Porsche reported a 27% increase in annual operating profit to $7.2bn (EUR6.8bn) in 2022, up from EUR1.5bn in the previous year, as deliveries rose by 2.6% to 309,884 units. The automaker’s revenue surged to EUR37.6bn, a 13.6% increase from EUR33.1bn.
Porsche’s board proposed a dividend of EUR911m following its initial public offering (IPO) last September. The company is focused on its strategy of modern luxury in 2023 and has started its ambitious Road to 20 programme to achieve its long-term profit goal. Porsche plans to revamp its product range, pricing and cost structure, and is setting up a new Car-IT department. The luxury automaker aims to deliver over 80% of its new vehicles as all-electric models by 2030, with an all-electric Macan expected to hit the market by 2024, an electric 718 in the middle of the decade, and an all-electric Cayenne planned. The company is also planning to expand its product portfolio upwards with an all-electric SUV positioned above the Cayenne.