Porsche: deliveries down 3% in 2024

(CercleFinance.com) - Porsche reports sales of E40.
08bn for FY 2024, down just 1.1% y-o-y.

Meanwhile, operating profit fell by 22.6% to E5.64bn, slightly ahead of expectations, with its operating margin contracting from 18% to 14.1%.

The automaker also saw deliveries fall by 3% in 2024, to 310,718 vehicles.

In FY 2024, earnings per ordinary share amounted to E3.94, while earnings per preferred share were E3.95.

The Board of Directors and Supervisory Board will propose a dividend of E2.1bn to Porsche AG's AGM.

Porsche says it intends to invest a further E800m in its restructuring in 2025, as well as in its product portfolio, software and battery businesses.

In its forecasts, the automaker anticipates market conditions to remain very difficult and competition in China to intensify. It targets a group operating margin of between 10% and 12% in 2025, with sales of E39bn to E40bn.

In the long term, we remain committed to our fundamental ambition of a group operating margin in excess of 20%. In the medium term, we are aiming for a range of 15 to 17%, in an environment that remains challenging, the group said.


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