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Porsche Summary for 2021: Annual Report 2022

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2021 Porsche Annual Report

Porsche's annual conference was held online on March 18, 2022 (Friday).

It's been four years since I fell in love with Porsche and started seeing Porsche's annual report ^^

Related article:
Porsche 2018 Summary: Annual Report 2019
Porsche Summary for 2019: Annual Report 2020
Porsche Summary for 2020: Annual Report 2021

Let's take a look at the summary of Porsche in 2021.

Once again record highs in both sales and operating income

  • Porsche, which had a record high in sales in the previous fiscal year 2020, also achieved a record high in both sales and operating income in the previous fiscal year 2021.
  • In 2021, sales increased by 15% from the previous year and increased by 4.4 billion euros from the previous year (28.7 billion euros) to 33.1 billion euros.
  • Operating profit increased by 27% from the previous year to 5.3 billion euros, an increase of 1.1 billion euros from the previous year, and the operating profit margin was 16% (14.6% in the previous year).
  • Net cash flow in 2021 is € 3.7 billion, an increase of € 1.5 billion from € 2.2 billion in the previous year
  • These good numbers are based on the 2025 Profitability Program, which is intended to continuously support revenue through new innovations and business models.
  • The total number of vehicles sold in 2021 worldwide was 301,915 (the first to exceed 300,000), and the previous year was 272,162.
  • The sales volume of Taycan more than doubled from the previous year, and 41,296 units exceeded the sales volume of 911.
  • 911 also sells 38,464 units, setting a new record for sales
  • The 718 series will be available only in fully electric models by 2025
  • By 2025, half of all new Porsche will be electric vehicles (full or plug-in hybrid)
  • About 40% of new Porsche delivered in Europe in 2021 is a plug-in hybrid or full electric vehicle
  • Porsche shifts to carbon neutral in 2030
  • The share of fully electric models is scheduled to exceed 80% in 2030
  • To achieve this, we are investing in premium charging stations with our partners, investing in our own charging infrastructure, and even more in core technologies such as battery systems and module manufacturing.
  • The newly established Cellforce Group is developing and manufacturing high-performance battery cells that are scheduled to be ready for mass production by 2024.
  • Increased sales in all sales regions in 2021
  • The largest single market is still China, with sales of about 96,000 units (up 8% from the previous year).
  • Rapid growth in North America and sales of approximately 70,000 units, an increase of 22%
  • It is also doing well in Europe, and new car sales in Germany increased by 9% to about 29,000 units.

Oliver Blume CEO says:

  • This achievement is based on Porsche's courageous, innovative and positive decisions
  • Management stability by setting a strategic course at an early stage
  • This success is largely due to teamwork
  • Porsche sees armed conflict in Ukraine with great concern and disappointment
  • We continue to want to stop hostilities and return to diplomacy, and we consider people's security and dignity to be our top priorities.

Lutz Meshke Vice Chairman of the Board of Finance and IT Long Waku:

  • In addition to an attractive product lineup, we believe that Porsche's sound cost structure has a good performance base.
  • Porsche's value creative growth even in difficult situations such as semiconductor shortage, and the robustness of the business model for success have been demonstrated
  • The profitability program was completely successful thanks to motivated employees
  • Porsche has further increased efficiency and lowered the earnings break point, which allows it to afford to invest in Porsche's future survival in difficult economic conditions.
  • Continue to promote investment in electrification, digitization and sustainability
  • Continue the long-standing strategic goal of securing operating income of 15% or higher in the long term
  • Porsche AG's IPO consideration is also welcomed. This will increase Porsche's name and entrepreneurial freedom, and VW and Porsche will continue to benefit from joint synergies in the future.

It is said that depending on the situation in the world, delivery of cars currently in order may be delayed, but even under difficult circumstances for Porsche, its growth has been achieved without stopping. It's the direction to go.

One point to be worried about is the statement that "the break-even point was lowered to improve efficiency", and since the number of employees has been announced so far, this year it is not, so in fact it is a decent reduction in personnel Was there? I sometimes think about it without permission, but ... well, I don't know about this area.

In the future, various situations in the world and the future of Porsche due to regulations may change day by day, but no matter what the situation, Porsche will be the "best Porsche as Porsche". I am sure that it will come out, so I would be happy enough if Porsche could entertain the Porsche who will be announced under the circumstances at that time, and I would like to enjoy it a lot.

Love is blind ^^

Related article:
Porsche 2018 Summary: Annual Report 2019
Porsche Summary for 2019: Annual Report 2020
Porsche Summary for 2020: Annual Report 2021

Related article 2:
2021 New car sales in Porsche (overall & in Japan)
Porsche sales in North America in Q4 2021 and overall in 2021
Porsche 2021 January-September operating profit was 3.6 billion euros (about 474.9 billion yen), and the profit margin on sales reached 15.5%
2021 Q3 Porsche sales worldwide
2021 Q3 Porsche sales in North America
Porsche's performance in the first half of 2021 is strong, and the third quarter is expected to be tight
Worldwide Porsche sales in the first half of 2021 (Q1 & Q2)
2021 Q2 Porsche sales in North America
2021 Q1 Porsche sales worldwide
2021 Q1 Porsche sales in North America

(Official) Porsche's ambition for 2030: More than 80 percent all-electric new vehicles
(Official) Porsche's willingness to 2030: New fully electric car exceeding 80%

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