Porsche AG consolidated its position as one of the world’s largest profitable car manufacturers over the past financial year, with sales revenue and operating profit growing to their highest ever.
The company’s sales amounted to 33.1 billion euros in 2021, an increase of 4.4 billion euros compared to 2020, with a growth rate of 15 percent, as 2020 sales reached 28.7 billion euros.
Operating profits in 2021 amounted to 5.3 billion euros, an increase of 1.1 billion euros and 27 percent compared to 2020, with Porsche sales achieving operating returns by 16 percent.
“Our positive business results reflect the courageous and innovative decisions we made and our ability to foresee the future, at a time when the automotive sector is witnessing perhaps the largest transformation in its history,” said Oliver Blume, Executive Chairman of the Porsche Group AG.
For his part, Lutz Mischke, Executive Vice Chairman and Member of the Executive Board for Finance and Information Technology, said: “We continue our operations steadily thanks to the strategic approach we followed from the beginning, and the success we have achieved is due to the teamwork spirit that characterizes our company.”
Mischke pointed out that the strong numbers came thanks to the appropriate cost design developed by “Porsche AG”, in addition to the range of products that are popular with customers, which reflects the company’s ability to achieve profits, value innovation and the strength of its business model, despite the significant challenges it faces such as lack of Semiconductors.
This comes at a time when the net cash flow of “Porsche” amounted to 3.7 billion euros in 2021, an increase of 1.5 billion euros over 2020, as Mischke said, “These numbers reflect the great success that we have achieved and we are in a very good position.”
He indicated that this growth was the result of the ambitious profitability program 2025, which is designed to sustainably enhance profits through innovations and business models, pointing out that thanks to the great efforts made by employees, Porsche was able to implement the profitability program with complete success, enhance the efficiency of its business and reduce the break-even point. between expenditures and revenues, which provides them with more investment opportunities in the future despite the difficult economic conditions.
He stressed that Porsche continues to work to enhance its investments in electric cars, digital transformation and sustainability, expressing optimism that the brand will be able to transform global crises into opportunities for growth and success.