Porsche Starts The Year Right With 7.7 Billion Euros In Sales Revenue For The First Quarter Of The Year!

Porsche AG managed to accomplish an operating profit of 1.2 billion euros within the first quarter of 2021, as compared to the first quarter of 2020 that came up to 572 million euros. 

As for the sales revenue of the company, it grew from 6 billion euros in the previous year quarter to 7.7 billion euros this year, a 28 percent increase. However, return on sales grew from 9.5 percent to 16.2 percent. 

The large increase in revenues and operating results was due to the economic downturn that was caused by the coronavirus pandemic in the first quarter of 2020. 

“We have started the year very well and expect that we will once again achieve our strategic goal of a 15 percent return on sales in fiscal year 2021,” says Deputy Chairman and Member of the Executive Board responsible for Finance and IT at Porsche AG, Lutz Meschke. “Reaching this benchmark is an even greater achievement because we are investing significantly more compared with the past in electrification, digitalisation and also sustainability. Our quarterly numbers show that we are positioned very well – both in terms of our cost and revenue structure and also with our model range.”

The company managed to deliver around 72,000 vehicles around the world within the first three months of the year which is an increase of 36 percent year-on-year. With up to 22,458 purchases, the Macan stands at the most popular model. 

Following the Macan is the Taycan, which is Porsche’s first fully electric sports car. This model was delivered up to 9,072 times. 

“There is a strong team behind this strong showing. Our teamwork allows us to steer the company successfully through these challenging times, based on our fresh and attractive product range,” says Chairman of the Executive Board at Porsche AG, Oliver Blume. “We will sell significantly more Taycan cars this year than in 2020. In the first quarter, deliveries of our successful all-electric model were already almost half of the total for all of 2020. A particularly pleasing fact here is that around 50 per cent of the buyers are new customers. The Taycan is therefore increasing the size of our fan base.”

“Our strong net cash flow of more than 1.5 billion euros shows that we are operating with strong margins,” said Member of the Executive Board responsible for Finance and IT, Lutz Meschke. 

“If our successful start to 2021 is not checked by a possible semiconductor shortage, I am optimistic that we will be able to deliver a record operating result at the end of the year,” says Meschke. 

“Even with all this success, we must not forget that we are facing great challenges. That is why we will continually search for potential new sources of both revenues and savings,” he announced.