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Dr. Ing. h.c. F. Porsche AG: First Annual General Meeting after the IPO - Porsche AG presents strong results - Seite 2

In his speech to the shareholder meeting at the Porsche Arena in Stuttgart, Chairman of the Supervisory Board Dr. Wolfgang Porsche thanked Porsche employees: “With your extraordinary personal dedication and sense of responsibility, you have all played a crucial role in making the past year a very successful one for Porsche AG yet again, as well as in ensuring the extraordinary success of our company’s IPO in September 2022, in spite of a multitude of changes and challenges.”

Oliver Blume emphasized that the company would continue its current strategy unchanged: “As one of the most valuable luxury brands in the world, we are pressing ahead with our strategy of modern, sporty luxury. And we are setting ourselves ambitious goals – always driven by the most fundamental of all questions: How can we inspire our customers and fans again and again?”

In the last fiscal year, Porsche AG achieved four record figures – Group deliveries, Group sales revenue, Group operating profit and automotive net cash flow. Group sales revenue in 2022 amounted to € 37.6 billion, corresponding to growth of 13.6 percent. The Group operating profit was € 6.8 billion, exceeding the previous year’s figure by 27.4 percent. Deliveries to customers rose by 2.6 percent to 309,884 vehicles. Automotive net cash flow rose by 5.2 percent to € 3.9 billion. The Group operating return on sales was 18.0 percent, a two-percentage-point increase year on year.

 

Forecast confirmed

Despite the very challenging circumstances, Porsche AG has confirmed its forecast for the current year. “We expect Group sales revenue in a corridor of roughly € 40 to 42 billion,” said Oliver Blume. “For the Group return on sales, we continue to expect a figure of 17 to 19 percent – provided the global and supply situation does not worsen significantly. “In the long run, we are aiming for a Group return on sales of more than 20 percent. And we’re sticking with that.”

Shareholders should enjoy sustained benefits from the company’s success. The Executive Board and Supervisory Board have therefore proposed a sum of € 915.5 million as a dividend to be distributed for fiscal year 2022. This amount includes an additional dividend of roughly € 4.5 million for the preferred shares. In the medium term, Porsche aims to distribute roughly half of its after-tax consolidated profit as a dividend.