Porsche: sluggish sales, revises annual forecasts
(CercleFinance.com) - Porsche reports sales of E19.
46bn for H1 2024, down 4.8% y-o-y.
The automaker posted operating profit of E3.06bn, down 20.5%, with an operating return on sales of 15.7% (vs. 18.9% a year earlier).
In H1, Porsche delivered 155,945 vehicles, 6.8% fewer than at the same time last year.
Against this backdrop, Porsche has adjusted its forecasts for 2024 - it is now targeting a return on sales of between 14% and 15% (previous forecast: between 15% and 17%), sales of between E39bn and E40bn (previous forecast: E40bn to E42bn) and an automotive EBITDA margin of between 23% and 24% (previous forecast: between 24% and 26%).
Finally, Porsche expects BEV sales to account for 12% to 13% of total sales (previous forecast: between 13% and 15%).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
46bn for H1 2024, down 4.8% y-o-y.
The automaker posted operating profit of E3.06bn, down 20.5%, with an operating return on sales of 15.7% (vs. 18.9% a year earlier).
In H1, Porsche delivered 155,945 vehicles, 6.8% fewer than at the same time last year.
Against this backdrop, Porsche has adjusted its forecasts for 2024 - it is now targeting a return on sales of between 14% and 15% (previous forecast: between 15% and 17%), sales of between E39bn and E40bn (previous forecast: E40bn to E42bn) and an automotive EBITDA margin of between 23% and 24% (previous forecast: between 24% and 26%).
Finally, Porsche expects BEV sales to account for 12% to 13% of total sales (previous forecast: between 13% and 15%).
Copyright (c) 2024 CercleFinance.com. All rights reserved.