A year after its successful IPO, Porsche AG continues to shift into high gear, reporting strong financial figures for Q3 2023. The world-renowned sports car manufacturer has seen its Group sales climb by 12.6% to $3.187 billion, while Group operating profit rose 9.0% to $5.82 billion. This performance places Porsche’s operating return on sales at 18.3%, firmly in the upper half of its self-imposed target corridor. Meanwhile, net cash flow for the automotive segment registered at $3.59 billion, further highlighting Porsche’s financial health.
According to Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT, the growing figures come despite significant investments in the brand and technology. Oliver Blume, Chairman of the Executive Board, attributes the company’s financial health to its strong global positioning and high worldwide demand across all model lines. The all-electric Taycan sports car continues to be a standout, with deliveries increasing by 11% to 27,885 units in the first nine months of 2023. The Taycan’s success story is far from over, and it underscores Porsche’s resilience in navigating supply chain challenges and varying e-mobility developments across sales regions.
Looking forward, Porsche aims to maintain its high operating return on sales despite ongoing investments in future technologies and an ambitious plan to launch four new models in 2024. The automaker has confirmed its full-year financial forecast, which anticipates a Group operating return on sales between 17% and 19%, based on estimated sales revenue ranging from $42.3 to $44.4B. Porsche Financial Services (PFS) also showed steady growth, with a slight decline in operating profit due to increased interest rates and refinancing activities. Overall, Porsche’s Q3 2023 performance exemplifies the brand’s strength and adaptability in a complex market landscape. View all Porsche models currently for sale on duPont REGISTRY by clicking the link below.
Source: Porsche
