Porsche reports 30 percent of the profit – like Volkswagen

The winning of the Porsche sports and off-road car manufacturer in 2024. The group result decreased by 30.3 percent to around 3.6 billion euros in the year, as the DAX company in Stuttgart announced. In 2023, Porsche had made around 5.2 billion euros in profit. The cause of the minus was, among other things, the poorly running China business and high costs for the renewal of model series.

Turbulent weeks are behind the company: In February, Porsche first announced that the board were rebuilt. The long -time CFO Lutz Meschke and Detlev sales board had to go from Platen. A little later it became known that the VW subsidiary adapts its strategy and, among other things, invests more money in combustion engines and plug-in hybrids. By 2029, around 1,900 jobs in the Zuffenhausen Stem Haus and the Weissach development center are also to be deleted.

Porsche had already submitted preliminary numbers and the forecast for the current year. In addition, the group mother Volkswagen also reported essential figures from the daughter the day before. Volkswagen also earned significantly less than a year earlier in 2023 with a minus of almost 31 percent.

In 2024, Porsche deliveries fell three percent to around 310,700 vehicles. In China, the minus was 28 percent. Sales fell by 1.1 percent to a good 40 billion euros, winning in daily business by almost 23 percent to 5.64 billion euros.

Porsche was therefore less profitable: the operational return – i.e. the share of profit in daily business in turnover – was 14.1 percent 3.9 percentage points below the previous year. The company has thus continued to remove its long -term goal of more than 20 percent. The new CFO Jochen Breckner announced: “Porsche has proven in 2024 that we are highly profitable even in challenging times and are financially robust”. In the medium term, the sports car manufacturer becomes more careful.

As already known, Porsche wants to take around 800 million euros this year to create the U -turn in the weakening business with new models and a savings program. Flower therefore assumes a sacking of the operational margin to 10 to 12 percent. The turnover should amount to 39 to 40 billion euros.