Home » Record revenues for Porsche in 2020 at € 28.7 billion

Record revenues for Porsche in 2020 at € 28.7 billion

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Porsche recorded record revenues in 2020 with € 28.7 billion, over 100 million more than in 2019. The operating result was 4.2 billion (4.4) before extraordinary items and 3.9 after themselves, with an operating margin of 14.6%, within the strategic objective set despite the difficult global economic situation. Overall, Porsche delivered over 272,000 cars to customers around the world, 3% less than the record in 2019. Pre-tax profit was 4.4 billion, up from 2019. It was more than 20,000. the delivered copies of the Taycan; this makes it the most successful electric sports car in its class.
According to Lutz Meschke, vice president of the board of directors and head of the finance and IT areas of Porsche, the achievement of record results despite the global situation was possible thanks to a cost and liquidity management system set up very quickly. “Our top priority during the crisis was liquidity. We had to reduce all unnecessary costs. However, we have not skimped on the issues that concern our future. We are moving forward at a rapid pace on transformation, digitization and electrification. Trying to economize in these areas would very quickly result in a loss of competitiveness. Our cost and liquidity management provided us with a point of reference. We have protected our business in order to be able to restart at full speed once the crisis is definitively overcome ». With this goal, Porsche has perfected its ambitious “2025 Profitability Program”. “Our new goal is to improve the overall result by 10 billion euros by 2025 and by 3 the following year”.
One of the most important aspects is that it is not just a savings plan, but also an innovation program. “It’s not just a matter of cutting costs. It is about intelligently optimizing all processes and developing new business ideas ». In a complex market environment, Porsche has kept the number of employees constant at around 36,000 and has concluded a job guarantee agreement that ensures employment for the base team until 2030. “We are not cutting any jobs and we are not eliminating any branches. On the contrary, we are investing in our employees and in our future. All this is paying off: Porsche has further increased its efficiency and lowered the profit threshold. From this situation we intend to achieve our strategic goal of a profit on sales of 15% also in 2021 ». To tackle climate change, Porsche has set itself another ambitious goal: to achieve carbon neutrality throughout the value chain by 2030 by systematically avoiding and reducing CO2 emissions. All major plants such as Zuffenhausen, Weissach and Leipzig have achieved climate neutrality in 2021, the company has allocated more than a billion for decarbonisation over the next ten years and has already crossed the first milestone: the Taycan Cross Turismo presented in world premiere at the beginning of March it is the first car that will remain CO2 neutral for the entire cycle of use. In 2020, one third of all Porsches delivered in Europe were electrified models, compared to 17% worldwide. In 2025, half of all new Porsches sold will have an electric motor, by 2030 more than 80% of new cars will be zero-emission.

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