Sales and operating profit for Porsche AG increased by more than 25% in the first quarter of 2023

A very strong start to 2023

Porsche AG's sales in the first quarter of 2023 increased by 25.5% year-on-year to 10.1 billion euros (8.04 billion euros in the previous year).

The Group's operating profit increased by another 25.4% to 1.84 billion euros from 1.47 billion euros in the same period last year.

The profit margin on group sales was 18.2%, almost on par with the same period last year.

Since the first quarter, automotive net cash flow has risen to 1.43 billion euros (2017: 778 million euros), the automotive segment's net cash flow margin increased to 15.31 TP1T (2017: 10.61 TP1T) .

While various markets around the world are still unstable, Porsche is very satisfied with the fact that they were able to produce these figures, and Porsche will continue to promote its modern luxury strategy. That's what I'm talking about.

Group-wide target for 2023 is between €40 billion and €42 billion in Group sales, with an operating profit margin of between 17 and 191 TP1T, barring another significant deterioration in global challenges. has been

Of course, Porsche AG's long-term goal is to exceed 20% in profit margin on sales, as it has been said for a long time.

Porsche Financial Services (PFS) posted steady growth in the first quarter of 2023, with sales of €803 million, up from €776 million in the previous year.

However, the share of new vehicles leased/financed decreased from 45.7% to 41.5%. PFS' operating income also fell from €102 million to €86 million.

Summary of Porsche AG sales in the first quarter of 2023

Further price increases in Europe and North America

... and so far, it was a good story just to say "Porsche seems to be doing well and above all", but one more thing has been reportedWhat Porsche was said to raise the price the other dayIn addition to this, the price will be raised from 4 to 81 TP1T in Europe and North America.

It seems that the reason for this price increase is that Porsche is still having problems acquiring semiconductors etc. for full electric vehicles,Reported contentIt is said that "Porsche is trying to move to a higher-end market to compete with Ferrari and others."

For the time being, the additional price increase is for Europe and North America, so the relief is that Japan is not (should be) covered? I feel like I'm going to have a good time, but this is the only ′′ sales were really good ~! ! After announcing in a good mood, I'm worried that many people will think, "Well, what is that?"

I'm persistent, but I'm glad that Japan is out of the scope for the time being ^^ (just at the moment!)

Below is the published disclaimer from Porsche regarding the Q1 2023 figures:

Important information

This announcement contains “forward-looking statements” that reflect the company's current view of the future events. Words such as “will”, “presume”, “as a goal”, “could”, “possibly”, “should”, “ believe”, “intend”, “plan”, “in preparation”, and “aim” are used to indicate to statements relating to the future. These statements are subject to a variety of risks, uncertainties and assumptions. or uncertainties materialize or if the assumptions underlying Porsche's forward-looking statements should prove unfounded, the actual results could differ significantly from the ones that Porsche has expressly or implicitly assumed in these statements. Porsche does not intend or assume any responsibility to update these forward- looking statements as they are solely based on the circumstances pertaining on the day of publication.

The forward-looking financial information presented here is based on a number of assumptions, including no serious deterioration in economic conditions or the COVID-19 pandemic situation in Porsche's primary markets; no serious disruptions in the supply chain, particularly with regard to semiconductors, energy and materials and components; no significant price increases for raw materials; and no further escalation of the war in Ukraine. year 2022.

The information contained herein constitutes neither a sale offer nor a solicitation of an offer to buy, nor may the shares referred to herein be sold in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of that jurisdiction. This press release does not constitute an offer to sell securities in the United States. the 'Securities Act'). The securities may not be offered or sold in the United States unless there is an exemption from the registration requirement under the Securities Act.

Source:
◆(Official) Porsche posts strong start in anniversary year
◆Porsche will raise prices to combat higher costs

Related article:
◆Worldwide Q1 Porsche sales in 2023
◆2023 Q1 Porsche sales in the US
◆Porsche AG's sales and operating income increased in the first quarter of 2022 (Hmm?)

◆Porsche to raise prices (and quite significantly ...)

Rika (911supercars.com)

I'm Rika, the author of this article. Ever since Porsche 911 became my favorite car, I've become totally addicted to Porsche, and I can't stop loving Porsche, so I started this blog. My favorite cars are 911 Carrera (991.2), 911 Carrera Cabriolet (992.1), and 911 Carrera T (992.1).