Porsche Ag · XETR:P911
Porsche — Dr. Ing. h.c. F. Porsche — Q1 2025 Earnings Presentation
23 slides from Porsche's earnings presentation, Apr 29, 2025
Slide 1: Press & Analyst Call Q1 2025
PORSCHE Press & Analyst Call Q1 2025 STUT TGART, APRI L 2 9 DR. ING. H.C. F. PORSCHE AG 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and prove to be incorrect, the actual results may be materially information that reflect Dr. Ing. h.c. F. Porsche AG's current views different from those Porsche AG expresses or implies by such about future events. These statements are
Slide 3: Porsche AG – Strong Top Line and Solid Performance
Porsche AG – Strong Top Line and Solid Performance DESPITE CHALLENGING CONDITIONS AND ELE VATED SPENDING TOPIC MES SAGE Q1 2025 Porsche kept resolutely pushing ahead with its extensive strategic rescaling and recalibration measures. GROUP Q1 2025 The business performance continued to be impacted by
Slide 4: Group and Automotive
Group and Automotive FINANCIAL PERFORMANCE OVERVIE W Q1 2025 GROUP SALES RE VENUE GROUP RE TURN ON SALES GROUP OPER ATING PROFIT 1 (-1.7 % compared to previous year) (-560 bps compared to previous year) (-40.6 % compared to previous year) AUTOMOTIVE EBITDA MARGIN AUTOMOTIVE NE T CASH FLOW MARGIN BE
Slide 5: Group and Automotive
Group and Automotive FINANCIAL PERFORMANCE OVERVIE W Q1 2025 AUTOMOTIVE OPER ATING PROFIT AUTOMOTIVE NE T LIQUIDIT Y (Automotive RoS 8.7 %) (+1.3 % compared to 31.12.2024) AUTOMOTIVE RESE ARCH AUTOMOTIVE AND DE VELOPEMENT COSTS CAPITAL E XPENDITURE (8.5 % of Automotive Sales Revenue) (7.1 % of Autom
Slide 6: Group – Sales Revenue and Operating Profit
Group – Sales Revenue and Operating Profit Q1 2024 VS. Q1 2025 GROUP SALES GROUP OPER ATING Business performance continued to RE VENUE , IN € BN PROFIT, IN € BN be impacted by the ongoing economic and geopolitical -1.7 % -40.6 % challenges 1.3 At the same time Porsche resolutely 9.0 8.9 kept pushing
Slide 7: Group – Operating Profit Development
Group – Operating Profit Development Q1 2024 VS. Q1 2025 CONTRIBUTOR S TO OPER ATING PROFIT DE VELOPMENT, IN € BN Group Sales Revenues impacted by lower unit sales – global sales are -40.6 % more balanced Positive impact from pricing and 1.28 individualisation -0.39 Higher material costs also due to
Slide 8: Automotive – Sales Revenue and Deliveries
Automotive – Sales Revenue and Deliveries Q1 2024 VS. Q1 2025 AUTOMOTIVE SALES DELIVERIES, REVENUE, IN € BN IN K UNITS Lower unit sales with focus on globally balanced sales -4.0 % -7.9 % Limited model availability in Europe 8.1 because of cybersecurity regulations 7.8 77.6 71.5 Continued tense econ
Slide 9: Automotive – Deliveries
Automotive – Deliveries Q1 2024 VS. Q1 2025 REGIONAL DISTRIBUTION Y TD Q1 2024 Y TD Q1 2025 Sales structure across the global regions has become more balanced Deliveries increase in Overseas and Overseas and Emerging Markets Germany Overseas and Germany Emerging Markets Emerging Markets North Americ
Slide 10: Automotive – Deliveries
Automotive – Deliveries Q1 2024 VS. Q1 2025 MODEL DISTRIBUTION, IN UNITS One in four Porsche cars delivered is YTD Q1-25 [14.185] [9.370] 23.555 YTD Q1-24 20.576 +14 % fully electric Cayenne decline due to a catch-up YTD Q1-25 20.055 YTD Q1-24 28.025 -28 % effect in the same period last year 11.390
Slide 11: Automotive – Deep Dive on Vehicle Sales
Automotive – Deep Dive on Vehicle Sales Q1 2024 VS. Q1 2025 REGIONAL DISTRIBUTION, % OF VEHICLE SALES Strong growth in North America Vehicle sales 70.605 partly due to customs-related 64.693 14 % delays in the prior-year period Germany 10 % China continues to reflect the 18 % North America2 28 % cha
Slide 12: Automotive – Operating Profit
Automotive – Operating Profit Q1 2024 VS. Q1 2025, IN € BN -43.8 % 1.2 Automotive Sales Revenues 0.7 impacted by lower product availability in Europe and value-over- volume strategy in China Positive impact from pricing and beneficial individualisation Increased expensed R&D based on Q1 2024 Q1 2025
Slide 13: Financial Services – Operating Profit
Financial Services – Operating Profit Q1 2024 VS. Q1 2025, IN € BN +14.2 % Higher penetration in most markets, 0.07 especially in China due to offering 0.06 attractive sales campaigns and establishing a new banking partner Unchanged robust risk profile Higher operating profit due to the replacement
Slide 14: Automotive – Net Cash Flow and Liquidity
Automotive – Net Cash Flow and Liquidity Q1 2024 VS. Q1 2025 N E T CASH FLO W, N E T L I Q U I D I T Y, IN € BN IN € BN Lower cash flow from operating business +84.9 % +1.3 % Lower capitalized R&D expenses 8.6 8.7 0.2 Continued high spending on the development of our brand as well as 0.1 ecosystem,
Slide 15: Adjusted Porsche Financial Outlook
Adjusted Porsche Financial Outlook MOST IMPORTANT PERFORMANCE INDICATORS 2024 PREVIOUS ADJUSTED OUTLOOK 2025 OUTLOOK 2025 Sales Revenue € 40.1 bn € 39 - 40 bn € 37 - 38 bn GROUP Return on Sales (RoS) 14.1 % 10 - 12 % 6.5 - 8.5 % EBITDA Margin 22.7 % 19 - 21 % 16.5 – 18.5 % AUTOMOTIVE Net Cash Flow M
Slide 16: Adjusted Porsche Financial Outlook
Adjusted Porsche Financial Outlook GROUP RE TURN ON SALES ( ROS) CONTRIBUTOR S TO GROUP RE TURN ON SALES 2025 OUTLOOK DE VELOPMENT (ILLUSTR ATIVE ) Strategic recalibration of battery activities due to slower ramp-up of electromobility – special expenses in the financial year 2025 will increase from
Slide 17: Capital Allocation Policy
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 defi
Slide 18: Group – Condensed Consolidated Income Statement
Group – Condensed Consolidated Income Statement IN € MN Q1 2024 % Q1 2025 % DELTA % SALES REVENUE 9,011 100.0 8,858 100.0 -153 -1.7 (-) Cost of sales -6,694 -74.3 -6,996 -79.0 -302 4.5 (=) Gross profit 2,317 25.7 1,862 21.0 -455 -19.6 (-) Distribution expenses -657 -7.3 -629 -7.1 28 -4.3 (-) Adminis
Slide 19: Automotive – Research & Development
Automotive – Research & Development IN € MN Q1 2024 Q1 2025 Automotive research and development costs 1,092 662 % of Automotive Sales Revenue 13.4 % 8.5 % Expensed Automotive research and development costs (A) 295 344 % Automotive research and development costs 27.0 % 52.0 % Automotive capitalized d
Slide 20: Group – Condensed Consolidated Statement of Financial Position
Group – Condensed Consolidated Statement of Financial Position IN € MN 31.03.2025 31.12.2024 DELTA % Intangible assets 8,937 8,941 -3 0.0 Property, plant and equipment 9,852 10,048 -197 -2.0 Leased assets 5,418 5,393 25 0.5 Financial services receivables 5,040 5,078 -38 -0.8 Equity-accounted investm
Slide 21: Group – Condensed Consolidated Statement of Financial Position
Group – Condensed Consolidated Statement of Financial Position IN € MN 31.03.2025 31.12.2024 DELTA % Equity before non-controlling interests 24,129 23,043 1,086 4.7 Non-controlling interests 13 13 1 6.2 Equity 24,142 23,056 1,087 4.7 Provisions for pensions and similar obligations 3,790 4,074 -284 -
Slide 22: Financial Calendar 2025
Financial Calendar 2025 MAY 21, 2025 Annual General Meeting 2025 JULY 30, 2025 Half-Yearly Financial Report 2025 OCTOBER 24, 2025 Quarterly Report January - September 2025 22
Slide 23: Execution: where the rubber meets the road
_. ,EXECUTIONISWHERE | THE RUBBER-MEETQ THE ROAD.» ele
Dr. Ing. h.c. F. Porsche — Q1 2025 Earnings Presentation on 6ix