EQS-News: Porsche remains on course and confirms forecast for full year 2024
EQS-News: Dr. Ing. h.c. F. Porsche AG
/ Key word(s): Quarterly / Interim Statement
Porsche remains on course and confirms forecast for full year 2024
Stuttgart. Porsche AG continued on its planned course in the first nine months of 2024. As expected, in particular the challenging economic environment and the comprehensive renewal of the product portfolio had an impact on key figures at the end of the third quarter. The sports car manufacturer is nevertheless confirming its forecast for the full year of 2024 – provided that the framework conditions do not worsen significantly. Porsche posted a group sales revenue of 28.56 billion euros in the first nine months (previous year: 30.13 billion euros). The group operating profit came in at 4.04 billion euros (previous year: 5.50 billion euros). The group operating return on sales was 14.1 percent (previous year: 18.3 percent). Automotive net cash flow amounted to 1.24 billion euros (previous year: 3.39 billion euros). “Every race track has slower and faster sections. The same applies to a financial year. In the fourth quarter, we expect that we can accelerate and head into the final sprint to the line,” says Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT. “As expected, the third quarter has been the weakest of the 2024 financial year. However, the quarterly figures and our expectations for the rest of the year mean we are confident that we will achieve our ambitious targets for the year as a whole. Even in challenging times, Porsche is financially robust and highly profitable.” The earnings per ordinary share after the first nine months was 3.03 euros (previous year: 4.32 euros), the earnings per preferred share was 3.04 euros (previous year: 4.33 euros). The current financial year is fundamentally characterized by Porsche’s year of product launches. The sports car manufacturer has updated five of its six model lines in just a few months and will be offering the youngest product portfolio in years. This context has high market potential for the years ahead. One good example is the Cayenne. The current version launched at the end of 2023 and recorded an increase of 21 percent in the first nine months of 2024. This year, deliveries of the new all-electric Macan have begun, following on from the updated Panamera, Taycan and 911 models. The number of overall deliveries in the first nine months was 226,026 vehicles (previous year: 242,722). “In China, we are dealing with a structural shift in demand. In addition, the global transformation towards electric vehicles is proceeding more slowly than originally assumed. For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets and cost position. All with the aim of increasing our flexibility and resilience even further,” says Meschke. Porsche will consistently focus on aligning supply and demand in line with its ‘value over volume’ strategy. This is particularly in the Chinese market, where there continue to be challenges. Forecast remains stable despite challenging environment Porsche AG continues to be confronted with a very challenging macroeconomic environment and various geopolitical tensions and conflicts. Uncertainties and financial burdens arise in particular from the situation in the Chinese market, the numerous product launches, possible supply bottlenecks and further inflationary cost levels – particularly on the supplier side. Nevertheless, Porsche is simultaneously investing extensively in innovations, digitalization, sustainability, the development of future products and services, and in brand and customer satisfaction. In spite of the challenging overall situation, Porsche is reaffirming its forecast for the full year 2024 – provided that the framework conditions do not worsen significantly. This particularly applies to macroeconomic risks, such as the introduction of additional import restrictions and tariffs. The forecast is based on the following figures:
Disclaimer This press release contains forward-looking statements and information that reflect Dr. Ing. h.c. F. Porsche AG's current views about future events. These statements are subject to many risks, uncertainties, and assumptions. They are based on assumptions relating to the development of the economic, political, and legal environment in individual countries, economic regions, and markets, and in particular for the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of publication. If any of these risks and uncertainties materializes or if the assumptions underlying any of the forward-looking statements prove to be incorrect, the actual results may be materially different from those Porsche AG expresses or implies by such statements. Forward-looking statements in this presentation are based solely on the circumstances at the date of publication.We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. Additional features: File: Q3 2024 Presentation
25.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Dr. Ing. h.c. F. Porsche AG |
Porscheplatz 1 | |
70435 Stuttgart | |
Germany | |
Phone: | +497119110 |
E-mail: | info@porsche.de |
Internet: | https://www.porsche.com/international/ |
ISIN: | DE000PAG9113 |
WKN: | PAG911 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard) |
EQS News ID: | 2015523 |
End of News | EQS News Service |
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2015523 25.10.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
The most important financial data at a glance | ||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
Sales1 | 25.784,00 | 28.518,00 | 28.695,00 | 33.138,00 | 37.630,00 | 40.530,00 | 39.600,00 | |
EBITDA1,2 | 6.856,00 | 6.906,00 | 7.534,00 | 8.528,00 | 9.959,00 | 10.812,00 | 9.300,00 | |
EBITDA-Margin3 | 26,59 | 24,22 | 26,26 | 25,74 | 26,47 | 26,68 | 23,49 | |
EBIT1,4 | 4.289,00 | 3.862,00 | 4.177,00 | 5.314,00 | 6.770,00 | 7.284,00 | 5.745,00 | |
EBIT-Margin5 | 16,63 | 13,54 | 14,56 | 16,04 | 17,99 | 17,97 | 14,51 | |
Net Profit (Loss)1 | 3.118,00 | 2.801,00 | 3.166,00 | 4.038,00 | 4.957,00 | 5.157,00 | 4.000,00 | |
Net-Margin6 | 12,09 | 9,82 | 11,03 | 12,19 | 13,17 | 12,72 | 10,10 | |
Cashflow1,7 | 3.845,00 | 4.486,00 | 4.140,00 | 6.416,00 | 7.114,00 | 7.023,00 | 0,00 | |
Earnings per share8 | 3,42 | 3,07 | 3,47 | 4,43 | 5,43 | 5,67 | 4,40 | |
Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 1,01 | 2,31 | 2,31 |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: Ernst & Young
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
INVESTOR-INFORMATION | ||||||
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Porsche VZ | ||||||
WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
PAG911 | DE000PAG9113 | AG | 53.402,82 Mio € | 29.09.2022 | Halten | 8FWFR5M3+M2 |
PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
10,96 | 25,87 | 0,42 | 13,41 | 2,73 | 7,60 | 1,32 |
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
1,01 | 2,31 | 2,31 | 3,94% |
Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
21.05.2025 | 29.04.2024 | 24.07.2024 | 29.10.2024 | 12.03.2025 |
Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
-8,41% | -19,48% | -26,63% | -26,80% | -28,95% |
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