The motor from Porsche continues to sputter: Luxury brand is already sending a second profit warning in six months

Within a little more than a month, Porsche publishes his annual figures for 2024. Investors are waiting with a scared heart: the share of the stock market has lost more than a quarter of its value in the last 12 months. And now a new profit warning is added. This year Porsche expects a turnover of 39 to 40 billion euros – a stabilization – and an operational profit margin of 10 to 12 percent. Last summer, management had already reduced that profit margin from 15 to 17 percent to 14 to 15 percent.

Porsche seems to end up in a “perfect storm”, it sounds to analysts: a heavily disappointing sale in China (-28 percent last year), for years the growth motor, just when the costs are spreading the pan (despite savings about 800 million higher then budgeted). The fact that five of the six models are ready for a thorough renewal or facelift at the same time and that Porsche also had to help a number of suppliers in difficulty, of course does not help.

The poor financial situation has already cost the head of sales director Detlev von Platen and of financial director Lutz Meschke, who has been in the management since 2009 and is considered a confidant of the Porsche family. In order to bring the profit to an acceptable level, the group starts to electrify the range at a rapid pace and again focus more on classic combustion engines and plug-in hybrids, it sounds on the headquarters in Stuttgart.