Porsche Q1 Report 2024

In the first three months, the Porsche AG Group recorded a decline in both sales revenue and operating profit compared with the prior-year quarter. Sales revenue decreased from €10,097 million to €9,011 million. Operating profit fell from €1,840 million to €1,282 million. As of the end of the first quarter of 2024, the return on sales of the Porsche AG Group stood at 14.2% (prior year: 18.2%) and the automotive EBITDA margin stood at 23.4% (prior year: 24.4%).

The automotive net cash flow came to €107 million (prior year: €1,428 million). The automotive net cash flow margin stood at 1.3% (prior year: 15.3%).

Deliveries decreased by 3.9% in the first three months of 2024 to 77,640 vehicles. The automotive BEV share stood at 5.6% (prior year: 11.4%).

Highlights

• € 9.0 bn
• GROUP SALES REVENUE (-10.8 % compared to previous year)
• 23.4 %
• AUTOMOTIVE EBITDA MARGIN (-100 bps compared to previous year)
• 14.2 %
• GROUP RETURN ON SALES (-400 bps compared to previous year)
• 1.3 %
• AUTOMOTIVE NET CASH FLOW MARGIN (€ 0.1 bn Automotive Net Cash Flow)
• € 1.3 bn
• GROUP OPERATING PROFIT 1 (-30.3 % compared to previous year)
• 5.6 %
• BEV SHARE 2 (-580 bps compared to previous year)