The automaker attained a new landmark in September 2022 with its largest IPO in Europe regarding market valuation.
Luxury automobile manufacturer Porsche achieved record figures in 2022 as sales revenue grew from 33.1 billion euros in 2021 to 37.6 billion euros. In addition to its 13.6% gain, the company had an impressive operating profit in the 12 months. Porsche said in a press release that the Group’s operating profit increased 27.4% YoY from 1.5 billion euros to 6.8 billion euros. Despite the economic downturns that impacted the economy in 2022, Porsche said Group Deliveries and automotive net cash flow attained new ATHs. Amazingly, Porsche emerged victorious in a stormy 2022, starting with the Russia-Ukraine way to global supply chain disruptions. The automobile maker delivered 309,884 vehicles, representing a 2.6% jump from 301,915 vehicles reported in 2021. Its operating return on sales surged from 16% to 18%.
Porsche Attains Record Figures in 2022
Satisfactorily speaking on the remarkable performance in 2022, the Executive Board chairman, Olive Blume, stated that Porsche achieved its “strongest result” in history. He also commended the team’s performance as it offered new exciting products to customers in the past year. The deputy chairman and member of the executive board for finance and IT, Lutz Meschke, referred to “improved price positioning, the strong product mix, the increase in vehicle sales, exchange rate effects” and strict cost discipline as the success factors that helped the company. Following a strong 2022, Porsche is focused on its ambitious Road to 20 program.
“With the Road to 20 we are making Porsche even more resilient and our brand stronger than ever. And we’re going to take a fresh look at everything, from our product range and pricing to our cost structure. We want to increase the quality of our contribution margins and make our products even more attractive.
The automaker attained a new landmark in September 2022 with its largest IPO in Europe regarding market valuation. The deputy chairman stated that Porsche would pick up more speed moving forward. Additionally, it continues to push its strategy of modern luxury. Brand Finance’s Luxury and Premium Report revealed that Porsche is the world’s most valuable luxury brand. Brume announced the addition of new sports car concepts to the company’s product portfolio. Furthermore, Porsche plans to expand its Sonderwunsch program in the future while it pushes further with its electrification strategy. While the full-electric Macan will be available next year, the all-electric 718 will be available in 2025.
Porsche said Sajjad Khan would be joining the IT team this year at the new Car-IT Executive department. Blume stated:
“We are delighted that in Sajjad Khan we have been successful in winning over an experienced and incredibly connected expert for Porsche. Together we will implement our strategy for the Car-IT department effectively and with the focus on our customers.”
Read other business news on Coinspeaker.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.