"Strategically, operationally and financially, Porsche is in a fantastic position. Therefore, we are confident in the future. ”
On March 17, at the 2022 annual press conference, Mr. Oliver Blume, Chairman of the Porsche Global Executive Board, officially announced the latest financial data of Porsche and elaborated on the future planning for the next period.
In the 2021 fiscal year, Porsche delivered more than 300,000 new cars worldwide, while operating income climbed to 33.1 billion euros, an increase of 15% year-on-year, both of which hit record highs. At the same time, even in a difficult market environment such as chip supply shortages, the Stuttgart-based sports car manufacturer achieved a sales profit of 5.3 billion euros, resulting in a 16.0% return on sales in FY2021 and a global net cash flow increase of 1.5 billion euros to 3.7 billion euros in FY2021 (2.2 billion euros in the previous fiscal year), once again consolidating its position as "one of the most profitable car manufacturers in the world".
In this regard, Mr. Obermu said: "Our excellent performance is based on bold, innovative and forward-looking decisions. The automotive industry is undergoing perhaps the greatest transformation in history, and we have developed a strategic approach early on and are steadily moving forward in our operations. All achievements are due to teamwork. ”
Taycan deliveries reach new high Porsche will continue to increase electrification
At the same time that there is a growing global call for energy conservation and emission reduction, Porsche's goal is clear: to be carbon neutral by 2030. It is not difficult to see from the data of previous years that electrification has played a crucial role in achieving the goal.
According to the plan, Porsche will achieve the goal of accounting for half of Porsche's overall sales of electric models in 2025, and by 2030, the proportion of pure electric models in new cars is planned to reach more than 80%. In 2021, of all the new cars delivered by Porsche in Europe, the proportion of electric models has reached nearly 40%, including plug-in hybrid models and pure electric models. The first pure electric Porsche Taycan sold 41,296 units in the whole year, even more than the Porsche benchmark sports car 911, although the latter also set a new record with 38,464 units.
In China, Porsche will continue to accelerate the electrification process around the product and vehicle ecology, and continue to enrich the electric mobility life of Chinese customers. Among them, Taycan's two derivative models, the Taycan GTS and taycan Cross Turismo, will make their Asian debuts at the 2022 Beijing International Auto Show and start pre-sales. At that time, Porsche's lineup of new energy models in China will be expanded to 21 models. Subsequently, Obermou revealed that in the mid-20s, Porsche planned to "present all of the 718 in pure electric form". In addition, porsche pure electric Macan and hybrid version of The Porsche 911 will soon come to us.
At the same time, Lutz Meschke, Vice-Chairman and Member of the Porsche Global Executive Board and responsible for Finance and Information Technology, added: "The company's good development is also due to the ambitious 'Profit Plan 2025'... We are steadfastly advancing our investments in electrification, digitalization and sustainability. ”
Maxig added, "Our profitability plan has been very effective due to the high motivation of our employees. Porsche further improves profitability and reduces the break-even point. This gives us the ability to make strategic investments in the company's future in a tight economic situation. "We will face serious political and economic challenges in the coming months, but we will remain committed to our long-standing strategic goal of achieving a return on sales of at least 15% per annum over the long term."
To achieve these goals, Porsche is investing with partners in the construction of high-end charging stations as well as its own charging infrastructure. In addition, Porsche has invested heavily in core technologies such as battery systems and battery module production. Today, the newly formed Cellforce company is focusing on the development and production of high-performance batteries, which are expected to be mass-produced in 2024.
The Porsche IPO is on the agenda
It is no secret that porsche IPO was also recognized at this press conference. Obermou said: "We are full of confidence in the future and welcome the Volkswagen Group's study of the possibility of an initial public offering (IPO) of Porsche AG. ”
Obermu said: "This initiative can increase brand awareness and increase the freedom of business. At the same time, Volkswagen and Porsche can still benefit from future collaboration. Wall Street predicts that once Porsche goes public, it will be valued at up to 60 billion to 85 billion euros. Referring to the current market capitalization of the entire Volkswagen Group of 112 billion euros, this will be close to recreating a Volkswagen company, which could become the largest IPO in Europe.
According to Arno Antlitz, Volkswagen's finance officer, the IPO will also bring more flexibility to Volkswagen and help further accelerate corporate transformation. The Volkswagen Group will update the market on Porsche's listing plans and progress at the end of this summer. Porsche is likely to conduct an IPO as soon as the fourth quarter of 2022.
Guarantee profitability in a complex market environment
In the current tense world situation, no one can be left alone. At the press conference, Obomu also cautiously expressed his concerns and concerns about the armed conflict in the Ukrainian region: "We hope that the two sides will cease hostilities and resolve the dispute diplomatically." The safety of people's lives and the dignity of humanity are essential. "With the conflict between Russia and Ukraine and the shortage of chips, Porsche is also moving forward in challenges. A task force of experts is currently conducting an ongoing assessment of the impact on Porsche's business activities. Porsche Worldwide has also donated 1 million euros to help people affected by the conflict in Ukraine.
Today, the supply chain in Porsche factories has been affected to some extent, which means that in some cases production cannot be carried out as scheduled. At the same time, Obermu does not deny that Porsche is trying to expand the source of supply, "We hope to expand global procurement in the future, which is a strategic direction for the future." Obomu said.
"We will face serious political and economic challenges in the coming months, but we will remain committed to our long-standing strategic goal of achieving a return on sales of at least 15% per annum over the long term," CFO Maxger stressed. "The task force has taken initial steps to safeguard revenue and wants to ensure that the company continues to meet high-yield requirements. Of course, the ultimate extent to which this goal is achieved depends on many external challenges that are not controlled by human beings. ”