022, a distant dream for generalist brands, which compete in entry segments.

Sales of the 911 sports car, the automaker’s most iconic car, grew 5% in 2022 – there were 40,410 units sold worldwide. The Cayenne SUV, the brand’s biggest commercial success today, ended the year with 95,604 licenses, an increase of 15% compared to 2021.

Over the past year, 309,800 vehicles were delivered by Porsche – an increase of 2.6% compared to 2021.

During the conference in which he revealed the results, Meschke highlighted that exchange rate variations influenced the result, in addition to what he defined as “a rigorous cost discipline”.

Indeed, Porsche seems to have found a balance between increases in production costs and pass-through to product prices. The interest of its consumers has remained high, despite the fact that cars have become significantly more expensive around the world.

In Brazil, the most affordable version of the Cayenne E-Hybrid costs R$ 629 thousand. When opening the brand’s website to configure a car, an alert message is displayed about the longer delay in the delivery of new models. The reason still lies in the semiconductor supply crisis.

The brand’s “cheapest” car in Brazil is the 718 Cayman sports coupe, which starts at R$499,000. However, with logistical problems and long global queues, orders for the domestic market are temporarily suspended.

Current issues do not prevent the manufacturer from dreaming big. Porsche forecasts a new revenue record in 2023, in addition to forecasting an operating margin of 20% in the coming years.

The company also intends to be carbon neutral by 2030, a process that includes the launch of new 100% electric models. Next will be the new generation of the Macan SUV, which will debut in 2024.

The journalist traveled at the invitation of the Volkswagen Group

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