Slides
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1 DR. ING. H.C. F. PORSCHE AG S T U T T G A R T , M A R C H 1 2
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2 Disclaimer 2 This presentation contains forward -looking statements and information that reflect Dr. Ing. h.c. F. Porsche AG's current views about future events. These statements are subject to many risks, uncertainties, and assumptions. They are based on assumptions relating to the development of the economic, political, and legal environment in individual countries, economic regions, and markets, and in particular for the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of publication. If any of these risks and uncertainties materializes or if the assumptions underlying any of the forward -looking statements prove to be incorrect, the actual results may be materially different from those Porsche AG expresses or implies by such statements. Forward -looking statements in this presentation are based solely on the circumstances at the date of publication. We do not update forward -looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.
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3 Porsche – A unique Story 911 GT3 RS: Fuel consumption combined: 13,2 l/100 km; CO₂ emissions combined (WLTP): 299 g/km; CO₂ class: G 3 S U S TA I N A B L E L U X U R Y I C O N I C B R A N D R E S I L I E N T P E R F O R M A N C E P E R F O R M A N C E C U LT U R E
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4 4 01 P O R S C H E 2 0 2 4 02 P O R S C H E – A U N I Q U E S T O R Y 03 B R A N D & C U S T O M E R 04 P R O D U C T & I N N O V A T I O N 05 S U S T A I N A B I L I T Y 06 T R A N S F O R M A T I O N 07 F I N A N C I A L S
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5 01 5 PORSCHE 2024
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7 Porsche Product Year 2024 N E WN E W N E W N E W N E W 7
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8 Cayenne E-Hybrid (WLTP): Fuel consumption weighted (PHEV model range): 1,8 - 1,5 l/100 km; Fuel consumption cobined (sustaining) (model range): 10,9 - 10,0 l/100 km; Electrical consumption combined (weighted) (model range): 308 - 286 Wh/km; CO₂ Emissions weighted combined (range): 42 - 33 g/km; CO₂ Class weighted combined: B; CO₂ Class with discharged battery: G; Cayenne Turbo E-Hybrid (WLTP): Fuel consumption weighted (PHEV model range): 2,0 - 1,7 l/100 km; Fuel consumption cobined (sustaining) (model range): 12,1 - 11,3 l/100 km; Electrical consumption combined (weighted) (model range): 317 - 300 Wh/km; CO₂ Emissions weighted combined (range): 45 - 39 g/km; CO₂ Class weighted combined: B; CO₂ Class with discharged battery: G 8 91 km Cayenne E-Hybrid up to E-range WLTP (EAER city) HD matrix Headlights 739 PS Max. system power Cayenne Turbo E-Hybrid up to 544 kW Awards 2024 (Ranked #1)
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9 Panamera 4 E-Hybrid (WLTP): Fuel consumption weighted (PHEV model range): 1,4 - 1,0 l/100 km; Fuel consumption cobined (sustaining) (model range): 10,3 - 9,2 l/100 km; Electrical consumption combined (weighted) (model range): 276 - 254 Wh/km; CO₂ Emissions weighted combined (range): 32 - 23 g/km; CO₂ Class weighted combined: B; CO₂ Class with discharged battery: G Panamera Turbo S E-Hybrid (WLTPFuel consumption weighted (PHEV model range): 1,6 - 1,4 l/100 km; Fuel consumption cobined (sustaining) (model range): 11,5 - 10,8 l/100 km; Electrical consumption combined (weighted) (model range): 293 - 274 Wh/km; CO₂ Emissions weighted combined (range): 36 - 31 g/km; CO₂ Class weighted combined: B; CO₂ Class with discharged battery: G 9 96 km Panamera 4 E-Hybrid up to E-Range WLTP (EAER city) 782 PS Max. System Output Panamera Turbo S E-Hybrid up to 575 kW Awards 2024 (Ranked #1) Active Ride Highend-Suspension Porsche
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10 Taycan: Electrical consumption combined (WLTP): 20,0 - 16,7 kWh/100 km; CO₂-emissions combined (WLTP): 0 g/km; CO₂ Class: A Taycan Turbo S: Electrical consumption combined (WLTP): 20,5 - 17,9 kWh/100 km; CO₂ -emissions combined (WLTP): 0 g/km; CO₂ Class: A 10 678 km Taycan up to WLTP Range 952 PS Peak Performance Launch Control TaycanTurbo S up to 700 kW Awards 2024 (Ranked #1) 18 min Charging Speed 10-80 % SoC
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11 Taycan Turbo GT with Weissach package (WLTP): Electrical consumption combined (WLTP): 21,3 - 20,6 kWh/100 km; CO₂ -emissions combined (WLTP): 0 g/km; CO₂ Class: A 11 305 km/h Up to T op speed 1,108 PS Peak Performance Launch Control Up to 815 kW Awards 2024 (Ranked #1) 2.2 s 0-100 km/h WITH WEISSACH PACK AGE
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12 Macan: Fuel consumption combined: 10,7 - 10,1 l/100 km; CO₂-emissions combined (WLTP): 243 - 228 g/km; CO₂ Class: G Macan Turbo: Electrical consumption combined (WLTP): 20,7 - 18,9 kWh/100 km; CO₂-emissions combined (WLTP): 0 g/km; CO₂ Class: A 12 641 km Macan up to Range 639 PS Launch Control Macan Turbo up to 470 kW Awards 2024 (Ranked #1) 3.3 s Macan Turbo 0-100 km/h
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13 911 Carrera GTS: Preliminary Fuel consumption combined: 11,0 - 10,5 l/100 km; Preliminary CO₂ -emissions combined (WLTP): 251 - 239 g/km; Preliminary CO₂ Class: G 13 312 km/h Up to T op speed 541 PS Up to 398 kW Awards 2024 (Ranked #1) 3.0 s 0-100 km/h CARRERA GTS
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14 14 Historically successful Motorsport season 2024 FO R M U L A E W EC I M S A Drivers' Championship 1 Team & Manufacturer 1 Drivers' Championship 1 Team & Manufacturer 2 Drivers' Championship 1 Manufacturer 2
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15 02 15 PORSCHE – A UNIQUE STORY
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16 We continue to build on the core elements of our long -term strategy CUSTOMER PRODUCT SUSTAINABILIT Y TR ANSFORMATION Strategy 2030 PLUS QUALIT Y
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17 We have a strong foundation C U STO M E R P R O D U CT S U STA I N A B I L I T Y Strong Customer Base Unique Community Global Sales Coverage Desirable Products Balanced Drivetrain Offering Performance & Motorsports Strong Brand Heritage & Exclusivity Customer Loyalty 17
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18 TOP 10 MOST VALUABLE LUXURY AND PREMIUM BR ANDS 2025 Porsche as a leading luxury brand Source: Brand Finance Luxury & Premium 50 2025 | Link: https://brandirectory.com/rankings/luxury -and-premium/ 1 3 4 5 6 7 8 9 10 2
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19 Continued balanced geographical footprint 1 Based on former Porsche SE fiscal year ended July 2008 | 2 Includes Africa, Asia (excl. China), Australia, Middle East, South America and Mexico | 3 China includes Mainland China and Hong Kong | 4 North America includes USA and Canada G E O G R A P H I C E X P A N S I O N R E G I O N A L D E L I V E R Y MIX 18 % Overseas and Emerging Markets 2 28 % North America 4 36 % Europe 18 % China 3 F Y 2 0 0 8 1 ~100 k Vehicles Delivered 34 % North America 4 19 % Overseas and Emerging Markets 2 40 % Europe 7 % China 3 13 % Overseas and Emerging Markets2 26 % North America 4 29 % Europe 32 % China3 G E O G R A P H I C B A L A N C E F Y 2 0 2 1 ~300 k Vehicles Delivered F Y 2 0 2 4 ~310 k Vehicles Delivered
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20 Strong Average Sales Price Development based on Price, Mix and Value over Volume Vehicle sales, in the Porsche AG Group are designated as those sales of new and group used vehicles of the Porsche brand, whi ch have left the automotive segment for the first time, provided there is no legal repurchase obligation by a company in the automotive segment. CAGR 4% 2019 2024 €97k €117k PRICE MIX VALUE OVER VOLUME 20 Automotive Sales Revenue per vehicle sold
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21 We continuously adapt our strategy to respond to the new situation with the greatest possible flexibility Strategy 2030 PLUS C U S T O M E R P R O D U C T S U S T A I N- A B I L I T Y T R A N S- F O R M A T I O N G E O P O L I T I C A L T E N S I O N S B E V A D A P T I O N S U P P LY C H A I N 21 Q U A L I T Y
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22 03 22 BR AND & CUSTOMER
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23 IT'S NOT WHAT YOU BUY, IT'S WHAT YOU BUY INTO. Holistic Brand Experience as Top Priority 23
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24 360 ° CUSTOMER E XPERIENCE Unique Porsche Design Covers All Customer Touchpoints
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25 D E S I R A B I L I T Y I N D I V I D U A L I S AT I O N S P E C I A L E D I T I O N S Elevate Individualisation Experience 25
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26 B E S P O K E P R E- D E F I N E D O P T I O N S E Q U I P M E N T C L A S S I C P A R T S OFFER STRUCTURE Individualisation & Classic V E H I C L E S
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27 BESPOKE CL ASSIC & RESTORATIONONE -OFFS SONDERWUNSCH Individualisation & Classic 27
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28 E XCLUSIVE MANUFAK TUR Individualisation & Classic V E H I C L E S MARKET LIMITED VEHICLESGLOBAL LIMITED VEHICLES
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29 E XCLUSIVE MANUFAK TUR Individualisation & Classic O P T I O N S EX TERIOR DESIGN INTERIOR DESIGN PAINT TO SAMPLE Panamera Turbo S E-Hybrid: Fuel consumption weighted (PHEV model range): 1,6 - 1,4 l/100 km; Fuel consumption cobined (sustaining) (model range): 11,5 - 10,8 l/100 km; Electrical consumption combined (weighted) (model range): 293 - 274 Wh/km; CO2 Emissions weighted combined (range): 36 - 31 g/km; CO2 Class weighted combined: B; CO2 Class with discharged battery: G 29
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30 E XCLUSIVE MANUFAK TUR Individualisation & Classic E Q U I P M E N T CHARGING UTILIT Y ACCESSORIES
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31 STR ATEGY E VOLUTION Individualisation & Classic 1 . 0 R E A L I G N M E N T 3 . 0 F U L L P O T E N T I A L 202520232019 2 . 0 [ U P ] S C A L I N G Let‘s start the engine! Let‘s shift upwards! Let’s…
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32 S C A L E E X I S T I N G I N D I V I D U A L I S A T I O N O F F E R C R E A T E N E W E X P E R I E N C E S M A X I M I S E I M P A C T O N B R A N D I N D I V I D U A L I S AT I O N& C L A S S I C [ U P ] S C A L I N G S T R AT E G Y 3 times more SONDERWUNSCH PROJECTS SONDERWUNSCH EXPERIENCES as a WORLDWIDE offer
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33 DE VELOPMENT OF AVERAGE TURNOVER FROM E XCLUSIVE MANUFAK TUR PER CAR (ILLUSTRATIVE ) The average revenue from Exclusive Manufaktur options per car in 2024 continued the previous growth trend 2019 2020 2021 2022 2023 2024 … P R OJ E CT I O N +100% +7% R E A L I GN ME NT [ U P ] S C A L I NG F U L L P OT E N TI A L
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34 The current wait times for the SONDERWUNSCH products reflect the high demand and indicates the sales potential O N E- OF FS ~ 8 Y E A R S R E S TO R AT I O N ~ 2 Y E A R S B E S P O K E ~ 1 Y E A R RE - C O M MIS S IO N ~ 2 Y E A R S PA I N T TO S A M P L E L I M I T E D AVA I L A B IL I T Y PRODUCT OFFER WAITING TIME & RESTRICTIONS
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35 H O M E O F I N D I V I D U A L I S A T I O N & C L A S S I C Exploiting the strong potential of Individualisation with a clear focus on exclusivity Paint to Sample even more “Halo-Vehicles“ C O R E H E R I T A G E O F F R O A D , … Vehicles 2024 Vehicles 2030 Turnover per vehicle 2024 Turnover per vehicle 2030 Vehicles 2024 Vehicles 2030
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36 36 04 PRODUCT & INNOVATION
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37 Unique Product IDs While Keeping a Strong Brand ID BRAND IDENTITY Recognize, that it is a Porsche PRODUCT IDENTITY Recognize, which Porsche it is 37
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38 Balanced offering of combustion engines, plug -in hybrids and purely electric drives well into the 2030s 38 ICE HYBRID BE V
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39 - ILLUSTRATIVE - Increasing our high flexibility for the transition period # model range # expected sales # model range # expected sales − Extented and improved offering well into the 2030s incl. modernized E/E-architecture − Broadening offering incl. selective portfolio expansions − Strengthening Porsche exclusive portfolio − Strengthening BEV offering incl. modernized E/E-architecture − Further development of Porsche BEV sports car identity and strengthening Porsche exclusive portfolio − Active contribution to removing BEV-Market barriers I N CRE AS I NG F L E X I B I L I T Y D U R I N G T R A N S I TI ON W I N NI NG T H E LU X U RY B E V R A C E previous planning current planning Expected effect of the measures taken ICE/HEV BEV Currently stronger and longer-term ICE/HEV demand than forecasted Currently weaker BEV demand than forecasted
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40 Porsche derivative strategy with focus on a high level of exclusivity CORE TR ACK ST YLE PIONEER
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41 Joint strategic technology development in the VW group ensures synergies and speed in the future DIFFERENTIATING PORSCHE LEVERAGING VOLKSWAGEN GROUP ECOSYSTEM & SCALE Exclusive & performance experience Unique & differentiating value proposition Porsche specific technologies Porsche specific partnerships Joint development & use of technology Benefitting from purchasing power Standardized technologies Large scale effects
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42 A high -performance architecture is the key to future competitiveness We are aiming for a Software Defined Vehicle… Continuous improvement through over-the-air updates Enhanced security Comfort through connectivity Sustainability & efficiency Personalized user experience Future readiness & flexibility
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43 Meet our future BEV -architecture from the new joint venture New BEV-Architecture − 50/50 Joint Venture of the VW Group and Rivian − 2 Co-CEOs from VW Group and Rivian High-performance & future-proof technology 100 % access to the developed hardware & software Low costs due to economies of scale Fast development based on industrialized architecture
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44 44 05 SUSTAINABILIT Y
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45 Sustainability – Strategic Pillars 01 02 03 04 05 06
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46 In challenging times Porsche keeps on striving for decarbonisation of its value chain 1 For example the use of renewable energy in the vehicle use phase | 2 The Code of Conduct for Business Partners requires direct business partners of Porsche to take appropriate actions to reduce air emissions, including greenhouse gas emissions. In addition, they must also work towards reducing greenhouse gas emissions in their upstream supply chain, for example by increasing the use of renewable energy sources. Actions must also be taken to ensure that energy is used as efficiently as possible. | 3 For example electricity from renewable energy sources such as solar, wind or hydropower and biomethane. | 4 The goal of Porsche is to continuously reduce its emissions along the value chain of its vehicles while also making increasingly efficient use of energy in the company’s own business ac tivity. | 5 Realizing Porsche’s ambition depends upon various factors, e.g. technological progress that has not yet been fully developed, and also on regulatory or economic developments that are outside the Porsche AG Group’s direct control and may therefore not be realiz able. Porsche monitors the individual global markets closely and continuously reviews its product strategy and product range structure for vehicles, including the drive types offered, depend ing on their development. It intends to pursue the target of a 1.5°C reduction pathway as long as possible. VEHICLE PRODUCT STRATEGY Increasing the proportion of electrified vehicles in the production portfolio, particularly in combination with actions in the use phase1 SUPPLY CHAIN − Demand for direct suppliers to use renewable energy in manufacturing processes for vehicle components2 − Increasing use of more environmentally sustainable materials in vehicles VEHICLE PRODUCTION Renewable energies3 at Porsche‘s own vehicle production and development sites VEHICLE USE PHASE − Renewable energies in the use phase − Continuous increase in vehicle efficiency ASPIRATION Reduce the impact of the own activities on the environment and climate along the value chain of the vehicles.4 AMBITION Make an active contribution to limiting the rise in the global average temperature to a maximum of 2°C compared to pre-industrial levels and, pursue efforts to limit the increase to 1.5°C.5
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47 Being responsible. The new all -electric Macan 1 Find more information on https://www.porsche.com/germany/sustainability/ Macan Turbo: Electrical consumption combined: 20.7 – 18.9 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A 47 PRODUCTION 02 Porsche reduces CO₂ emissions during production of the Macan in Leipzig by using electricity from 100% renewable energy and largely meeting heating requirements with renewable energy. 1 USE PHASE 03 Porsche is supporting the development of wind and solar energy plants to cover the expected electricity demand of the Macan fleet based on a driving distance of 200,000 km at WLTP consumption. 1 RECYCLING 04 Porsche takes a resource - conserving approach to handling raw materials for high - voltage batteries. To pursue this, a dedicated repair concept was introduced, and an investment was made in a recycling company. 1 SUPPLY CHAIN 01 Porsche has taken measures to reduce the Macan’s CO₂ emissions in the supply chain. This is why, for example, CO₂ - reduced aluminum and electricity from renewable energy are used. 1
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48 Porsche as a responsible Partner to Society 1 The donation total for the reporting year also includes a donation in kind of around €2 million. PROMOTING SAFE WORK Porsche wants to support people along the vehicle value chain and advocates for responsible and safe working conditions. This includes occupational health and safety and ensuring sustainable livelihoods. PROMOTING SAFE WORK Fulfilling people’s dreams is a matter close to the heart of Porsche. Education and integration in particular aim to strengthen self-realization and secure prospects for the future. Porsche aims to specifically engage and support young people via sports projects. ENABLING A SELF -DETERMINED LIFE Particularly in the Global South, Porsche wants to help people secure their future livelihoods and lead a self-determined life. CORPORATE CITIZENSHIP INITIATIVES Intended to achieve long-term sustainable social added value in the aforementioned areas of impact. They aim to facilitate opportunities, participation and prospects and improve the lives of disadvantaged people. FUNDING PROJECTS 2024 Porsche sponsored 117 projects with a total of € 9.8 million1, many of which it has been supporting for years. CREATING CHANCES
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49 2024 ACTUALS VS. TARGE T Porsche exceeded the targets for the statutory gender quota 2 0 2 4 A C T U A L S 2 0 2 4 TA R G E T 22.0 % 20.0 %First management level 18.8 % 18.0 %Second management level
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50 OVERVIE W OF RECENT R ATING RESULTS External assessment of Sustainability Performance 1 Scale D- to A+ (best), score as at date: 12/03/2024 l 2 inverse scale 100 to 0 (best), last full update 12/20/2024 l 3 scale C CC to AAA (best), rating action date: 10/29/2024, 4 Update 02/2025, scala D- to A (best) 2024 1 C+ (PRIME) 2 18.3 (LOW RISK ) 3 BB A- 4
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51 51 06 TR ANSFORMATION
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52 Porsche has only remained Porsche by constantly changing O L I V E R B L U M E Adaptability – a key element in our Porsche performance culture A G I L I T Y Flexibility and adaptability P I O N E E R I N G S P I R I T Innovation and entre - preneurial mentality P A S S I O N Enthusiasm and engagement O N E F A M I LY Strong team and attractive employer P E R F O R M A N C E C U LT U R E – A S T R O N G D R I V E R F O R O U R F U T U R E S U C C E S S
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53 Road to 20 as continued enabler for profitability resilience Continuation of Road to 20 as performance program with general, long-term, strategic ambition of > 20 % RoS Refocus of Road to 20 to strengthen resilience in challenging times Emphasis now on sustainable optimisation of the cost structure, e.g. − Personnel costs − China rightsizing
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54 Regulatory framework of rescaling on employee side Immediate measures for personnel costs Agreement for the implementation of socially responsible staff reductions Securing the production program 2025 2 0 2 5 M E A S U R E S S T R U C T U R A L P A C K A G E Sustainable adaptation of personnel costs Review of the overall alignment of PAG & focus on core competencies Flexibilization & optimisation of corporate structure I N N E G O T I A T I O N S T R U C T U R E Q U A N T I T Y C O S T S
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55 Socially responsible measures to optimise corporate structure and strengthening future resilience 1) Full Time Equivalent; Porsche AG 2) Sonder-ATZ = Special phased retirement program DEVELOPMENT OF POSITIONS & F TE 1 MEASURES 01 02 03 Restrictive hiring „Sonder-ATZ“ 2 program Utilizing demografics 2024 20292028202720262025 FTE- Forecast
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56 Our China strategy builds on three focus areas derived from our global strategy PRODUCT & SERVICES CUSTOMER & BR AND ORGANISATION & EFFICIENCY
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57 150 01/2024 01/2025 01/2027 144 ~ 100 31 01/2024 01/2027 ~25 01/2024 Q1/2025 ~ 450 ~ 400 01/2024 Q1/2025 ~ 200 ~ 100 # Point of Sales # Investors # Internal Core Employees (FTE) 1 # External Employees First milestones of recalibrating our Chinese footprint have already been reached NE T WORK RECALIBRATION INTERNAL REORGANIZATION 1) Without adjacent affiliates as PMAP, PDIG China, E-Satellite, B-Satellite, PLX
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58 Potential Midterm Drivetrain Portfolio: Leipzig Zuffenhausen Bratislava Panamera Macan 911 Cayenne Taycan Cayenne Coupé Taycan CUV / ST Osnabrück (until Q3 2025) 718 Cayman 718 Boxster Macan electric Current Lean Production Footprint 58 Malaysia Cayenne WITH FULL FLE XIBILIT Y TO RESPOND TO FUTURE CUSTOMER DEMAND …. BEV HEV ICE
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59 Porsche has implemented various measures to manage supply chain risks for production material > 80.000 Parts & Components 2.000 Tier 1 Suppliers for production material Supply Chain Transparency Enhanced Cyber Security Concepts Artificial Intelligence Material Group Strategy Rolling Review for New Risks ME ASURES FOR TOP MATERIAL GROUPS RISK RADAR Raw Material Nature Energy Politics HR Currency Technology/IP Manipulation/ Aggressiveness Logistics SUPPLY CHAIN RISK R ADAR For all new components
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60 07 60 FINANCIALS
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61 DESPITE CHALLENGING CONDITIONS AND ELE VATED SPENDING Porsche AG – Strong Top Line and Solid Performance TOPIC MES SAGE 2024 GROUP Even under challenging conditions, Porsche is financially robust with a strong cash conversion benefiting from our “value over volume” approach and continued strong customer demand 2024 AUTOMOTIVE Porsche successfully implemented the largest model offensive in its history and pushed ahead with the development of innovative products and services 2025 OUTLOOK Porsche has launched extensive measures, which are significantly impacting the 2025 performance 2025 AUTOMOTIVE OUTLOOK In view of the changing framework and global challenges, Porsche will invest in the product portfolio, software and our exclusive business to increase the company’s profitability and business resilience in the mid and long-term
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62 FINANCIAL PERFORMANCE OVERVIE W 2024 Group and Automotive 1 Not among most important performance indicators GROUP SALES RE VENUE (-1.1 % compared to previous year) GROUP RE TURN ON SALES (-390 bps compared to previous year) GROUP OPER ATING PROFIT 1 (-22.6 % compared to previous year) AUTOMOTIVE EBITDA MARGIN (€ 8.3 bn Automotive EBITDA) AUTOMOTIVE NE T CASH FLOW MARGIN (€ 3.7 bn Automotive Net Cash Flow) BE V SHARE (-10 bps compared to previous year )
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63 AUTOMOTIVE OPER ATING PROFIT (Automotive RoS 14.5 %) AUTOMOTIVE NE T LIQUIDIT Y (+18.6 % compared to previous year) AUTOMOTIVE RESE ARCH AND DE VELOPEMENT COSTS (6.9 % of Automotive Sales Revenue) AUTOMOTIVE CAPITALE XPENDITURE (5.8 % of Automotive Sales Revenue) RE TURN ON INVESTMENTS (-670 bps compared to previous year) FINANCIAL PERFORMANCE OVERVIE W 2024 Group and Automotive
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64 2023 VS. 2024 Group – Sales Revenue and Operating Profit Extensive renewal of product portfolio, the overall challenging economic and political environment, the slower transformation towards electromobility, tense supply chain and market developments in China continued to have an impact on the business situation Moving forward with the largest model offensive with elevated spending for product, innovation and Porsche brand Operating Profit in Financial Services at RoS of 7.1 % 2023 2024 40.140.5 -1.1 % 2023 2024 5.6 7.3 -22.6 % 14.1 %18.0 % RoS GROUP SALES RE VENUE , IN € BN GROUP OPER ATING PROFIT, IN € BN 64
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65 2023 VS. 2024 Group – Operating Profit Development EBIT 2023 Gross margin without R&D R&D SG&A Other EBIT 2024 7.3 -1.0 -0.3 -0.3 -0.1 5.6 18.0 % RoS 14.1 % RoS -22.6 % CONTRIBUTOR S TO OPER ATING PROFIT DE VELOPMENT, IN € BN Group Sales Revenues impacted by lower product availability and focus on globally balanced deliveries Positive impact from increased pricing and beneficial individualisation Elevated material costs, R&D expenses, D&A and launch costs related to the introduction of the new model lines Slightly higher SG&A from investing in digitalization and customer relation services 65
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66 66 2023 VS. 2024 Automotive – Sales Revenue and Deliveries Lower Automotive Sales Revenues due to changeovers of Panamera, Taycan, Macan as well as the model launch of the 911 Increased pricing and beneficial individualisation Lower China volume due to ‘value over volume strategy’ Parts availability and a fragile supply chain impacted unit sales and mix Slower than expected BEV transition 1 The performance indicator "deliveries" reflects the number of vehicles handed over to end customers. This may take place via group companies or independent importers and dealers. 2023 2024 117117 Automotive Sales Revenue per Delivery 1, in € k 2023 2024 12.7 % BEV Share, in % 12.8 % A U T O M O T I V E S A L E S R E V E N U E , I N € B N 36.437.3 -2.4% 310.7 320.2 -3.0 % D E L I V E R I E S , I N K U N I T S
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67 2024 2023 VS. 2024 Automotive – Deliveries 1 Excl. Mexico l 2 incl. Hong Kong REGIONAL DISTRIBUTION 320.221 DELIVERIES 2023 310.718 DELIVERIES Porsche has grown in four out of five world regions and achieved historic records Porsche is sticking to its value - based sales approach aiming to balance demand and supply Sales structure across regions more balanced than ever The decline in China is mainly due to the continuing challenging economic situation in this region The Overseas and Emerging Markets again developed positively with growth of 6% in sales compared to previous year 67 North America 1 Germany Europe (excl. GER) 16 % 10 % 22 % 27 % 25% North America 1 Germany Europe (excl. GER) 18 % 12 % 24 % 28 % 18 % Overseas and Emerging Markets Overseas and Emerging Markets China 2China 2
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68 2023 VS. 2024 Automotive – Deliveries Porsche AG renewed four out of the six model lines in 2024 New electric Macan has been successively introduced to the markets with over 18k units The iconic 911 sports car continued to enjoy great popularity in 2024 The Cayenne has become the bestseller after refresh in 2023 The decline of 13% for the new Panamera due to lower demand in the Chinese market The 49% decline in Taycan due to the slower than planned BEV transition and the product changeover Product Changeover 2024 Macan Electric Macan Petrol MODEL DISTRIBUTION, IN K UNITS 20.518 34.020 40.629 50.146 87.355 87.553 23.670 29.587 20.836 50.941 82.795 102.8892024 2023 +18 % -5 % +2 % -49 % +15 % -13 % 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 [18.278] [64.517 ] 68
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69 2022 VS. 2023 VS. 2024 Automotive – Deep Dive on Vehicle Sales 1 Vehicle sales, in the Porsche AG Group are designated as those sales of new and group used vehicles of the Porsche brand, which have left the automotive segment for the first time, provided there is no legal repurchase obligation by a company in the automotive segment. l 2 Excl . Mexico l 3 Incl. Hong Kong Automotive Sales Revenue per vehicle sold, in € k 1 Germany China 3 Europe (excl. GER) Overseas and Emerging Markets North America 2 REGIONAL DISTRIBUTION, % OF VEHICLE SALES 112 117110 12 % 27 % 30 % 19 % 12 % 12 % 29 % 23 % 22 % 14 % 13 % 32 % 16 % 24 % 15 % 202420232022 313.721 333.605 312.620Vehicle sales
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70 70 2023 VS. 2024, IN € BN Automotive – Operating Profit Automotive Sales Revenues impacted by lower product availability and ‘value over volume‘ strategy in China Positive impact from increased pricing and beneficial individualisation Elevated material costs, R&D expenses, D&A and launch costs related to the introduction of the new model lines Slightly higher SG&A from investing in digitalization, brand and customer relation services Lower product availability triggered unfavorable fixed cost coverage -23.8 % 18.6 % 14.5 %Automotive RoS 25.7 % 22.7 %Automotive EBITDA Margin 2023 2024 6.9 5.3
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71 -8.0 % 71 2023 VS. 2024, IN € BN Financial Services – Operating Profit Lower penetration rate due to high interest rate environment, shifts in market mix, and new model launches Unchanged robust risk profile Less favorable valuation effects from interest rate derivatives outside of hedge accounting, along with a reduced release of the residual value risk reserve due to the normalization of market values40.1 % 39.6 % Penetration rate, in % 0.3 0.3 2023 2024
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72 72 2023 VS. 2024 Automotive – Net Cash Flow and Liquidity Cash flow from operating activities decreased due to lower Automotive Operating Profit and lower profit before tax offset by inflows in working capital Cash flow from operating activities includes cash outflows of 250 million Euros in connection with pension plans funding Mid-three-digit million Euro investments in strategic partnerships, technology and digitalization Increase in net liquidity resulting primarily from cash inflows from the automotive net cash flow 1 Termination of domination and profit and loss transfer agreement (“DPLTA”) at financial year -end 2024 2023 20242023 2024 3.7 4.0 -6.0 % % of Automotive Sales Revenue10.3 %10.6 % N E T C A S H F L O W , I N € B N 7.2 +18.6 % N E T L I Q U I D I T Y , I N € B N 8.6
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73 MOST IMPORTANT PERFORMANCE INDICATORS Porsche Financial Outlook In its planning for 2025, the Porsche AG Group assumes slightly weaker global economic growth and a slight average increase i n global demand for passenger cars compared to the reporting year. However, there are uncertainties in this regard, particularly due to the global geopolitical environment. Difficult market conditions due to protectionist tenden cies and intensified competition in the important markets of the USA and China, coupled with a continuing high level of costs, amortization and depreciation, will make the 2025 fiscal year a challenging one for the Porsche AG Group, in which high one-off burdens are also expected as a result of additional planned measures. At the same time, the Porsche AG Group expects these activities to strengthen its earnings power in the short and medium term. Furthermore, the Por sche AG Group believes it is well positioned to exploit market potential with its existing product range – in line with demand in individual regions – and to further strengthen the Porsche brand worldwide. GROUP Sales Revenue € 40.1 bn € 39 - 40 bn Return on Sales (RoS) 14.1 % 10 - 12 % AUTOMOTIVE EBITDA Margin 22.7 % 19 - 21 % Net Cash Flow Margin 10.2 % 7 - 9 % BEV Share 12.7 % 20 - 22 % 2024 OUTLOOK 2025 Our general long-term strategic ambition 20+ % Group Return on Sales
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74 Extensive measures have been initiated to strengthen the financial resilience and profitability in the short and medium term 911 GT3: Fuel consumption combined: 13,8 - 13,7 l/100 km; CO₂-emissions combined (WLTP): 312 - 310 g/km; CO₂ Class: G 2024 2025 Product Availability Optimised Fixed Costs/ Organisational Benefits Expansion of Product Portfolio / ‚Halo projects‘Expansion Exclusive Manufaktur Value over Volume RoS Challenging macro economic and geopolitical conditions, slower ramp-up of electric mobility, tense supply chain Product changeover & Economic environment Strategic initiatives / recalibration €0.8 bn Fixed Costs Illustrative
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75 Company Framework requires short -term Capex and R&D increase for strategic adaptation Illustrative 2021 2025 Extensive Product Changeover Portfolio Prioritisation and Software FUTURE CAPEX & R&D
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76 Capital Allocation Policy DIVIDEND: 20241: € 2.30 / € 2.31 per ordinary / preferred share MID -TERM TARGE T : 50 % pay-out ratio2 CAPE X & R&D : Focused investment program TECHNOLOGY & VENTURE : Select investments with preference for partnerships PENSION : Commitment to partially fund the pension deficit in foreseeable time frame LIQUIDIT Y : Automotive net liquidity position of 15-20 % of Automotive Revenue 76
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77 Group – condensed consolidated Income Statement S A L E S R E V E N U E 40,530 100.0 40,083 100.0 -446 -1.1 (-) Cost of sales -28,924 -71.4 -29,756 -74.2 -832 2.9 (=) Gross profit 11,606 28.6 10,327 25.8 -1,278 -11.0 (-) Distribution expenses -2,869 -7.1 -3,099 -7.7 -230 8.0 (-) Administrative expenses -1,787 -4.4 -1,859 -4.6 -72 4.1 (+/-) Net other operating result 335 0.8 268 0.7 -66 -19.9 (=) Operating profit 7,284 18.0 5,637 14.1 -1,647 -22.6 (=) Financial result 91 0.2 -409 -1.0 -500 < -100.0 (=) Profit before tax 7,375 18.2 5,227 13.0 -2,147 -29.1 (-) Income tax expense -2,218 -5.5 -1,632 -4.1 586 -26.4 (=) Profit after tax 5,157 12.7 3,595 9.0 -1,562 -30.3 Basic/diluted earnings per ordinary share in € 5.66 3.94 Basic/diluted earnings per preferred share in € 5.67 3.95 2023 % 2024 DELTA %%IN € MN
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78 Automotive – Research & Development IN € MN 2023 2024 Total research and development costs 2,834 2,528 % of Automotive Sales Revenue 7.6 % 6.9 % Expensed research and development costs (A) 752 945 % Total research and development costs 26.5 % 37.4 % Capitalized development costs 2,081 1,583 % Total research and development costs 73.5 % 62.6 % Amortization on capitalized research and development costs (B) 960 1,101 Research and development costs recognized in income statement (A)+(B) 1,712 2,046 % of Automotive Sales Revenue 4.6 % 5.6 %
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79 Group – condensed consolidated Statement of Financial Position Intangible assets 8,554 8,941 387 4.5 Property, plant and equipment 9,394 10,048 654 7.0 Leased assets 4,190 5,393 1,202 28.7 Financial services receivables 4,676 5,078 402 8.6 Equity-accounted investments, other equity investments, other financial assets, other receivables and deferred tax assets 3,592 3,780 187 5.2 Non-current assets 30,407 33,239 2,832 9.3 Inventories 5,947 6,130 183 3.1 Financial services receivables 1,669 1,808 139 8.3 Other financial assets and other receivables 4,537 3,712 -826 -18.2 Tax receivables 235 289 54 23.0 Securities and time deposits 1,826 1,965 139 7.6 Cash and cash equivalents 5,820 6,384 564 9.7 Assets held for sale 6 - -6 -100.0 Current assets 20,040 20,288 248 1.2 Total assets 50,447 53,527 3,080 6.1 31.12.2023 31.12.2024 DELTA %IN € MN
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80 Equity before non-controlling interests 21,667 23,043 1,376 6.3 Non-controlling interests 1 13 12 > 100.0 Equity 21,668 23,056 1,388 6.4 Provisions for pensions and similar obligations 4,315 4,074 -241 -5.6 Financial liabilities 6,537 7,160 623 9.5 Other liabilities 4,360 4,894 535 12.3 Non-current liabilities 15,211 16,128 917 6.0 Financial liabilities 3,880 4,253 372 9.6 Trade payables 3,490 3,378 -111 -3.2 Other liabilities 6,192 6,712 520 8.4 Liabilities associated with assets held for sale 5 - -5 -100.0 Current liabilities 13,567 14,343 776 5.7 Total equity and liabilities 50,447 53,527 3,080 5.9 Group – condensed consolidated Statement of Financial Position 31.12.2023 31.12.2024 DELTA %IN € MN
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81 APRIL 29, 2025 Quarterly Report January - March 2025 MAY 21, 2025 Annual General Meeting 20251 JULY 30, 2025 Half-Yearly Financial Report 2025 OCTOBER 24, 2025 Quarterly Report January - September 2025 Financial Calendar 2025 The Annual General Meeting 2024 of Porsche AG is currently still in the planning stage. The format and venue of the Annual General Meeting 2024 will be announced ahead of the event on the Investor Relations website of Porsche AG
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82 EXECUTION RUBBER ROAD. 82