The automaker reached a new milestone in September 2022 with its largest IPO in Europe in terms of market valuation.
Luxury automaker Porsche achieved record numbers in 2022 as sales revenue increased from €33.1 billion in 2021 to €37.6 billion. On top of its 13.6% gain, the company posted an impressive 12-month operating profit. Porsche said in a Press release that the operating profit of the Group increased by 27.4% year-on-year, from 1,500 million euros to 6,800 million euros. Despite economic downturns that hit the economy in 2022, Porsche said group deliveries and auto net cash flow hit new ATHs. Remarkably, Porsche emerged victorious in a stormy 2022, starting with the Russia-Ukraine road to global supply chain disruptions. The automaker delivered 309,884 vehicles, which is a 2.6% increase from the 301,915 vehicles reported in 2021. Its operating return on sales increased from 16% to 18%.
Porsche reaches record numbers in 2022
Speaking satisfactorily about the remarkable performance in 2022, Executive Board Chairman Olive Blume claimed that Porsche achieved its “strongest result” ever. She also praised the team’s performance in bringing exciting new products to customers last year. Vice President and Executive Board Member for Finance and IT Lutz Meschke referred to “improved price positioning, strong product mix, increased vehicle sales, currency effects” and strict discipline of costs as the success factors that helped the company. Following a strong 2022, Porsche is focusing on its ambitious Road to 20 programme.
“With Road to 20 we are making Porsche even more resilient and making 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 reached a new milestone in September 2022 with its largest IPO in Europe in terms of market valuation. The vice president said that Porsche would gain more speed in the future. In addition, it continues to promote its modern luxury strategy. Brand Finance’s Luxury and Premium Report revealed that Porsche is the most valuable luxury brand in the world. Brume announced the addition of new sports car concepts to the company’s product portfolio. Additionally, Porsche plans to expand its Sonderwunsch program in the future as it moves forward with its electrification strategy. While the all-electric Macan will be available next year, the all-electric 718 will be available in 2025.
Porsche said that Sajjad Khan would join the IT team this year in the new executive department of Car-IT. Blume stated:
“We are delighted that we at Sajjad Khan have succeeded in winning over an incredibly connected and experienced expert to Porsche. Together we will implement our strategy for the Car-IT department in an effective and customer-focused manner.”
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Ibukun is a crypto/finance writer interested in conveying relevant information, using non-complex words to reach all kinds of audiences. In addition to writing, he enjoys watching movies, cooking, and exploring restaurants in the city of Lagos, where he resides.
