Porsche AG finished the 2022 financial year strong with four new records.
Porsche AG has recently released its group sales revenue for 2022. The German marque has amounted a staggering €37.6 billion (S$54,1B), which exemplifies a 13.6 per cent growth. Total costs for the year was 6.8 billion euros, an increase of 1.5 billion euros or 27.4 per cent from the 2021.
This year, the Stuttgart sports car maker has big plans to advance its modern luxury strategy, thus it has since launched its ‘Road to 20’ initiative in a bid to achieve its long-term profit target.
Oliver Blume, chairman of the Porsche AG executive board, stated “In difficult conditions, we achieved the strongest result in the history of Porsche, by some distance. We were also able to offer our customers exciting new products yet again in 2022. This is the result of a great team performance.”
Despite a year plagued with civil wars, the reminents of the COVID-19 pandemic, and challenges in global supply chains, Porsche AG still managed to deliver 309,884 vehicles to customers. Automotive net cash flow also grew from 3.7 billion euros to 3.9 billion euros.
“Our success factors are improved price positioning, the strong product mix, the increase in vehicle sales, exchange rate effects, and our strict cost discipline,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT.
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