An electrifying year for Porsche

2w ago

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New figures reveal that Porsche increased deliveries, sales revenue and the operating result to new record levels in 2019. We handed over some 280,800 cars to customers last year, an increase of 10 per cent over the previous 12 months.

Sales revenue rose by 11 per cent to €28.5 billion, while the operating result increased by three per cent year-on-year to €4.4 billion. The return on sales was 15.4 per cent, and in the same period, the workforce grew by 10 per cent to 35,429 employees.

“As a pioneer for sustainable mobility Porsche has implemented important measures in recent years,” says Oliver Blume, Chairman of the Executive Board of Porsche AG. “2019 saw the introduction of many emotive new products. Among other things, we launched the Taycan, our first all-electric sports car. Thanks to our attractive product range, consisting of efficient petrol-driven cars, high-performance plug-in hybrids and now also purely electric sports cars, our deliveries once again increased in the 2019 financial year.”

However, the success of the past year is far more than just a snapshot according to Blume: “Our primary goal is value-creating growth. We have increased our result by more than 60 per cent over the past five years. This allows us to create the prerequisites to fully meet our entrepreneurial responsibilities in economic, ecological and social areas.”

The Cayenne and Macan in particular were once again responsible for significant increases in production: 92,055 Cayennes was a 29 per cent rise over 2018. Meanwhile, a total of 99,944 Macans went out to customers – a 16 per cent increase. In the domestic and European markets, Porsche generated 15 per cent growth, with 31,618 cars shipped in Germany among 88,975 throughout Europe. Porsche also recorded an increase in its two largest markets. China received 86,752 cars, up eight per cent from 2018, while the USA, took another 61,568 despite a general market downturn.

“In 2019 we achieved new record values in terms of sales revenue and profits before special items,” says Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG. “The increase in profits is due particularly to the strong increase in volumes as well as the positive development of our other business fields and divisions. At the same time, higher fixed costs, caused by our growth, significant investments in electrification and digitalisation, and currency effects had a negative impact on the result. We nevertheless again exceeded our strategic targets with a return on sales of 15.4 per cent before special items and a return on investment of 21.2 per cent.”

The new field of electromobility has proven to be a significant job creator at Porsche: around 2,000 new jobs were created for the Taycan and the company launched a comprehensive qualification campaign. By 2024, we will have invested around €10 billion in the hybridisation, electrification and digitalisation of our cars. The next model to be launched will be the first Taycan derivative, the Cross Turismo, while the next generation Macan will also be electrically powered, becoming Porsche’s second, fully battery-powered series. Porsche anticipates that by the middle of this decade, half of the entire product range will be sold as fully electric models or partially electric plug-in hybrids.

“Over the coming months we are facing an economically and politically challenging environment, not least in light of the uncertainty relating to the coronavirus,” says Meschke. “But with measures that will boost efficiency and by developing new, profitable business fields, we aim to continue to achieve our strategic goal of a return on sales of 15 per cent.”

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