Day of passion for Porschewhich presents the numbers of theExercise 2024 In a context of great concern for the future, especially in Automotive sector which for some time has been serving one crisis structural. And the new duties announced by Trump have aggravated the situation, throwing a shadow on prospects of the sector and the group.
The actions of Porsche AGthe luxury car house controlled by Volkswagen, mark a Discount of 4.78% to the Frankfurt Stock Exchangewhile holding Porsche car ifwhich holds the majority of 53% of Volkswagen, marks a drop of 1.8%. The holding will give the results of 2024 on March 24th.
The numbers of 2024
Porsche AG filed the 2024 exercise with a Floor of the profit under 3.6 billionof euro, with one contraction of 30.3% compared to 5.6 billion a year earlier. Operational profit certified at 5.6 billion euros, falling by 22.6% compared to 7.3 billion euros of a year earlier. The operating margin stands at 14.1% and compares with 18% in 2023.
THE revenues of sales were more stable, just above 40 billion Euro (-1.1% compared to 40.5 billion of the year before), while the number of cars sold is down to 310,718 vehicles from 320,221 in 2023, due to the drop of 28% of the sales recorded on the Chinese market.
The cash flow was 3.7 billion euros compared to the 4 billion in 2023.
Cut the estimates on 2025
Porsche also has The forecasts worse for 2025although not yet taken into consideration the possible impact of the US duties, which will deny the reference framework. THE revenues sales are seen descending at 39-40 billion euro. The operating margin is expected down to 10-12% this year. “In the long term, we aim for an operational return on sales of over 20%. In the medium term, we aim for 15-17% because of the context that remains difficult, “said the new CFO Jochen Breckner.
Almost 4,000 layoffs announced
The German luxury car manufacturer, due to the crisis and the worsening prospects for 2025, announced the launch of a, massive staff downsizing plan, on CuI will invest 800 million of euros and will lead it to Cut up to 3,900 jobs. In fact, Porsche will cut around 1,900 stable jobs, which are added 2,000 other positions that refer to fixed -term contracts that will not be renewed.
The dividend is saved
Despite the weak results and worsening forecasts, Porsche saves the remuneration of his shareholders. The board will offer the next assembly there Distribution of a dividend in line with that of last year, for an amount of 2.1 billion euros equal to 2.3 euros for ordinary shares and 2.31 euros for privileged.
