According to Bloomberg, Volkswagen is said to have chosen Goldman Sachs, Bank of America, JPMorgan Chase and Citibank as co-global coordinators for ipOs under its Porsche brand. Porsche is the second luxury car brand seeking an IPO after Ferrari, Aston Martin and Volvo. According to people familiar with the matter, Porsche's IPO valuation is expected to reach 90 billion euros (about 633.1 billion yuan), close to BYD's market value (686.9 billion yuan), becoming one of the largest IPOs in Europe this year.
Some analysts believe that given the valuation levels of other luxury car and electric vehicle manufacturers, as well as Porsche's own technology and growth potential, the potential valuation could exceed 100 billion euros.
Image source: Daily Economic News Infographic
On February 23 this year, the Volkswagen Group issued a statement saying that the board of directors of Volkswagen and Porsche Holdings has reached a framework agreement that ensures that The Jet will be listed independently. However, some decisions need to be supplemented later, and eventually after the signing of the boards of directors of Volkswagen and Porsche Holdings.
Later, at the Mass Group media briefing held on March 15, Arno Antlitz, Chief Financial Officer of volkswagen group, revealed that according to the overall plan, Porsche's listing is expected to be completed in the fourth quarter of this year.
Regarding Porsche's IPO plans, Oliver Blume, Chairman of porsche's Global Executive Board, has previously stated: "Given our very successful development, the Volkswagen Group has decided to study the possibility of Listing Porsche AG on the stock exchange. We welcome this decision by the Volkswagen Group. ”
Founded in 1931, Porsche is a luxury car brand owned by Volkswagen in Germany, with a number of models such as the 911, Panamera, Cayenne (Cayenne), Macan and so on. On March 18, Porsche announced its 2021 performance at its 2022 press conference, with both operating income and sales profit reaching record highs. According to Porsche, the company's operating income in the 2021 fiscal year was 33.1 billion euros, an increase of 15% over the 2020 fiscal year. Profit from sales increased by 1.1 billion euros from the previous fiscal year to 5.3 billion euros, an increase of 27 percent.
It should be known that in the context of chip supply shortage and rising raw material prices, Porsche's operating income and sales profit have hit a record high, which is not an easy task.
According to Porsche China's official website, Porsche has a total of six models on sale, including the 718, 911, Taycan, Panamera, Macan, Cayene and so on.
Image source: Porsche official website
In terms of deliveries, porsche delivered 301915 new cars to customers worldwide in 2021, and the number of new car deliveries exceeded the mark of 300,000 units for the first time, setting a record high. Among them, the Medium SUV Macan is the best-selling model of the Porsche brand, with an official price of 554,000 yuan, while the Price of the Macan GTS is from 848,000 yuan. Even so, global sales of the model reached 88,362 units, up 13% year-on-year.
At present, the Chinese market has become the largest single market for Porsche. According to the data, in 2021, Porsche's delivery volume in the Chinese market will reach nearly 96,000 units; while in the United States, the delivery volume of porsche vehicles will reach nearly 29,000 units; in the European market, such as Germany, Porsche's new car delivery volume will reach nearly 29,000 units.
Since 2001, Porsche has been deeply involved in China for 21 years, from the Porsche 911, which became famous in World War I, to the later performance SUV Cayenne, which has witnessed the love of domestic consumers for Porsche.
At present, Porsche is ambitious for the transformation of electrification, and the data shows that about one in every four new cars delivered by Porsche worldwide in 2021 will be pure electric or hybrid models. The brand has also set its new goal for electrification in 2030: the pure electric Macan will be officially launched in 2025, and the 718 series is planned to be fully electrified. By 2025, half of Porsche's global deliveries are expected to be electrified, both electric and hybrid; by 2030, pure electric models are expected to account for more than 80% of new car deliveries.
When luxury brands such as Mercedes-Benz BMW were frustrated on the electrified track, Porsche seemed to be riding the dust. After seeing the charm of the Chinese market, Obomu, Chairman of porsche's Global Executive Board, lamented that many of the emerging technologies are initially from China and are gradually being applied to other markets around the world. "Therefore, China will become a very important base for our innovation experiments."
Reporter | Zhang Lingxiao editor| Gao Hansun Zhicheng Du Bo Du Hengfeng
Proofread | duan lian
| the original article of the daily economic news nbdnews |
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