By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    BMW and Alvaro Barrington celebrate hydrogen mobility at Art Basel in Basel 2025
    June 18, 2025
    MHB DEALER EXPO 2025 – A Premier Automotive Networking Experience
    June 17, 2025
    Entries Open for The Cape 1000 – South Africa’s Most Beautiful Drive Returns for 2026
    June 10, 2025
    Ulterio Motiv Toyota Land Cruiser 6×6 and 6×4 to invade Land Cruiser Festival
    June 3, 2025
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
  • Bikes
    BikesShow More
    Desmo450 MX: Production of the first Ducati Motocross bike begins
    May 28, 2025
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new BMW R 1300 RS
    May 2, 2025
    BMW Motorrad presents the new BMW R 1300 RT
    April 30, 2025
    Honda NC750X Named Winner in 2025 Red Dot Design Award
    April 10, 2025
  • News
    NewsShow More
    Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
    June 20, 2025
    50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
    June 20, 2025
    Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
    June 20, 2025
    Winners of ISUZU AI Innovation Challenge 2024 announced
    June 18, 2025
    Kia Tasman Blazes New Trail 
    June 18, 2025
  • Concepts
    ConceptsShow More
    TOYOTA GAZOO Racing unveils liquid hydrogen-fueled “GR LH2 Racing Concept” at Le Mans
    June 11, 2025
    FIAT unveils the manifesto Grande Panda 4×4
    May 20, 2025
    Renault 4 Savane 4×4 Concept makes its global debut at Roland-Garros 2025
    May 16, 2025
    Hyundai Motor and Plus Unveil Concept for Autonomous Hydrogen Freight Ecosystem at ACT Expo 202
    May 2, 2025
    Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line
    April 5, 2025
  • Interviews
    InterviewsShow More
    24-hour race at Le Mans, the Nürburgring and Spa – triple marathon for Mercedes-AMG Motorsport
    June 10, 2025
    Kosmas “Dudie” Mamaloukos – The Formidable Racing Talent
    May 15, 2025
    Hi-Range Safari City
    Hi-Range Safari City – The Premier outfitter for 4×4 customization
    May 15, 2025
    BEHIND THE SCENES: ARCHIE RUTHERFORD ON WHAT IT TAKES TO BRING THE W2RC TO SOUTH AFRICA
    May 9, 2025
    Europe and China’s automotive future in a shifting global order
    May 5, 2025
  • EVs
    EVsShow More
    Polestar 3 OTA update introduces new Abbey Road Studios Mode exclusively for Bowers & Wilkins audio system
    June 18, 2025
    No Compromise Ford Ranger PHEV Brings Electric Power to Europe’s Best-Selling Pickup
    June 18, 2025
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Ford Begins Capri and Explorer Battery Pack Assembly in Cologne
    June 17, 2025
    Special Envoy Launches XPress – SA’s First Full EV Courier Fleet
    June 11, 2025
  • Motosport
    MotosportShow More
    Commanding performance by Škoda at Rally Poland
    June 20, 2025
    Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
    June 20, 2025
    Martin Prokop Becomes First Privateer for Ford Raptor T1+
    June 18, 2025
    The 2025 24 Hours of Le Mans in Numbers
    June 18, 2025
    Samantha Tan makes her debut in the MINI John Cooper Works at the Nürburgring
    June 18, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    Scania launches MCS rapid charging solution at EVS38
    June 18, 2025
    Daimler Truck and Volvo Group launch Coretura
    June 17, 2025
    Volvo Trucks launches upgraded Volvo Dynamic Steering system to increase road safety
    June 17, 2025
    MAN starts series production of electric trucks
    June 17, 2025
    UD Trucks Southern Africa celebrates dealers breaking barriers at 2025 awards ceremony
    June 11, 2025
  • Reviews
    ReviewsShow More
    THE NEW HAVAL H6 SUV IS HERE, AND IT’S BUILT FOR BIG MOMENTS!
    June 18, 2025
    THE NEW PEUGEOT E-208 GTi MORE PLEASURE. MORE GTi THAN EVER!
    June 17, 2025
    New BMW XM options: maximum exclusivity and breathtaking performance.
    June 12, 2025
    The Audi Q5 e-hybrid: all-rounder with great electric range
    June 11, 2025
    Lotus introduces 2026 Emira V6 SE and Emira Turbo
    June 6, 2025
  • Tech
    TechShow More
    New Kia App provides European drivers with a unified digital experience
    June 17, 2025
    Abbey Road Studios Mode makes global debut in Volvo EX90
    June 17, 2025
    Audi develops the picking process of the future
    June 2, 2025
    Volvo EX90 LiDAR and smartphone cameras: What you need to know
    June 2, 2025
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
Hot News
Commanding performance by Škoda at Rally Poland
Porsche 963 cars raise 600,000 euros in Le Mans towards Racing for Charity
Nissan Formula E Team ready for Jakarta return as Season 11 enters closing stages
50 Years of BMW Art Cars and the BMW 3 Series at the BMW Museum
Ford Performance Returns to Pikes Peak with Electric Super Mustang Mach-E Demonstrator
Auto ShowsConceptsLatest News

World Premiere of the Mitsubishi D:X Concept at the Japan Mobility Show 2023

Latest News

Opel Wins German Motor Sport Federation 2023 Sustainability Award

Latest News

PIRELLI P ZERO CELEBRATING 40 YEARS

Latest News

Lamborghini reaches a historic milestone: over 10,000 cars delivered

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Latest News

Porsche pleased with first year after IPO

Itumeleng Garebatshabe
Last updated: September 28, 2023 14:24
By Itumeleng Garebatshabe
628 Views
6 Min Read
Share
6 Min Read
SHARE
  • CEO Oliver Blume: “Our IPO has been a huge success. It’s good for our customers, our shareholders and our employees as well.”
  • CFO Lutz Meschke: “Autonomy helps us to accelerate even faster and thereby inspire our customers even more. This business success is the basis for secure and highly attractive jobs in Germany over the long term.”
  • The shareholder structure of Porsche AG remains globally broad-based and stable, with a high number of private shareholders.

Porsche AG is looking back on its first year after its much-anticipated IPO on 29 September 2022. “Today, we can say that our IPO has been a huge success. It’s good for our customers, our shareholders and our employees as well,” says Chairman of the Executive Board Oliver Blume. “With the greater entrepreneurial freedom and flexibility, we are able to set our own priorities. We can also act more quickly and with greater focus. In a dynamic and challenging global environment, that’s more important than ever.”

After going public, Porsche established individual partnerships in the field of software, for example with Apple and Mobileye. “Forward-looking steps of this nature are an important part of being able to continue to exceed the expectations of our customers with desirable products and unparalleled Porsche experiences in the future as well,” says Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT. “Autonomy helps us to accelerate even faster and thereby inspire our customers even more. This benefits not only our shareholders, but also our employees. Business success is, after all, the basis for secure and highly attractive jobs in Germany over the long term.”

- Advertisement -
Ad image

On 29 September 2022, Porsche’s Chairman of the Executive Board Oliver Blume and his deputy Lutz Meschke rang the stock exchange bell on the trading floor of the Frankfurt Stock Exchange. It was Europe’s biggest IPO by market capitalization. Just three months later, in December of that year, Porsche AG gained fast entry to the leading German stock index (DAX). “The fast entry was a testament to the great confidence of the capital market in our brand, our product strategy and our business model,” says Lutz Meschke.

Porsche has repaid that trust in recent months: in the first six months of 2023, the sports car manufacturer posted significant gains in Group sales revenue, Group operating profit and deliveries. “The demand for our sports cars is strong worldwide,” says Blume. As we continue to implement our strategy of modern, sporty luxury, we are consistently investing in our product portfolio, innovations and our digital ecosystem.

We want to make our products even better, even more unique, and even more appealing than they are today. We are focusing on limited editions and expanding our Sonderwunsch programme, among other priorities. We believe that we are very well positioned for the future – including on the important topic of sustainability.”

Porsche shares popular with private investors
Porsche’s ambitious goal is for more than 80 per cent of all new cars delivered to customers in 2030 to be all-electric. Porsche’s first all-electric sports car Taycan contributes to this. In addition, the model lines will be gradually converted to battery electric powertrains from 2024 onwards. The all-electric Macan is scheduled to be delivered to customers in 2024. The all-electric 718 is planned for the middle of the decade. The all-electric Cayenne is expected to roll out to dealers shortly thereafter. Porsche is also planning to expand its product portfolio upwards with an all-electric SUV positioned above the Cayenne.

The shareholder structure of Porsche AG remains globally broad-based and stable. Lutz Meschke: “We’re particularly pleased with the great interest from private shareholders. Many of them do not own a Porsche, but can now be a member of the Porsche family as a shareholder. By going public, we’ve made Porsche more tangible.”

Financial markets around the world have come under pressure in recent weeks. One reason for this is the increasing uncertainty regarding global economic growth following the numerous interest rate increases by central banks. At the same time, the economic developments in China are being followed with a degree of concern. This also influenced the price of the PAG911 share.

Despite the still very challenging macroeconomic situation, Porsche has confirmed its forecast for the current financial year and subsequent financial years: if the global economic and supply situation does not worsen significantly, Porsche expects a Group operating return on sales in the range of 17 to 19 per cent at the end of fiscal year 2023. This forecast is based on the assumption of sales revenue in the range from 40 to 42 billion euros. In the long term, the sports car manufacturer is aiming for a Group operating return on sales of more than 20 per cent.

TAGGED:IPOLutz MeschkeOliver BlumePorsche AG

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow
- Advertisement -
Ad imageAd image

You Might Also Like

Electric Vehicles

Porsche acquires V4Drive

By Itumeleng Garebatshabe
March 5, 2025
Latest News

Porsche Ventures 2.0 will broaden car maker’s start-up activities

By Itumeleng Garebatshabe
April 10, 2023
Latest News

Porsche delivers 310,718 vehicles in 2024

By Itumeleng Garebatshabe
January 13, 2025
Latest News

Porsche AG continues generational change to its Executive Board

By Itumeleng Garebatshabe
May 12, 2025
Latest News

Porsche AG enters its biggest year of product launches in a strong position

By Itumeleng Garebatshabe
March 13, 2024
Latest News

Porsche AG initiates long-planned change to its Executive Board

By Itumeleng Garebatshabe
February 25, 2025

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Made by Intellegere Media. All rights reserved. 2023

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner