Porsche boosts most valuable luxury brand status

On the 75th year since the introduction of its first sports car model, Porsche AG announced it achieved record results and proposed dividends to shareholders following the company’s IPO in September last year — the biggest in European history by market capitalization.

The brand said its sales revenue for fiscal year 2022 grew 13.6 percent to €37.6 billion, its operating profit was up 27.4 percent to €6.8 billion, deliveries rose 2.6 percent to 309,884 vehicles, and net cash flow increased 5.2 percent to €3.9 billion.

Porsche revealed the figures on June 28 during the first annual general meeting the company held since its public listing. Chairman of the Supervisory Board Dr. Wolfgang Porsche and Chairman of the Executive Board Oliver Blume led the announcement and confirmed the brand’s current strategy and forecasts.

Dr. Porsche noted the performance was achieved “in spite of a multitude of changes and challenges.”

For his part, Blume said; “As one of the most valuable luxury brands in the world, we are pressing ahead with our strategy of modern, sporty luxury. And we are setting ourselves ambitious goals.”

Porsche’s board proposed a dividend of €1.00 per ordinary share and €1.01 per preferred share to stockholders.

Blume added the strong results prove the global popularity and balanced positioning of Porsche products, as well as the flexibility of the company’s business model to adapt to various challenges.

Porsche confirmed its forecast for the current year as it expects sales revenue of €40 billion to €42 billion, provided the global parts supply situation does not worsen significantly. Worldwide deliveries in the first quarter of the year reached 80,767 cars — a record for any quarter, and an 18-percent jump compared to the same period in 2022. Porsche earlier this year topped the Best Luxury Car Brands 2023 ranking of the U.S. News & World Report, an influential news organization that is also a leading authority in publishing consumer advice. Porsche was named because of the high consumer satisfaction ratings received by its entire model range.

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