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Porsche (P911) investor relations material
Porsche Pre-Close Call summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Global deliveries reached 279,400 vehicles, with electrified models accounting for 34% of total deliveries, up 7 percentage points year-over-year.
North America remained the largest market, with 86,229 deliveries, while China saw softness due to luxury segment headwinds and BEV competition.
Strategic realignment decisions in Q3 will result in €3.1 billion in extraordinary expenses for 2025, supporting long-term flexibility and competitiveness.
Guidance for 2025 remains firm, with group revenues expected at the lower end of €37–38 billion and operating return on sales of 0–2%.
Trading performance and revenue trends
Electrified models exceeded combustion-only deliveries in Europe for the first time, reaching a 58% electrification share.
Macan sales increased by 2% in 2025, making it the bestselling model line despite availability gaps; over half of Macan deliveries were all-electric.
911 model achieved a record high of 52,000 units, with sales growing by 1%.
718 and Panamera deliveries declined due to limited model availability and regulatory impacts.
Wholesales in Q4 are expected to align with retail volumes, reflecting a disciplined value-driven sales strategy.
Profitability and margins
Group operating return on sales for 2025 is guided at slightly positive to 2%, with a net cash flow margin of 3–5%.
Q4 standalone expects extraordinary expenses of €400 million for realignment and €200 million for U.S. tariffs.
2026 margin targeted at a high single-digit level, above mid-one digit and well below double digit, assuming current tariff regime.
Approximately €3.1 billion in extraordinary expenses expected for 2025, related to strategic realignment, product strategy adjustments, battery initiatives, and organizational transformation.
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Frequently asked questions
Pushing Boundaries and Defining Automotive Luxury
Porsche AG is a renowned luxury automotive manufacturer that specializes in high-performance sports cars, SUVs, and sedans. The company's menu of vehicles features a range of meticulously crafted models, known for their powerful engines, exceptional handling, and timeless design. Porsche's menu includes iconic sports cars like the 911, the Cayman, and the Boxster, as well as SUVs like the Macan and the Cayenne. These vehicles embody the spirit of driving pleasure and exhilaration, attracting discerning customers who appreciate the combination of performance, craftsmanship, and prestige.
Automotive and Financial Services
Porsche operates through two main business segments: Automotive and Financial Services. The Automotive segment involves the design, development, production, and sales of Porsche vehicles worldwide. The Financial Services segment provides financing, leasing, insurance, and mobility services tailored to meet the needs of Porsche customers.
Excellence, quality, and exclusivity
Porsche follows a distinctive business model that centers around engineering excellence, premium quality, and exclusivity. The company's vehicles are meticulously handcrafted, incorporating advanced technologies and luxurious materials. Porsche's commitment to precision and performance has made it a symbol of automotive excellence.
Further reading: The Porsche Family's Race to the Top
Porsche AG has a rich heritage that dates back to 1948 when the first Porsche sports car, the 356, was introduced. Since then, the company has built a reputation for pushing the boundaries of automotive engineering and design, consistently delivering vehicles that combine power, elegance, and innovation.
In addition to its automotive expertise, Porsche has diversified its portfolio to include luxury lifestyle products and experiences. The company offers branded accessories, clothing, and merchandise, allowing enthusiasts to embrace the Porsche lifestyle beyond the realm of automotive ownership.
Within the luxury automotive industry, Porsche AG has notable peers, including: Ferrari, Aston Martin Lagonda, and BMW.
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