Sales in Q1-Q3 2023 increased by 12.61 TP1T to 30.13 billion euros
Porsche's performance appears to have been very strong as it finished the third quarter of 2023, about one year after Porsche's IPO on September 29, 2022.
the other daySales volume in the third quarter of 2023There were announcements regarding sales, etc., but this time, there was an announcement regarding sales, etc. for Q1 to Q3.
Sales were 30.13 billion euros (approximately 4,774.8 billion yen), an increase of 12.61 TP1T compared to the same period last year. For comparison, the same period last year amounted to 26.74 billion euros.
Operating profit increased by 9% to 5.5 billion euros.
The operating profit margin was 18.31 TP1T, which is a fairly good number even within the target range (18.91 TP1T in the previous year).
Net cash flow from the Automotive division was 3.39 billion euros (3.27 billion euros in the same period last year). Net cash flow margin was 12.2% (13.4% in the same period last year).
As announced the other day, the number of vehicles delivered between Q1 and Q3 of 2023 was 242,722, an increase of 9.61 TP1T compared to the same period last year.
Porsche says that Porsche vehicles across all model lines are in high demand around the world. And it is said that Porsche's exclusivity and individualization are steadily increasing.
Porsche's business model also has a unique position in the automotive industry, as unlike niche luxury manufacturers, it benefits from the effects of scale expansion within Porsche and from the cost advantages of cooperation with the Volkswagen Group. It is said that it is.
Over the past year, Porsche has accelerated its investments in future technology, motorsport and activities to strengthen the Porsche brand, such as the 75th anniversary of Porsche sports cars.
At least four models to be announced in 2024
Furthermore, it is said that at least four new models are scheduled to be introduced to the market in 2024, and the costs associated with preparing them for sale will also be incurred.
Will there be at least 4 new models?
Despite these various expenses and inflation, Porsche says that the group's operating interest rate and high profit margin remain at a high level.
The number of Taycan deliveries is also increasing, and the Taycan will continue to be a success story.
Porsche's outlook for the current fiscal year (assuming the global economy and supply situation do not deteriorate significantly) is that Porsche predicts that the group's full-year operating profit margin will be between 17 and 191 TP1T.
This forecast is based on the assumption that sales revenue will be in the range of 40 to 42 billion euros.In the long term, as previously stated, Porsche expects the group's operating profit margin to exceed 20%. is aimed at.
Porsche Financial Services (PFS), Porsche's financial services division, continued to grow steadily from Q1 to Q3, with revenue increasing to 2.52 billion euros (previous year: 2.47 billion euros).
However, operating profit decreased to 230 million euros (previous year: 301 million euros). It has been announced that this decrease is primarily related to higher interest rates and refinancing.
No, wait.
Speaking of Porsche Financial Services, everyone who registered their information at the Rennsport Reuninon 7 held in the United States the other dayEach was treated to a beer and a pretzel.. I was one of the people who enjoyed it ^^
Assuming that 91,000 people attended the event, and 40,000 of them were treated to a feast, each beer cost $10 and each pretzel cost $5, so 40,000 x $15 = $600,000 (approximately 90 million yen) ).
I'm sure the real decline in operating income is due to the over-indulgence of beer (absolutely not (lol)).
The following is the disclaimer posted at the time of the announcement ↓
Disclaimer
This press release contains forward-looking statements and information that reflect Dr. Ing. hc F. Porsche AG's current views about future events. These statements are subject to risks and uncertainties. They are based on assumptions about the development of economic, political and legal conditions in individual countries, economic regions and markets, particularly for the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of publication. If any of these or other risks materialize , or if the assumptions underlying these statements prove incorrect, the actual results could be significantly different from those expressed or implied by such statements. Forward-looking statements in this press release are based solely on the circumstances at the date of publication.
We do not update forward-looking statements retrospectively. Such statements are valid on the date of their publication and may become obsolete.
This information does not constitute an offer to exchange or sell or an offer to exchange or purchase any securities.
Source:(Official)Porsche AG posts robust growth in first nine months
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).
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