Porsche Ag · XETR:P911
Porsche — Investor Day (July 2022)
180 slides from Porsche's investor day presentation, July 2022
Slide 1: The brand for those who follow their dreams
The brand for those who follow their dreams
Slide 2: Agenda
Agenda Presenter Time Opening remarks B. Scheib 13:00-13:05 Design philosophy M. Mauer 13:05-13:25 Porsche. Modern luxury. O. Blume 13:25-13:55 Structural growth L. Meschke 13:55-14:15 Performance driven business 01 Iconic brand & heritage O. Blume 14:15-14:35 02 Product portfolio O. Blume 14:35-14:
Slide 3: Disclaimer
Disclaimer In this presentation (together with any additional or supplementary materials, the “Presentation”) the “Company” or “Porsche AG” means Dr. Ing. h.c. F. Porsche Aktiengesellschaft and the “Group” means Porsche AG together with its consolidated subsidiaries. This Presentation has been prepa
Slide 4: Executive Board Capital Markets Day 2022
Executive Board CAPITAL MARKETS DAY 2022 PORSCHE 4
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Slide 6: Design Brand Product
experience DESIGN perception BRAND PRODUCT storytelling 6
Slide 7: Model range fuel consumption note
Model range 718: Fuel consumption combined: 12.3 – 8.1 l/100 km (NEDC); 13.2–8.9 l/100 km (WLTP); CO2 emissions combined: 281 - 185 g/km (NEDC); 299–201 g/km (WLTP); Status 07/2022 7
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Slide 12: C. G. Jung 1935
C. G. Jung 1935 12
Slide 13: Design philosophy
CONSEQUENT PRECISION DESIGN CONCENTRATION PHILOSOPHY UNAMBIGUOUS REDUCTION LUCIDITY SIM PLICITY 1. 2. 3. 4. ASSIGN GIVE THEM DEFINE TRANSLATE INTO GENERIC ARCHETYPE A FACE KEY WORDS DESIGN 13
Slide 14: Creator Rebel Hero
CREATOR REBEL HERO PROGRESS PERSONALITY SUCCESS
Slide 15: Creator Rebel Hero
CREATOR REBEL HERO PROGRESS PERSONALITY SUCCESS C ON S I STEN T HONEST LASTING INNOVATIVE MUSCLE NONCONFORMITY FOCUS PURPOSE OPPOSITES PRECISION UNAMBIGUOUS T HOUG HTF UL EXCITING ASSESSABLE CONSISTENT REDUCTION CONCENTRATION TENSION ENERGY CONSEQUENT TRUSTWORTHY SIMPLICITY CLEVER THOUGHTFUL UNCONVE
Slide 16: Creator Rebel Hero
CREATOR REBEL HERO PROGRESS PERSONALITY SUCCESS C ON S I STEN T HONEST LASTING INNOVATIVE MUSCLE NONCONFORMITY OPPOSITES PRECISION UNAMBIGUOUS T HOUG HTF UL EXCITING ASSESSABLE CONSISTENT REDUCTION CONCENTRATION ENERGY CONSEQUENT TRUSTWORTHY SIMPLICITY CLEVER THOUGHTFUL UNCONVENTIONAL LUCIDITY BRAVE
Slide 17: Exterior Interior User
DX USER EXTERIOR INTERIEUR EXPERIENCE AERODYNAMIC SHAPES AND THE PERFECT FIT PURPOSEFUL INTERACTIONS ADAPTIVE AERODYNAMICS Taycan: Electrical consumption combined: 27.0–26.4 kWh/100 km (NEDC); 23.9–19.6 kWh/100 km (WLTP); CO2 emissions combined: 0 g/km (NEDC); 0 g/km (WLTP); Electric range: 371–505
Slide 18: Exterior Interior User
USER EXTERIOR INTERIEUR EXPERIENCE HIGH DENSITY SURFACING BALANCE BETWEEN BALANCE BETWEEN ANALOG AND DIGITAL ANALOG AND DIGITAL 18
Slide 19: Exterior Interior User
USER EXTERIOR INTERIEUR EXPERIENCE EXPRESSION AND GRAPHIC DRIVER FOCUS DRIVER FOCUS 19
Slide 20: 911 Carrera consumption note
911 Carrera: Fuel consumption combined: 9.4 l/100 km (NEDC); 10.8–10.3 l/100 km (WLTP); CO2 emissions combined: 215 g/km (NEDC); 245–233 g/km (WLTP); Status 07/2022 20
Slide 21: High Density Surfacing
PRECISSION & MODERNITY SENSUAL SCULPTURE BOLDNESS High Density Surfacing 21
Slide 22: Aerosthetics
BALANCE ORIENTATED HIGH COMPLEXITY Aerosthetics SUV SEGMENT SPORTSCARS FAST DRS Panamera Turbo S: Fuel consumption combined: 10.8 – 10.7 l/100 km (NEDC); 13.2–12.8 l/100 km (WLTP); CO2 emissions combined: 247 – 245 g/km (NEDC); 298–290 g/km (WLTP); Status 07/2022 22
Slide 23: Driver Focus
OPTIMAL DRIVER SUPPORT UNDISTRACTED DRIVING Driver Focus CURVED INSTRUMENT CLUSTER ANALOGUE REV METER 911 Carrera 4S: Fuel consumption combined: 10.1 – 9.7 l/100 km (NEDC); 11.1–10.2 l/100 km (WLTP); CO2 emissions combined: 231 – 222 g/km (NEDC); 253–231 g/km (WLTP); Status 07/2022 23
Slide 24: Personalization
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Slide 25: 360° Customer Experience
PRODUCT DESIGN Production Vehicles Show Cars Vision Cars BRAND ELEMENTS & CORPORATE DESIGN SENSUAL Voice, Sound, DIGITAL DESIGN, Scent, Material INTERACTION & 360° CUSTOMER MOTION EXPERIENCE EXPERIENCES & MISSION, VISION, VALUES CONTENT & ARCHITECTURE COMMUNICATION POS, FAIRS, EVENTS COOPERATIONS, B
Slide 26: Taycan Turbo Cross Turismo consumption note
Taycan Turbo Cross Turismo: Electrical consumption combined: 26.5 kWh/100 km (NEDC); 24.2–21.2 kWh/100 km (WLTP); CO2 emissions combined: 0 g/km (NEDC); 0 g/km (WLTP); Electric range: 423–485 km; Electric range City: 533–616 km; Status 07/2022 26
Slide 27: Porsche. Modern Luxury.
PORSCHE. MODERN LUXURY. “For those who follow their dreams”
Slide 28: In the beginning I could not find the car I dreamed of
In the beginning I looked around and could not find the car I dreamed of. So I decided to build it myself. – Ferry Porsche PORSCHE. MODERN LUXURY. 28
Slide 29: The brand for those who follow their dreams
“The brand for those who follow their dreams” PORSCHE. MODERN LUXURY. 29
Slide 30: Porsche – a unique story
Porsche – a unique story Iconic Structural Sustainable Stellar brand growth luxury performance PORSCHE. MODERN LUXURY. 30
Slide 31: Successful track record of product launches
Successful track record of product launches Deliveries1, in k cars 302 112 1964 1996 2002 2009 2014 2019 2021 Midterm ambition 1 Total Porsche Deliveries in respective year | 2 Estimated total vehicle production in calendar year 1964 PORSCHE. MODERN LUXURY. 31
Slide 32: High end portfolio extension
High end portfolio extension Sports cars1 Sports limousines Sport NEW Utility Vehicles Note: Illustrative | 1 2-door sports car PORSCHE. MODERN LUXURY. 32
Slide 33: 80+% BEV share ambition in 2030
80+ % BEV share ambition in 2030 Share of Deliveries p.a., in % 80+ % 50+ %1 BEV PHEV 2020 2025 2030 Note: Illustrative, use of silhouettes not indicative of cycle plan | 1 Including PHEV and BEV PORSCHE. MODERN LUXURY. 3333
Slide 34: Working towards a net carbon neutral value chain in 2030
Working towards a net carbon neutral value chain in 20301 Decarbonizing Zero-impact Net carbon neutral supply chain2 factory vision2 use-phase3 1 Scope 1, 2 & 3 emissions as defined per Greenhouse Gas Protocol. Net carbon neutrality across the value chain describes Porsche’s ambition to avoid and re
Slide 35: Porsche differentiation
Porsche differentiation Design Quality Driver experience Performance Fast travelling Sustainability Taycan 4S: Electrical consumption combined in kWh/100 km: 27.4 – 20.4 (WLTP), 26.1 – 25.7 (NEDC); Range combined: 358–497 km (WLTP), Range City: 449–603 km (WLTP); CO2 emissions combined in: 0 g/km (W
Slide 36: Appealing end market segment exposure
Appealing end market segment exposure Bugatti Rolls-Royce 100 % 100 % McLaren Ferrari Bentley Lamborghini Luxury Aston Martin Maserati Luxury brand2 Sports car2 BMW Volvo Premium 57 % 80+ % Mercedes-Benz1 Tesla Audi Lexus SUV Deliveries3 BEV share ambition Volume in 2030 Note: Luxury, premium, volum
Slide 37: Unique position in luxury automotive segment
Unique position in luxury automotive segment Automotive revenue per car1, in € k2 Niche luxury3 300 Luxury 100 Premium4 50 10 300 1,000 Deliveries, in k cars2 1 Ratio Automotive Revenue to Deliveries for Porsche, for other OEMs ratio of automotive revenue to deliveries (as such terms are defined in
Slide 38: Stellar financial performance
Stellar financial performance Key facts, 2021 302 k 9.0 % 16.0 % Deliveries Group Revenue1 CAGR 2017-21 Return on sales (RoS)2,7 13.7 % BEV share € 33.1 bn Group Revenue € 5.3 bn Group Operating profit € 3.7bn 21.3 % 24.5 % Automotive Automotive Automotive EBITDA margin5 net cash flow3,7 return on i
Slide 39: Result – Porsche's unique economic model
Result – Porsche’s unique economic model Key facts, 2021 € 100 k Automotive revenue per car1 24.5 % more than 2x premium OEMs2 Automotive EBITDA margin3 Lean cost structure & scale Significant BEV-focused 10+ % Automotive net cash flow margin3 investments made 1 Ratio Automotive Revenue to Deliverie
Slide 40: Increased independence and entrepreneurial freedom
Increased independence and entrepreneurial freedom Independence Accountability Entrepreneurship Planned termination of Responsibility & decisions by Executive Board decides domination agreement Porsche AG Executive Board autonomously1 1 Porsche AG subject to customary corporate governance approval r
Slide 41: Porsche – unleashing the full potential
Porsche – unleashing the full potential Iconic brand and heritage Structural growth Electrification, technology and sustainability Luxury with scale benefits Increased corporate independence Stellar financial performance PORSCHE. MODERN LUXURY. 41
Slide 42: Structural Growth
STRUCTURAL GROWTH ‘‘Driving the new luxury paradigm”
Slide 43: Attractive market fundamentals
Attractive market fundamentals Expected global Evolving luxury Growing sports car, rise in HNWI1 paradigm SUV, BEV segments Model range Taycan Sport Turismo: Electrical consumption combined: 24.6 – 20.2 kWh/100km (WLTP), 27.4 – 26.3 kWh/100km (NEDC); Range combined: 358 - 491 km (WLTP), Range City:
Slide 44: Attractive luxury market dynamics expected
Attractive luxury market dynamics expected HNWI population, in mn1 CAGR 9% CAGR 106.3 10 % Growing base of potential customers 69.8 Rising relevance of millennials 43.1 Growing share of women 2016 2021 2026E 1 As per Knight Frank ‘The Wealth Report 2022’, January 2022 STRUCTURAL GROWTH 44
Slide 45: Balanced luxury customer growth
Balanced luxury customer growth HNWI populations, expected 2021-2026 CAGRs1, in % Porsche split by 8% 13 %4 Deliveries, 2021 EUROPE 9 13 %2 Rest of World 32 %4 China % 3 CHINA 7 %5 NORTH AMERICA 26 %3 29 % REST OF North America Europe WORLD 1 As per Knight Frank ‘The Wealth Report 2022‘, January 202
Slide 46: Evolving luxury paradigm
Evolving luxury paradigm Next Gen ~50 % ~84 % 70+ % Rising Customers prefer Chinese buyers Customers would relevance1 SUV as next purchase2,3 value personalization2,4 switch to EV2,5 1 Company view | 2 As per McKinsey & Company “Five trends shaping tomorrow’s luxury-car market”, July 2022 | 3 Around
Slide 47: Luxury car segment to drive automotive market growth
Luxury car segment to drive automotive market growth Global luxury car market segments, 2021, and CAGR 2021-31E1 Sizeable automotive luxury $ 500+ k 14+ % market segment Luxury $ 300 k - 500 k 9+ % Seamless experiences required 2-3% $ 150 k - 299 k 10+ % Omnichannel touch points $ 80 k - 149 k 8+ %
Slide 48: BEV adoption one key theme of luxury car market segment
BEV adoption one key theme of luxury car market segment Adoption of all electric luxury vehicles by cost bracket (base scenario)1,2 Market segment: $ 80 k - 149 k 40-50 % 20-25 % ~4 % Shifting consumer sentiment1 2021 2026E 2031E SUV expected #1 luxury BEV market1 Market segment: $ 150 k - 299 k 45-
Slide 49: Expected growth in Porsche market segments
Expected growth in Porsche market segments Luxury sports car1 Luxury SUV2 BEV3 7 % CAGR4 6 % CAGR4 34 % CAGR4 1 As per S&P Global Mobility Light Vehicle Powertrain and Alternative Propulsion Production Forecast for luxury 2-door sports cars, April 2022 Release | 2 As per S&P Global Mobility Light Ve
Slide 50: Next generation of luxury buyers offers upside potential
Next generation of luxury buyers offers upside potential DRIVEN DRIVEN CREATIVE PROGRESSIVE YOUTH WOMEN LEADERS YOUNGSTERS Setting trends and High achievers Thought leaders Gen Z in China making the world a looking for looking for looking for personal better place luxury experiences powerful stories
Slide 51: Attractive growth fundamentals
Attractive growth fundamentals Expected rise in HNWIs across regions Evolving luxury paradigm Sizeable luxury automotive segment Strong growth expected in sports car, SUV and BEV segments Porsche at the sweet spot STRUCTURAL GROWTH 51
Slide 52: Iconic Brand and Heritage
ICONIC BRAND 01 AND HERITAGE “Porsche. Driven by dreams.”
Slide 53: Dreams for generations
Dreams for generations Iconic Racing Community design heritage feeling ICONIC BRAND AND HERITAGE 53
Slide 54: Unique brand
Unique brand Rich Current line-up Halo for heritage with a cultural icon the future 911 Sport Classic: Fuel consumption combined in l/100 km: 12.6 l/100km (WLTP), 12.8 l/100km (NEDC); CO2 emissions combined: 285 g/km (WLTP), 292 g/km (NEDC) ICONIC BRAND AND HERITAGE 54
Slide 55: Porsche's capability to reconcile contradictions
Porsche’s capability to reconcile contradictions Pioneering spirit Exclusiveness Design Performance & tradition & likeability & function & sustainability ICONIC BRAND AND HERITAGE 55
Slide 56: Unique design language
Unique design language BRAND IDENTITY PRODUCT IDENTITY RECOGNIZING, THAT RECOGNIZING, WHICH IT IS A PORSCHE PORSCHE IT IS ICONIC BRAND AND HERITAGE 56
Slide 57: Motorsport is part of our DNA since 1951
Motorsport is part of our DNA since 1951 19 110 Success Overall victories Class victories Formula 1, Rallye in Le Mans in Le Mans Monte Carlo, Daytona … ICONIC BRAND AND HERITAGE 57
Slide 58: Motorsport fuels the Porsche myth
Motorsport fuels the Porsche myth Formula E, WEC1 99X Electric, LMDh Motorsport represents… GT-Sport Aspiration 911 RSR, 911 GT3 R Brand trophy Innovation 911 GT3 Cup Club sports Emotion 911 GT2 RS CS 718 GT 4 RS CS Dreams Sports events Porsche series-production vehicle 1 World Endurance Championshi
Slide 59: Porsche Museum - heritage inspiring future generations
Porsche Museum - heritage inspiring future generations 5+ mn ~100 80+ % Visitors since Heritage- Of museum cars opening in 2009 celebrating cars1 ready for driving2 1 Number of cars and exhibits in the Porsche Museum as of June 2022 | 2 Share of cars in the museum collection which are in a condition
Slide 60: An endless reservoir of inspiring, rebellious stories
An endless reservoir of inspiring, rebellious stories 1 1 Translation: “No one needs it. Everyone wants it.” ICONIC BRAND AND HERITAGE 60
Slide 61: Customers as part of a vibrant community
Customers as part of a vibrant community Family Community Creating spirit power experiences ICONIC BRAND AND HERITAGE 61
Slide 62: Brand collaborations
Brand collaborations Luxury UHNWI1 Surprising and lifestyle relevance cross-category 911 Turbo S: Fuel consumption combined: 12.3 – 12.0 l/100km (WLTP), 11.1 l/100km (NEDC); CO2 emissions combined : 278 – 271 g/km (WLTP), 254 g/km (NEDC) | 1 Ultra high net worth individuals (US$ 30+ m liquid assets)
Slide 63: #1 brand power
#1 brand power Brand Finance 2021 ranking, in US$ bn1 A leading luxury brand Forged through heritage Strong growth of brand value2 #1 reason to buy a Porsche3 Luxury Luxury Luxury Luxury Luxury Luxury Luxury Luxury Luxury Foundation of future growth player player player player player player player p
Slide 64: Iconic brand and heritage
Iconic brand and heritage Dream for multiple generations Unique design language Motorsport as part of our DNA Power of community at the core Brand collaborations One of the most valuable luxury brands ICONIC BRAND AND HERITAGE 64
Slide 65: Product Portfolio
PRODUCT PORTFOLIO 02 “Crafting dream cars – in the past, present and future”
Slide 66: Differentiated Porsche portfolio
Differentiated Porsche portfolio Product Portfolio Customization and philosophy extension exclusivity PRODUCT PORTFOLIO 66
Slide 67: Porsche product philosophy
Porsche product philosophy Agility Passion Family Pioneering Spirit Performance Heritage Core Future PRODUCT PORTFOLIO 67
Slide 68: Clear product positioning
Clear product positioning Sports cars1 Sports limousines Sport Utility Vehicles Icon Elegance Prestige NEW Performance Functionality Driving Fun Lifestyle 1 2-door sports cars PRODUCT PORTFOLIO 68
Slide 69: 911 – Icon
911 – Icon Icon 23+ models Customers’ dream Successful Coupé, Cabriolet, Targa Total Deliveries in its 8th generation From Carrera to Turbo S and GT3 of 1+ mn since 1964 Model range 911: Fuel consumption combined: 13.0 – 10.8 l/100km (WLTP), 13.3 - 8.7 l/100km (NEDC); CO2 emissions combined: 294 - 2
Slide 70: Taycan – Performance Pioneer
Taycan – Performance Pioneer1 14+ models Strong start Highly successful first Sports limousine, Cross/Sport Turismo Successful ramp-up Luxury BEV sports car From Taycan to Turbo S after launch Model range Taycan: Electrical consumption combined: 24.8 – 19.6 kWh/100 km (WLTP), 27.4 – 25.4 kWh/100 km
Slide 71: NEW – Prestige
NEW – Prestige PRODUCT PORTFOLIO 71
Slide 72: Exclusive Manufaktur – most personal car
Exclusive Manufaktur – most personal car Passion Personality Exclusivity PRODUCT PORTFOLIO 72
Slide 73: From the racetrack to the road – GT models
From the racetrack to the road – GT models Technology Strong market Pricing transfer position premium 911 GT3: Fuel consumption combined: 13.0 – 12.9 l/100 km (WLTP), 13.3 – 12.4 l/100 km (NEDC); CO2 emissions combined in: 294 - 293 g/km (WLTP), 304 - 283 g/km (NEDC) PRODUCT PORTFOLIO 73
Slide 74: Motorsport offering for Porsche enthusiasts
Motorsport offering for Porsche enthusiasts 1970 6.5 k1 € 200+ k First Porsche Cup Manufactured Average revenue per award race cars race car sale2 1 Cumulative total race cars as of Jun-2022 I 2 Based on 2021 financial information PRODUCT PORTFOLIO 74
Slide 75: Fulfilling dreams through limited editions
Fulfilling dreams through limited editions Year / Model1 Limited units Base Price2 2022 911 Sport Classic 1,250 € 276 k 2021 911 Targa 4 GTS 50 Years Porsche Design 750 € 186 k 2020 911 Targa 4S Heritage Design 992 € 183 k 2019 911 Speedster 1,948 € 269 k 2017 911 Turbo S Exclusive series 500 € 260
Slide 76: One of a kind – Barilla GT3
One of a kind – Barilla GT3 In the Eighties, I had the chance to drive the wonderful Porsche 956, an iconic car in terms of performance and beauty. The interpretation of some elements in a modern GT3 makes that memory exciting and vital – for me and for people who are close to me. Paolo Barilla Indi
Slide 77: Historic Revenue per car growth with further potential
Historic Revenue per car growth with further potential Automotive Revenue per car, in € k 4 % CAGR Further upside potential 93 100 Pricing strategy Further growth from customization Expansion into higher margin segments 2019 2021 BEV pricing opportunity 911 Turbo S: Fuel consumption combined in l/10
Slide 78: Compelling growth in high-end market segment
Compelling growth in high-end market segment Deliveries of cars with selling price incl. options €/US$ 200+ k, in k cars CAGRs 2019-21, in % +18 % 3.61 2.61 +33 % 0.92 0.52 2019 2021 2019 2021 911 Turbo S: Fuel consumption combined in l/100 km: 12.3 – 12.0 (WLTP), 11.1 (NEDC); CO2 emissions combined
Slide 79: Product portfolio
Product portfolio Porsche philosophy Clear product positioning Customization and Exclusive Manufaktur Motorsport and GT Limited series Pricing strategy PRODUCT PORTFOLIO 79
Slide 80: Customer Experience & Go-to-Market
CUSTOMER EXPERIENCE & GO-TO-MARKET “Creating moments 03 to remember” Model range Taycan Cross Turismo: Electrical consumption combined in kWh/100 km: 24.8 – 21.2 (WLTP), 26.5 – 26.2 (NEDC); Range combined in km: 416 - 490 km (WLTP), Range City in km: 518 – 600 km (WLTP); CO2 emissions combined in g/
Slide 81: Loyal and growing customer base
Loyal and growing customer base ~2.7 mn1 ~€ 320-510 k ~60 % Registered customers Avg. gross income2 Long-term customers3 Taycan Turbo S Cross Turismo: Electrical consumption combined in kWh/100 km: 24.0 – 22.4 (WLTP), 26.5 (NEDC); Range combined in km: 428 - 459 km (WLTP), Range City in km: 519 – 56
Slide 82: Growth through retention, new markets and new customers
Growth through retention, new markets and new customers Retention Global New customers < ~7 % annual overall ~120 markets2 ~60 % Taycan buyers are churn rate1 reached globally first time Porsche customers3 1 Calculated as: number of registered customers at beginning of 2021 which are not registered
Slide 83: Targeting new customer segments
Targeting new customer segments Inspire strategic target groups and build loyalty among existing customers High standard High Driven Driven Creative Progressive Ambitious of living income youth women leaders youngsters Existing target groups New target groups CUSTOMER EXPERIENCE AND GO-TO-MARKET 83
Slide 84: Holistic luxury experience across customer touchpoints
Holistic luxury experience across customer touchpoints Customer-centric Porsche community Brand engagement for omnichannel ecosystem providing unique experiences lifecycle opportunities Model range 911 Cabriolet: Fuel consumption combined in l/100 km: 12.5 – 10.4 (WLTP), 11.3 - 9.6 (NEDC); CO2 emiss
Slide 85: Customer-centric omnichannel ecosystem
Customer-centric omnichannel ecosystem Physical Customers Digital Passionate global Porsche.com & dealer network configurator Destination Porsche Porsche Marketplace Experience Centers Global CRM system My Porsche Portal/App CUSTOMER EXPERIENCE AND GO-TO-MARKET 85
Slide 86: Physical – unique set of integrated luxury touchpoints
Physical – unique set of integrated luxury touchpoints Global network Destination Porsche Experience Centers 900+ Porsche Centers1 600+ projects by 20302 10 locations worldwide3 Taycan Turbo S: Electrical consumption combined in kWh/100 km: 23.4 – 21.9 (WLTP), 26.0 (NEDC); Range combined in km: 440
Slide 87: Digital – extending online sales through Porsche Marketplace
Digital – extending online sales through Porsche Marketplace Porsche.com & Porsche Online configurator Marketplace generated sales 6.8 mn unique visitors1 1.5 mn unique visitors2 Up to 25 % by 20253 1 Jan-May 2022, average individual visitors per month. Whole porsche.com ecosystem incl. Finder, One
Slide 88: Strong engagement of Porsche community
Strong engagement of Porsche community 700+ Porsche 27 mn Instagram 15 platform Clubs1 followers events3 240+ k members4 Top 3 liked car brand on TikTok2 200+ k attendees4 1 As reported by the independently managed Porsche Clubs | 2 Based on a sample of global OEMs, as of June 2022 | 3 “Beyond autom
Slide 89: Exciting customer experiences on the track and on the road
Exciting customer experiences on the track and on the road Pure motorsport passion Driving emotions and travel joy Porsche track and racing experiences Porsche travel experiences Model range 911 Cabriolet: Fuel consumption combined in l/100 km: 12.5 – 10.4 (WLTP), 11.3 - 9.6 (NEDC); CO2 emissions co
Slide 90: Fulfilling customers' personal dreams
Fulfilling customers’ personal dreams Heritage & Co-creation and Exclusive Classic customization Manufaktur ~€ 150 mn Revenue1 Directly work on ~€ 750 mn Revenue1 ~80 Classic Partners2 your dream car 100+ Manufaktur partners2 1 In 2021 | 2 Out of 900+ dealerships in the global network, as of June 20
Slide 91: Customer experience and go-to-market
Customer experience and go-to-market Loyal and growing customer base Targeting new customer segments Omnichannel ecosystem Holistic luxury journey Driving future desirability CUSTOMER EXPERIENCE AND GO-TO-MARKET 91
Slide 92: BEV & Tech Strategy
BEV & TECH 04 STRATEGY “100% electric – 100 % Porsche”
Slide 93: Performance BEV transition leadership
Performance BEV transition leadership Pioneering High-performance Holistic tech vision platforms strategy BEV & TECH STRATEGY 93
Slide 94: 2015 Mission E concept
2015 Mission E concept BEV & TECH STRATEGY 94
Slide 95: 2019 Taycan
2019 Taycan Most 35+ 40+ k ~60 % Innovative car Awards Deliveries First time Porsche globally in 20201 since 2019 in 2021 customers2 Taycan Turbo S: Electrical consumption combined in kWh/100 km: 23.4 – 21.9 (WLTP), 26.0 (NEDC); Range combined in km: 440 – 468 km (WLTP), Range City in km: 524 - 573
Slide 96: Porsche BEV transition model
Porsche BEV transition model Demand coverage with BEV only product offering, in %1 2020 2025E 2030E 50 – 59 % 60 – 69 % 70 – 79 % 80 – 89 % 90 – 99 % 100 % Limited data availability Note: Per Porsche internal estimates, seeks to anticipate Porsche customer preferences by modeling the inflection poin
Slide 97: 80+% BEV share ambition in 2030
80+ % BEV share ambition in 2030 Share of Deliveries p.a., in % 80+ % 50+ %1 BEV PHEV 2020 2025 2030 Note: Illustrative, use of silhouettes not indicative of cycle plan | 1 Including PHEV and BEV BEV & TECH STRATEGY 9797
Slide 98: Delivering technological transition
Delivering technological transition Own Porsche Top technology Volkswagen Group competence partners toolkit access BEV & TECH STRATEGY 98
Slide 99: Long-term platform strategy
Long-term platform strategy Sports Sports Sport Utility cars1 limousines Vehicles Flexibility and control… Two-platform long-term strategy Porsche Sports Car Platform Porsche lead for SSP sport Scalable Systems Platform (SSP) NEW Access to Volkswagen Group sport SSP/backbone Premium Platform Electri
Slide 100: Innovative BEV technologies
Innovative BEV technologies E-motors Batteries Efficiency Charging High-performance direct Battery direct 800 kW1 350 kW/900 volt1 stator oil cooling oil cooling recuperation turbo charging 1 Porsche Mission R (Concept car) BEV & TECH STRATEGY 100
Slide 101: Comprehensive battery strategy
Comprehensive battery strategy High-performance battery Silicon-carbon technology – 240 GWh Volkswagen cells – Porsche owns 73 % Porsche led US$ 400 m Series C Group target capacity1 1 2030 production target capacity of the Volkswagen Group BEV & TECH STRATEGY 101
Slide 102: End-to-end charging ecosystem
End-to-end charging ecosystem Comprehensive HPC strategy Own Porsche Charging 100+ own stations currently in China Up to 100 own stations planned in Europe2 Participation 1,000+ (Ionity) planned stations by 2025 Selected Partnerships … 1,800+ EA1 planned stations by 2026 Public Public charging 275,0
Slide 103: Flexible software strategy
Flexible software strategy E3 1.2 E3 1.2 Evo NEW Synergetic base ADAS Infotainment OS from CARIAD1 and Inclusion of state of Integration of local leveraging partners the art functionalities ecosystems Note: Illustrative 1 A Volkswagen Group company BEV & TECH STRATEGY 103
Slide 104: Driving the transition
Driving the transition Luxury electrification pioneer Customer-backed transition Innovative BEV technologies End-to-end ecosystem Flexible technology strategy BEV & TECH STRATEGY 104
Slide 105: Digitalization & Porsche Ventures
DIGITALIZATION 05 & PORSCHE VENTURES “Providing efficient seamless experience”
Slide 106: Driven by innovation
Driven by innovation Data-driven Digital Innovation customer intimacy touchpoints ecosystem DIGITALIZATION & PORSCHE VENTURES 106
Slide 107: Strong in-house digitalization capabilities
Strong in-house digitalization capabilities Ludwigsburg & Berlin Germany Palo Alto & Atlanta Barcelona Zagreb United States Spain Croatia Beijing & Shanghai Tel Aviv China Israel ~1,000 9 3,000+ Tech experts at Innovation hubs2 MHP3 employees Porsche Group1 worldwide worldwide 1 Includes employees a
Slide 108: Porsche Digital developing smart products and services
Porsche Digital developing smart products and services In the car CHINA TECH STACK CARPLAY PLUS SOUNDTRACK MY LIFE Around the car COMMUNITIES FINDER CHINA MOBILITY SERVICES Around Porsche VINART DESIGN CAR MARQUED DIGITALIZATION & PORSCHE VENTURES 108
Slide 109: AI and data value creation
AI and data value creation ~1.6 mn1 ~€ 2 k2 ~2.7 mn3 Porsche Higher price per Registered customers IDs car in one CRM data pool Drive customer Increase Automotive Customer loyalty Revenue per car targeting Target high churn Personalized configurator Real-time offerings for probability customers reco
Slide 110: Porsche Ventures – investing in an innovation ecosystem
Porsche Ventures – investing in an innovation ecosystem 42 € 1-4 mn High Strat. Impact Current active Typical initial M&A direct investments1 investment range Company Building Structured approach to innovation Low Strat. Impact Gain access to new technologies Fund Value creation by leveraging Porsch
Slide 111: Rimac – from a venture investment to a strategic partner
Rimac – from a venture investment to a strategic partner ~20 % 45 % First investment BEV components Combined € 2+ bn valuation in 2018 partner innovation strength in 20221 1 Rimac Group Press release as of June 1 2022 DIGITALIZATION & PORSCHE VENTURES 111
Slide 112: Digitalization and Porsche Ventures
Digitalization and Porsche Ventures Digital customer experience In-house capabilities Focus on data analytics and AI Porsche Ventures DIGITALIZATION & PORSCHE VENTURES 112
Slide 113: Performance Culture
PERFORMANCE CULTURE 06 “Jointly mastering the transition”
Slide 114: People-centric performance culture striving for perfection
People-centric performance culture striving for perfection Passion Agility One family Pioneering spirit PERFORMANCE CULTURE 114
Slide 115: Passion – continuing to live the Porsche legend
Passion – continuing to live the Porsche legend Enthusiasm “Arbeitswelten“ Engagement Our people are proud Highly attractive 30-year history of employee- to work at Porsche1 work environment induced improvements2 1 Internal survey: ~94% of the participating 16k employees agree that Porsche is an att
Slide 116: Agility – adapting quickly to change
Agility – adapting quickly to change Flexible Proactive Resilient Customer-centric Leading luxury electrification1 Historical financials 1 Taycan as the first commercial production luxury BEV (Source: S&P Global Mobility Light Vehicle Powertrain and Alternative Propulsion Production Forecast, April
Slide 117: One family – values to attract and retain talent
One family – values to attract and retain talent 85+ % Employees recommend Porsche1 Top employer Most attractive German employer2 1 Glassdoor company information, June 2022 | 2 Porsche ranked as the most attractive German employer by Economics, Engineering, and IT graduates according to Universum st
Slide 118: Pioneering spirit – culture drives innovation
Pioneering spirit – culture drives innovation Think outside the box Entrepreneurial mentality Lightweight Turbo-charged Dual clutch Composite Low-friction High- 800 volt composites engine gearbox brakes coatings performance technology HEV PERFORMANCE CULTURE 118
Slide 119: Top performance culture
Top performance culture One Porsche family Passion and enthusiasm – every single day Our people drive innovation from the racetrack to the road Agility and adaptability Home for talent PERFORMANCE CULTURE 119
Slide 120: Sustainability
SUSTAINABILITY “Caring about our 07 customers and planet” Model range Taycan Cross Turismo: Electrical consumption combined in kWh/100 km: 24.8 – 21.2 (WLTP), 26.5 – 26.2 (NEDC); Range combined in km: 416 - 490 km (WLTP), Range City in km: 518 – 600 km (WLTP); CO2 emissions combined in g/km: 0 (WLTP
Slide 121: Pursuing sustainable performance
Pursuing sustainable performance Societal Customer Thinking responsibility driven ahead Model range Taycan Cross Turismo: Electrical consumption combined in kWh/100 km: 24.8 – 21.2 (WLTP), 26.5 – 26.2 (NEDC); Range combined in km: 416 - 490 km (WLTP), Range City in km: 518 – 600 km (WLTP); CO2 emiss
Slide 122: Achievements to date
Achievements to date Among best ESG rated Taycan Award-winning automotive companies1 luxury BEV2 30% Net carbon In main R&D and 20% neutral production sites 3 10% 0% D- D D+ C- C C+ B- B B+ A- A A+ Prime rating 13.7 % BEV share of Deliveries in 2021 1 ISS performance score 2021; rating awarded to Po
Slide 123: Sustainability – strategic pillars
Sustainability – strategic pillars Decarbonization Circular economy Diversity Supply chain Governance & Partner to society responsibility transparency SUSTAINABILITY 123
Slide 124: Working towards a net carbon neutral value chain in 2030
Working towards a net carbon neutral value chain in 20301 Decarbonizing Zero-impact Net carbon neutral supply chain2 factory vision2 use-phase3 1 Scope 1, 2 & 3 emissions as defined per Greenhouse Gas Protocol. Net carbon neutrality across the value chain describes Porsche’s ambition to avoid and re
Slide 125: Strategy towards net carbon neutrality
Strategy towards net carbon neutrality1 Ambition in 2030: Net carbon neutral Decarbonization Portfolio Green electricity Zero-impact Supply chain: Other Decarbonization index index2 (DCI) electrification (BEV use-phase) factory vision energy, processes emissions (t CO2 /vehicle) (t CO2 /vehicle) and
Slide 126: Vision of portfolio electrification and green electricity
1 2 Vision of portfolio electrification and green electricity 50+ % 50+ % 100 % Sustainability among PHEV and BEV Future BEV models net purchase criteria1 ambition in 20252 carbon neutral ambition3 1 In China 70 % and in USA 58 % of respondents perceive sustainability as important when selecting a n
Slide 127: Smart, lean, green: zero-impact factory vision
3 Smart, lean, green: zero-impact factory vision1 -95 % -45 % Environmental impact Environmental points ambition pollution per car in 20302 ambition in 20253 Circularity Biodiversity Air quality 1 Forward-looking vision which relies on assumptions (such as technological advances which have yet to be
Slide 128: Supply chain responsibility
4 Supply chain responsibility Considers circular materials Supplier S-Rating is a key Human rights and and green electricity1 selection criterion2 traceability1,3 1 Circular materials, renewable energy, traceability and human rights are overarching ambitions; upholding human rights is also part of t
Slide 129: Partner to society
Partner to society Fair mining conditions 6,100+ Campaign as a member of Responsible Young adults graduating from Mica Initiative1 vocational education program2 Empowerment Long-lasting impact Quantifiable3 Disadvantaged and Targeted training and Developing transparent underserved populations raisin
Slide 130: Sustainability governance
Sustainability governance Executive Board External council Decision making Dedicated board Providing advice on ESG criteria part of key sponsorship sustainability topics decision processes1 1 For example for investments and product development SUSTAINABILITY 130
Slide 131: Pursuing sustainable performance
Pursuing sustainable performance Societal responsibility beyond customers Comprehensive strategy Measurable targets and track record Ambitious decarbonization roadmap Established sustainability governance SUSTAINABILITY 131
Slide 132: Governance
GOVERNANCE 08 “Unleash full Porsche potential”
Slide 133: Increased independence and entrepreneurial freedom
Increased independence and entrepreneurial freedom Independence Accountability Entrepreneurship Planned termination of Responsibility & decisions by Executive Board decides domination agreement Porsche AG Executive Board autonomously1 1 Porsche AG subject to customary corporate governance approval r
Slide 134: Continued beneficial industrial cooperation
Continued beneficial industrial cooperation Cooperation with Volkswagen Group organized in Industrial Cooperation Agreement allowing for flexibility Differentiating Leveraging Volkswagen Porsche Group ecosystem & scale Luxury & performance experience Standardized technologies Unique & differentiatin
Slide 135: Effective corporate governance
Effective corporate governance Executive Board1 Porsche Executive Board1 Key principles 1 CEO2 Joint entrepreneurial, value oriented 7 members 1 CFO3 & strategic decisions Extensive & complementary expertise 5 board members4 Weekly Board meetings to ensure speed 1 Dual-board structure | 2 Chairman o
Slide 136: Effective corporate governance
Effective corporate governance Planned Supervisory Board Porsche Supervisory Board1 3 Porsche SE representatives (incl. chairman) 20 2 independent representatives 5 Volkswagen Group representatives members 10 employee representatives2 1 As per framework agreement Volkswagen AG/Porsche SE | 2 6 repre
Slide 137: Capital market-oriented management incentivization
Capital market-oriented management incentivization1 Compensation structure Key principles Long-term Fixed Incentivization completely based on PAG performance incentive salary STI based on ROS and ROI (LTI) LTI based on virtual shares (TSR2 approach) ESG targets and Governance as important multiplier
Slide 138: Unlocking Porsche's full potential
Unlocking Porsche’s full potential Increased independence and entrepreneurial freedom Continued beneficial industrial cooperation with Volkswagen Group Effective corporate governance Capital market-oriented management incentivization GOVERNANCE 138
Slide 139: Stellar Financial Performance
STELLAR FINANCIAL PERFORMANCE 09 “Delivering outstanding cars and financials” 911 Sport Classic: Fuel consumption combined in l/100 km: 12.6 (WLTP), 12.8 (NEDC); CO 2 emissions combined in g/km: 285 (WLTP), 292 g/km (NEDC)
Slide 140: Stellar financial proposition
Stellar financial proposition Highly Strong pricing Sustainable Compelling attractive strategy & cash shareholder positioning profitability generation return STELLAR FINANCIAL PERFORMANCE 140
Slide 141: A decade of Revenue growth
A decade of Revenue growth Group Revenue, in € bn 12 % CAGR 33 11 2011 2012 2013 2014 2015 2016 2017 20181 2019 2020 2021 1 IFRS 9 and 15 first applied STELLAR FINANCIAL PERFORMANCE 141
Slide 142: Unique position in luxury automotive segment
Unique position in luxury automotive segment Automotive revenue per car1, in € k2 Niche luxury3 300 Luxury 100 Premium4 50 10 300 1,000 Deliveries, in k cars2 1 Ratio Automotive Revenue to Deliveries for Porsche, for other OEMs ratio of automotive revenue to deliveries (as such terms are defined in
Slide 143: Today – global presence in 120+ markets
Today – global presence in 120+ markets Split by Deliveries, 2021 29 % EUROPE 32 % 26% CHINA NORTH AMERICA 13 % REST OF WORLD STELLAR FINANCIAL PERFORMANCE 143
Slide 144: Growth – across all regions
Growth – across all regions Group Revenue by region, in € bn CAGR 2019-21, in % 8 % CAGR Europe: Mix improvement to PHEV 5% 6% 11 % 11 % North America: Strong Taycan ramp up 1.9 0.7 33.1 China: Strong demand for Panamera 1.0 1.1 RoW: South Korea sales expansion 28.5 Further upside potential Presence
Slide 145: Growth – high quality with further upside
Growth – high quality with further upside Group Revenue development, in € bn 8 % CAGR Controlled growth Taycan roll out 0.7 0.4 33.13 3.5 Customization increase Further upside potential 28.5 Model line extension Automotive segment Pricing and mix 2019 Vehicles Other FS2 2021 BEV transition Business1
Slide 146: Profit – significant expansion
Profit – significant expansion Group Operating profit, in € bn RoS, in % 15.4 % 16.0 % 10 % CAGR 5.3 4.4 20191 2020 2021 1 2019, excl. € 535 mn penalty notice issued by the public prosecutor's office in Stuttgart related to the diesel issue. Other emission-related expenses/income incurred by the Gro
Slide 147: Segments – key facts
Segments – key facts 2021 Porsche 90%1 Porsche Financial 10%1 Automotive Services Revenue € 30.3 bn Revenue € 3.1 bn Operating profit € 5.0 bn Operating profit € 0.3 bn RoS 16.6 % RoS 10.0 % EBITDA margin 24.5 % Penetration rate2 43.0 % Net cash flow margin 12.1 % Return on equity3 21.2 % 1 Breakdow
Slide 148: Automotive – consistent Revenue per car growth
Automotive – consistent Revenue per car growth Automotive Revenue per car1, in € k 4 % CAGR Further upside potential Pricing strategy 100 93 Further growth from customization Expansion into higher margin segments BEV pricing opportunity 2019 2020 2021 1 Automotive Revenue 2019: € 26.1 bn, 2020: € 26
Slide 149: Automotive – components of profit growth
Automotive – components of profit growth Automotive Operating profit, in € bn 9 % CAGR 5.0 Price and volume up despite Covid 4.2 Cost increase driven by Taycan launch Further upside potential 20191 2020 2021 Pricing strategy 16.2 % RoS 16.6 % Model mix improvement 8.1 % D&A2 7.9 % 24.2 % EBITDA marg
Slide 150: Automotive – foundational investments in the past
Automotive – foundational investments in the past Automotive investment1, in € bn Ratio Automotive investment to Automotive Revenue, in % Expensed R&D PP&E capex Capitalised R&D Intangibles capex Well-invested asset base 16.0 % 14.3 % 12.5 % 2019 capex uplift from Taycan launch 4.2 3.7 3.8 Further u
Slide 151: Automotive – invested for the future
Automotive – invested for the future Automotive BEV & PHEV-related investments1,4, in € bn Automotive BEV & PHEV ratio2,4 Mission E concept presented in 20153 ~45 % ~55 % High BEV & PHEV investments made Further upside potential 1.7 1.8 Increased focus on BEV Scale effects from BEV platforms 2019 20
Slide 152: Automotive – significant scale benefits
Automotive – significant scale benefits Total automotive investment1 2019-21, in € bn Average automotive investment per car 2019-21 12 Further upside potential Performance BEV platform strategy 3 Leverage scale of Volkswagen Group Porsche2 Auto luxury player avg.3 € 14 k € 131 k >9 x Note: Auto luxu
Slide 153: Automotive – attractive net cash flow generation
Automotive – attractive net cash flow generation Automotive net cash flow1 2019-21, in € bn As % of Automotive Revenue Further upside potential 5.7 % 8.4 % 12.1 % Profitable earnings growth 3.7 Significant investments made 2.2 1.5 Continued optimization efforts Basis for compelling shareholder retur
Slide 154: Automotive – significant increase in net liquidity
Automotive – significant increase in net liquidity Automotive net liquidity1 2019-21, in € bn Automotive net cash flow 2019-2021: € 7.4 bn2 20.1 (2.7) (9.0) (1.0) 5.0 2.3 (4.7) Automotive net EBITDA4 Cash taxes & Capex & Change in WC, Net Automotive net liquidity financial result Cap. R&D provisions
Slide 155: Result – Porsche's unique economic model
Result – Porsche’s unique economic model Key facts, 2021 € 100 k Automotive revenue per car more 24.5 % than 2x premium OEMs Automotive EBITDA margin Lean cost structure & scale Significant BEV-focused 10+ % Automotive net cash flow margin investments made STELLAR FINANCIAL PERFORMANCE 155
Slide 156: Porsche Financial Services – strong performance
Porsche Financial Services – strong performance Penetration rate1, in % Return on equity2, in % and Operating profit, in € bn and equity3, in € bn 35.3 % 42.2 % 43.0 % 16.7 % 14.7 % 21.2 % 1.6 0.3 1.3 1.3 0.2 0.2 2019 2020 2021 2019 2020 2021 1 Penetration rate means the number of new vehicle contra
Slide 157: Strong resilience
Strong resilience Group RoS, in % 16.1 % Differentiated Porsche model 14.6 % Financially strong customer base 9.7 % Ability to adapt and react quickly Strong supply chain management Structural improvements over time Financial Covid Average Continuous cost optimization crisis ’09 crisis ’20 ‘17-‘211
Slide 158: Strong profit increase in Q1 2022
Strong profit increase in Q1 2022 CAGR, in % Group Revenue, in € bn Group Operating profit, in € bn 4.1 % 17.4 % 7.7 8.0 1.5 1.3 Q1 2021 Q1 2022 Q1 2021 Q1 2022 72.0 68.4 16.2 % 18.2 % Deliveries, in k Group RoS STELLAR FINANCIAL PERFORMANCE 158
Slide 159: Porsche financial outlook
Porsche financial outlook Key Performance Indicators 2021A 2022E Mid-term target Revenue € 33.1 bn ~€ 38-39 bn ~7-8 % CAGR Group RoS 16.0 % ~17-18 % ~17-19 % EBITDA margin 24.5 % ~25-27 % Automotive Net cash flow margin 12.1 % ~12.5-14 % Our long-term ambition 20+ % Group RoS Note: Subject to FX flu
Slide 160: Clear capital allocation policy
Clear capital allocation policy Capex Focused investment program & R&D Ventures Select investments with preference for partnerships Pension Fund the pension deficit in mid-term Liquidity Keep strong Automotive net liquidity position of 15-20 % of Automotive Revenue Dividend Mid-term target: 50 % pay
Slide 161: Stellar financial profile
Stellar financial profile Unique Porsche economic model Long-term growth track record Profit expansion with further potential Strong sustainable Automotive net cash flow Strong momentum, attractive outlook and high resilience STELLAR FINANCIAL PERFORMANCE 161
Slide 162: Strategic Outlook
STRATEGIC OUTLOOK “Past. Present. Future.”
Slide 163: Essence of Porsche
Essence of Porsche Iconic brand and heritage Structural growth Electrification, tech and sustainability Luxury with scale benefits Increased corporate independence Stellar financial performance STRATEGIC OUTLOOK 163
Slide 164: Porsche. Past. Present. Future
Porsche. Past. Present. Future “Luxury Performance BEV” “Brand extension” “911” “Motor sport heritage” 1948 1964 2002 2019 Now and future STRATEGIC OUTLOOK 164
Slide 165: Our focus
Our focus Brand investment & extension Performance oriented growth Net carbon neutral ambition in 2030 Focused investments into BEV & tech New partnerships in tech & luxury STRATEGIC OUTLOOK 165
Slide 166: Our ambitions
Our ambitions Leadership in luxury Stellar financial Substantial performance BEV performance dividend pay-out STRATEGIC OUTLOOK 166
Slide 167: We are excited!
We are excited! STRATEGIC OUTLOOK 167
Slide 168: Porsche
PORSCHE
Slide 169: Group – consolidated income statement
Group – consolidated income statement € mn 2019 2020 2021 Revenue 28,518 28,695 33,138 (-) Cost of sales (21,256) (21,155) 1 (24,281) (=) Gross profit 7,262 7,540 8,857 (-) Distribution expenses (2,044) (1,881) (2,111) (-) Administrative expenses (1,029) (1,255) 1 (1,426) (+) Other operating income
Slide 170: Group – consolidated statement of financial position
Group – consolidated statement of financial position € mn Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Intangible assets 5,085 5,437 6,190 Property, plant and equipment 8,624 8,695 8,763 Leased assets 3,829 3,614 3,954 Equity-accounted investments1 298 167 573 Other equity investments 146 217 313 Finan
Slide 171: Group – consolidated statement of financial position (cont'd)
Group – consolidated statement of financial position (cont’d) Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Subscribed capital 45 45 45 Capital reserves 12,726 13,754 14,225 Retained earnings 4,991 6,302 9,146 Other reserves (339) 118 (489) Equity before non-controlling interests 17,423 20,219 22,927 No
Slide 172: Group – research and development costs
Group – research and development costs € mn 2019 2020 2021 Research and non-capitalized development costs 1,220 1,018 816 Amortization of development costs 923 972 968 Research and development costs recognized in the income 2,143 1,990 1,784 statement Investments in capitalized development costs 949
Slide 173: Automotive cash flow generation
Automotive cash flow generation Net cash flow 2019-21, in € bn 2019 2020 2021 Automotive net liquidity as of Jan. 1 2.3 1.8 3.0 Operating profit1 4.22 4.0 5.0 (+) D&A3 2.1 2.4 2.4 EBITDA 6.32 6.4 7.4 (-) Change in trade working capital4 (0.7) (1.0) (0.0) (+/-) Change in other working capital (includ
Slide 174: Automotive – net liquidity bridge
Automotive – net liquidity bridge € mn Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Automotive cash and cash equivalents plus securities, loans and 4.8 6.2 8.4 time deposits (-) Automotive third-party borrowings (3.0) (3.2) (3.4) (=) Automotive net liquidity 1.8 3.0 5.0 Automotive net liquidity as of J
Slide 175: Range/consumptions/emissions
Range/consumptions/emissions Weitere Informationen zum offiziellen Kraftstoffverbrauch und den offiziellen spezifischen CO₂-Emissionen neuer Personenkraftwagen können dem "Leitfaden über den Kraftstoffverbrauch, die CO₂-Emissionen und den Stromverbrauch neuer Personenkraftwagen" entnommen werden, de
Slide 176: Sustainability Appendix
Sustainability Appendix The Decarbonization Index aims to provide a comprehensive overview of the CO2 equivalent emissions throughout the value chain. It is primarily based on life cycle assessments (based on assumptions) which Porsche performs on the basis of systematic methods. A life cycle assess
Slide 177: Glossary (1/4)
Glossary (1/4) ADAS: Advanced Driver Assistance System Audited 2021 Consolidated Financial Statements: Audited consolidated financial statements of the Company as of and for the year ended December 31, 2021 Automotive or Auto: Porsche automotive segment or relative to Porsche automotive segment Auto
Slide 178: Glossary (2/4)
Glossary (2/4) Automotive Trade Working Capital: Sum of the closing balances of Automotive inventories and Automotive trade receivables minus the closing balance of Automotive trade payables. Non-IFRS measure Automotive R&D: Automotive expensed R&D and Automotive capitalized development costs. Autom
Slide 179: Glossary (3/4)
Glossary (3/4) Fast Travelling: Products that enable fast travelling for customers (e.g., Porsche Taycan with top speed of 260 kph and 800-volt technology, that allows for battery charging sufficient for 100km range in 5 minutes and 80% battery charging in 22.5 minutes), Model Range Taycan Sports Se
Slide 180: Glossary (4/4)
Glossary (4/4) OS: Operating system Other cash flows from investing activities of current operations: Includes change in equity investments and cash received from disposal of intangible assets and property, plant and equipment Pay-out ratio: Proportion of earnings paid out as dividend to shareholder