Porsche financial results seem good

[Tom]

~310k vehicles delivered in '22; ~$40 Billion in revenues; ~$7.25 Billion in profits. The stock (P911 DE), is also up over 32% since its IPO last fall. Looks like they may be around for a while.


https://newsroom.porsche.com/en/2023/co ... 31485.html


https://www.reuters.com/business/autos- ... 023-03-13/

[blueline]

~310k vehicles delivered in '22; ~$40 Billion in revenues; ~$7.25 Billion in profits. The stock (P911 DE), is also up over 32% since its IPO last fall. Looks like they may be around for a while.


https://newsroom.porsche.com/en/2023/co ... 31485.html


https://www.reuters.com/business/autos- ... 023-03-13/

Outside of the current profitability numbers and the future fiscal goals that were outlined, I found the briefly described forward-looking plans interesting, such as the upcoming significant upgrade to the Cayenne, the revelation of a new SUV to be positioned higher in the hierarchy than the Cayenne (wow), the further driven home fact that all 718's and Macan's will be entirely electric very soon, among other bits of info provided. Does this spell the end for the ICE GT4 and GT4-RS? It sure seems like it.

[audi4t]

Good to see profitability is significant since that supports research and development.

The continued availability of internal combustion engines to a large extent depends on Porsches development of synthetic fuels and the implementation of hydrogen and other energy sources.

[911R]

Porsche cars are doing well. Porsche dealerships are doing better. My sales guy made $200,000+ last year when cars were hard to find. He works 60+hours a week.

I am just saying as Porsche profits all go to the parent which is VW. Porsche itself is not a car company.

Ford, GM, and Tesla are the major players here (Stellantis cars are based in the Netherlands with Fiat as the main brand).

I'd never invest in any car manufacture. It's even below investing in Silicon Valley Banks.
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I sure think the future sales of the parent companies are marginal at best. I bought some banks and some tech stocks when on sale.

[blueline]

Porsche cars are doing well. Porsche dealerships are doing better. My sales guy made $200,000+ last year when cars were hard to find. He works 60+hours a week.

I am just saying as Porsche profits all go to the parent which is VW. Porsche itself is not a car company.

Ford, GM, and Tesla are the major players here (Stellantis cars are based in the Netherlands with Fiat as the main brand).

I'd never invest in any car manufacture. It's even below investing in Silicon Valley Banks.
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I sure think the future sales of the parent companies are marginal at best. I bought some banks and some tech stocks when on sale.

Extreme volatility of automotive manufacturers' stocks have certainly been borne out over time. I remember Government Motors pretty well.

A non-scientific count I did just now turned up approximately 130 different automobile manufacturers worldwide between 1860 and 1899. There were approximately 485 new makes worldwide in the following decade (1900 to 1910).

A Saturday Evening Post poster circa 1952 listed 2,530 makes that had at some point existed to date in the U.S. alone. Who knows how many have come and gone worldwide. Many thousands.

Start ups aren't anything new!

[Tom]

Porsche cars are doing well. Porsche dealerships are doing better. My sales guy made $200,000+ last year when cars were hard to find. He works 60+hours a week.

For the most part, Porsche dealerships are closely held with little to no public financial disclosures, so it is difficult to know know how well they are doing. COVID and chip shortages were a known financial stress for most dealers though.
As for employee earnings, sharp-penciled capitalists might draw the opposite inference from high employee earnings, see, e.g., Enron.

I am just saying as Porsche profits all go to the parent which is VW. Porsche itself is not a car company.

Ford, GM, and Tesla are the major players here (Stellantis cars are based in the Netherlands with Fiat as the main brand).

Porsche's ownership structure can be confusing, but Porsche AG is indeed a car company. There are two primary Porsche entities -- Porsche SE and Porsche AG.

Porsche SE is essentially a holding company for the extended Porsche family.

Porsche AG is the company that recently 'went public' and the company that makes our cars. It's voting shares are held 75% (minus one share) by VW, and 25% (plus one share) by Porsche SE. This gives the family blocking power over key issues. Porsche AG also has an equal number of non-voting preferred shares, which are owned half by Porsche SE, with the rest sold to the public market and institutional investors. Between voting and non-voting shares, Porsche AG had 911 million shares issued at the time of their IPO, in a hat tip to its most famous car.

Importantly, Porsche SE also owns nearly 32% of VW, giving it a controlling minority interest in VW. VW, in turn, is a major player by any estimation. It was the world's largest auto maker by revenues in 2022 at $263 billion, bigger than GM ($122B) and Ford ($127) combined. Toyota is a close second at $259B, followed by Mercedes ($183B). Tesla isn't in the top 10.

I'd never invest in any car manufacture. It's even below investing in Silicon Valley Banks.

I don't make individual stock picks in any industry really. My interest in Porsche's finances is really about making sure the company will be selling us cars for years to come -- and it's looking pretty good I'd say.

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I sure think the future sales of the parent companies are marginal at best. I bought some banks and some tech stocks when on sale.

It's not clear to me what 'future sales of the parent companies" means in this context, but glad you got some stock bargains. Feel free to start an investing thread in the OK Corral if you'd like to talk about investing in general.