Porsche reports record 2022 profit, long-term margin objective set at 20%

Porsche AG (P911) reported a record profit for 2022 of EUR 6.8 billion, or a more than 25% year-on-year increase, as deliveries rose 2.6%.

The auto maker is aiming to achieve revenue within the range of EUR 40-42 billion in 2023, up from EUR 37.6 billion last year, and a 2023 margin of 17% to 19%.

Its long-term margin objective stands at 20%, according to a Porsche statement.

Porsche shareholders will be paid an annual dividend of EUR 1 per ordinary share and EUR 1.01 per preferred share, the company said.

According to Porsche’s Chief Financial Officer Lutz Meschke, the medium-term objective is to distribute about half of after-tax earnings in dividends.

The auto maker listed on the stock market on September 29th 2022, but Volkswagen AG still owns 75% minus one ordinary share of its total equity capital.

The shares of Porsche AG (P911) were last losing 2.45% (EUR 2.80) on Monday to trade at EUR 111.30 on Xetra.

The auto maker’s total market cap now stands at EUR 110.925 billion.

The shares of Porsche AG have risen 34.91% since opening at EUR 82.50 in late September.