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Assets Assets Non-current assets Non-current assets 33,239 30,407 Intangible assets Intangible assets 13 8,941 8,554 Property, plant and equipment Property, plant and equipment 14, 35 10,048 9,394 Leased assets Leased assets 15, 35 5,393 4,190 Equity-accounted investments Equity-accounted investments 16 627 651 Other equity investments Other equity investments 16 892 814 Financial services receivables Financial services receivables 19 5,078 4,676 Other financial assets Other financial assets 20 1,496 1,422 Other receivables Other receivables 21 66 78 Deferred tax assets Deferred tax assets 22 698 627 Current assets Current assets 20,288 20,040 Inventories Inventories 17 6,130 5,947 Trade receivables Trade receivables 18 1,340 1,449 Financi...

labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Block quote Ordered list Item 1 Item 2 Item 3 Unordered list Item A Item B Item C Text link Bold text Emphasis Superscript Subscript Financial result Heading 1 Heading 2 Heading 3 Heading 4 Heading 5 Heading 6 Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cil...

nt in the field of data processing as well as the production and distribution of data-processing products; sale of merchandise and commercial exploitation of brand rights, including those containing the word “Porsche”. Also included are all other activities that are technically or economically related, including the commercial exploitation of intellectual property rights. Financial services are another business purpose, in particular finance and mobility services for customers and dealers. Organization Dr. Ing. h.c. F. Porsche Aktiengesellschaft (“Porsche AG”) is the parent company of the Porsche AG Group (Porsche AG and its fully consolidated subsidiaries) and has its registered office in Stuttgart. Further information can be found in the ...

cutive Board has sole responsibility for managing the company in the company’s best interests, in accordance with the Articles of Association and the Rules of Procedure for the Executive Board issued by the Supervisory Board. The business activities of the Executive Board are divided into eight divisions. In addition to the Chairman of the Executive Board, the other Board positions are: Procurement, Car-IT, Research and Development, Finance and IT, Human Resources and Social Affairs, Production and Logistics as well as Sales and Marketing. Information on the composition of the Executive Board and additional information about the members of the Executive Board, including their CVs, can be found on Porsche AG’s website at ↗ https://investorr...

Dear Sir or Madam, Dear Friends of the Company, ‍ The 2024 financial year was shaped by major geopolitical tension, increasing macroeconomic uncertainty, and—for us—poor market developments in our key Chinese market. Simultaneously, there was a continuation of the deep changes within the global automotive industry that have been caused by ongoing advances toward sustainable mobility. Recently, though, there has been a noticeable slowdown in this process in Europe and Germany in particular. Innovative power, boldness, and passion are crucial driving forces for our day-to-day actions, especially in times of massive challenges that demand a lot of us all. That is something we must not forget, and we would be well advised to reflect on our stre...

vant to the Porsche AG Group. Risk categories of the Porsche AG Group The Porsche AG Group distinguishes between six risk categories which are derived from the business model. These are used to classify individual risks according to their causes. They form the risk inventory of the Porsche AG Group. ‍ The risks within the five risk categories of sales risks, supply risks, financial risks, personnel risks and operational risks can be assessed on a quantitative basis. Risks from the sustainability environment are also integrated into these processes. Quantification involves determining the short-term financial impact of the risks within the RMS period under review, which corresponds to the current fiscal year and the three subsequent years. T...

The following describes the expected development of the Porsche AG Group taking into account the conditions in which it does business. In line with the group’s internal management system, the forecast period covers one year and contains all information available at the time of preparing the financial statements that could have a significant impact on the business development of the Porsche AG Group. Risks and opportunities that could give rise to a deviation from the forecast development are set out separately in the → Report on risks and opportunities. The report on expected developments contains forward-looking statements based on the estimates and expectations of the Porsche AG Group. Actual business performance may deviate, both positiv...

e magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Block quote Ordered list Item 1 Item 2 Item 3 Unordered list Item A Item B Item C Text link Bold text Emphasis Superscript Subscript Net assets and financial position As of December 31, 2024, total assets increased by €1,932 million from €25,393 million to €27,325 million. Fixed assets increased by €1,877 million, while current assets increased by €57 million. ‍ The share of fixed assets in relation to total assets was 63.5% (2023: 61.0%). Property, plant and equipment increased by €560 million to €7,458 million (2023...

to society” strategy field, the Porsche AG Group aims to assist regions around the world in preserving the environment, guaranteeing good working and living conditions and strengthening social cohesion. It supports corporate citizenship projects primarily intended to benefit young and disadvantaged people. A company fund established specifically for this purpose provides financial support for programs such as the “Join the Porsche Ride.” ‍ Detailed information about being a partner to society can be found in → S3 Affected communities . The complete chapter of the Non-Financial Statement (part of the Combined Management Report) is available for download . ‍ Zero Emission Vehicles (ZEV) The term “Zero Emission Vehicle” refers to vehicles tha...

ther they were all-electric models or plug-in hybrids. The Porsche AG Group’s vehicle product portfolio aims to significantly increase this proportion. The ramp-up of electrification depends largely on customer demand, the development of electromobility in the different regions of the world and regulatory incentive schemes. For the transitionphase, the Porsche AG Group is positioning itself as flexibly as possible with a mix of combustion-engined, plug-in hybrid and all-electric vehicles. ‍ In the “Decarbonization” strategy field, the Porsche AG Group aims to make an active contribution to limiting the rise in the global average temperature to a maximum of 2°C compared to pre-industrial levels and, pursue efforts to limit the increase to 1....

AG. Only the German PDF of the annual and sustainability report published on March 12, 2025, is legally binding. The complete report is available for download. In a materiality assessment conducted in the 2024 reporting year, the Porsche AG Group identified the topics that are highly relevant to a broad stakeholder group. The reporting on these material topics in the non-financial statement 2024 is based on the European requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). It is part of the management report in the combined Annual and Sustainability Report. ‍ The seperate ESG Addendum 2024 contains further supplementary content relating to the fundamental and mat...

income Other operating income 5 1,375 1,496 Other operating expenses Other operating expenses 6 –1,107 –1,162 Operating profit Operating profit 5,637 7,284 Share of profit or loss of equity-accounted investments Share of profit or loss of equity-accounted investments 7 –155 –9 Interest income Interest income 8 278 264 Interest expenses Interest expenses 8 –223 –184 Other financial result Other financial result 9 –309 19 Financial result Financial result –409 91 Profit before tax Profit before tax 5,227 7,375 Income tax income/expense Income tax income/expense 10 –1,632 –2,218 Current Current –1,470 –1,987 Deferred Deferred –163 –231 Profit after tax Profit after tax 3,595 5,157 thereof profit attributable to shareholders thereof profit att...

especially in raw material extraction. The Porsche AG Group also engages in partnership projects to improve living and working conditions in selected commodity-exporting countries. ‍ Detailed information about supply chain responsibility can be found in → G1 Business conduct and → S2 Workers in the value chain and as a cross-cutting topic in the other chapters of the non-financial statement. Governance and transparency Transparent and responsible corporate governance creates trust and is an important basis for sustainability and the entrepreneurial activities of the Porsche AG Group. In the “Governance and transparency” strategy field, the Porsche AG Group is therefore working continuously to increase transparency and responsible corporate...

battery electric vehicles (BEVs). WLTP The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle’s fuel consumption, range, and emissions as realistically as possible. Materiality assessment The Corporate Sustainability Reporting Directive requires companies to carry out a double materiality assessment. In this process, the financial materiality (impacts of sustainability matters, such as climate change, on the financial position of a company) and impact materiality (impacts of the company’s business activities on the environment, society, and human rights) are both assessed. If a topic in one of the two dimensions is material, it must be included in the sustainability reporting. UN Global Co...

s involving a change in ownership interest¹ – – – – – – – – – – – Other changes – – 0 –1 – – – 0 –1 10 9 Balance at Dec. 31, 2024 911 3,822 17,993 493 127 –307 0 4 23,043 13 23,056 1 For dividend distributions and capital transactions involving a change in ownership interest see → Equity Equity is explained in note → 25. Equity You can find the → Notes to the consolidated financial statements under the following link. Zero Emission Vehicles (ZEV) The term “Zero Emission Vehicle” refers to vehicles that do not release any airborne pollutants into their direct environment. For example, this includes battery electric vehicles (BEVs). WLTP The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle...

battery electric vehicles (BEVs). WLTP The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle’s fuel consumption, range, and emissions as realistically as possible. Materiality assessment The Corporate Sustainability Reporting Directive requires companies to carry out a double materiality assessment. In this process, the financial materiality (impacts of sustainability matters, such as climate change, on the financial position of a company) and impact materiality (impacts of the company’s business activities on the environment, society, and human rights) are both assessed. If a topic in one of the two dimensions is material, it must be included in the sustainability reporting. UN Global Co...

idend of €2.30 per ordinary share and €2.31 per preferred share to the Annual General Meeting, which is set to take place on May 21, 2025. In this case, a total of €2.1 billion will be distributed to shareholders, subject to the approval of the shareholders. For notes on Porsche’s sustainable dividend strategy, please refer to the condensed version of the → Porsche AG HGB financial statements (condensed version) . 2024 2023 Stock prices Year-end price 1 € 58.42 79.90 Year high 1 € 95.24 120.35 Year low 1 € 57.22 79.90 Key stock indicators Earnings per ordinary share € 3.94 5.66 Earnings per preferred share € 3.95 5.67 Total number of shares Shares 911,000,000 911,000,000 Market capitalization (Dec. 31) € billion 53.2 72.8 Average daily trad...

rate was cut for the first time in September of the current reporting year, followed by two further cuts. The growth rate in Canada was down slightly on the prior year at 1.3% (2023: up 1.5%). Economic growth in China was at a high level compared to other parts of the world, but at 5.0% (2023: up 5.2%) was slightly weaker than in the prior year. Market development for the automotive segment In the fiscal year 2024, the global volume of the passenger cars market was up slightly on the prior year at 79.2 million vehicles, with most passenger car markets recording growth. The supply situation continued to return to normal and vehicle affordability improved to some extent. ‍ In addition to fiscal policy measures, the sector-specific environment...

enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Block quote Ordered list Item 1 Item 2 Item 3 Unordered list Item A Item B Item C Text link Bold text Emphasis Superscript Subscript Change in receivables (excluding financial services) Heading 1 Heading 2 Heading 3 Heading 4 Heading 5 Heading 6 Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse ...

This transition needs to be managed perfectly. And it all needs financing at the same time. That’s challenging enough with one new model, but we had four in 2024, in quick succession. I think it’s safe to say that Porsche delivered. All of the new launches are reflected in the sales figures. After so many record-breaking years, you had to accept a setback in terms of the financial results. It was an extremely challenging year for the European automotive industry as a whole in 2024. We were expecting that, but the situation worsened throughout the year. We are experiencing a massive drop in demand in the luxury segment in China. Plus, costs have increased in many areas, especially in the supply chain. Still, we followed through with our yea...

battery electric vehicles (BEVs). WLTP The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle’s fuel consumption, range, and emissions as realistically as possible. Materiality assessment The Corporate Sustainability Reporting Directive requires companies to carry out a double materiality assessment. In this process, the financial materiality (impacts of sustainability matters, such as climate change, on the financial position of a company) and impact materiality (impacts of the company’s business activities on the environment, society, and human rights) are both assessed. If a topic in one of the two dimensions is material, it must be included in the sustainability reporting. UN Global Co...

battery electric vehicles (BEVs). WLTP The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle’s fuel consumption, range, and emissions as realistically as possible. Materiality assessment The Corporate Sustainability Reporting Directive requires companies to carry out a double materiality assessment. In this process, the financial materiality (impacts of sustainability matters, such as climate change, on the financial position of a company) and impact materiality (impacts of the company’s business activities on the environment, society, and human rights) are both assessed. If a topic in one of the two dimensions is material, it must be included in the sustainability reporting. UN Global Co...

omponents and do not rely on fossil resources. DAC is a promising technology for capturing CO₂ as a raw material for use in eFuels and plastics. Or even for removing CO₂ from the atmosphere and binding it permanently. In other words, we should be able to operate petrol engines with virtually no carbon emissions in the future. Investments 04 04 Investments Porsche uses its financial power on behalf of customers. We invest in other exclusive offers such as expanding our popular, high-margin Sonderwunsch program. We also plan to expand additional luxury enablers like our Porsche Studios and our Porsche Experience Centers, which allow fans around the world to actively get to know our products firsthand. They offer demanding courses that allow y...

n China is changing on a structural level, and the transition of our industry to electric mobility is progressing more slowly than originally predicted a few years ago. ‍ We at Porsche have not been immune to the pressure that all this has brought. However, our business model has proved to be resilient and flexible. Despite the difficult conditions, Porsche is in a robust financial position and is highly profitable. We have successfully completed our year of product launches—the greatest in our history—and accelerated the development of innovative products and services. ‍ The second, significantly more advanced generation of the all-electric Taycan is now on the market. Likewise, the Macan, our biggest seller for many years, has powered for...

1  Automotive operating profit plus depreciation/amortization and changes in value of property, plant and equipment, capitalized development costs and other intangible assets in the automotive segment. 1  Operatives Ergebnis Automobile zzgl. Abschreibungen und Wertänderungen auf Sachanlagen, aktivierte Entwicklungskosten und sonstige immaterielle Vermögenswerte im Segment Automobile. 2  Total of cash and cash equivalents, securities and time deposits, loans and time deposits net of third-party borrowings in the automotive segment. 2  Summe der Zahlungsmittel und Zahlungsmitteläquivalente, Wertpapiere, Darlehensforderungen und Termingelder abzgl. Finanzverbindlichkeiten ggü. Dritten im Segment Automobile. 3  Research...

you use our online offer without registration, personal data may still be processed. ‍ 3.1. Compliance with legal obligations We process your personal data in order to comply with legal obligations to which we are subject. Data processing is carried out on the basis of Article 6 (1) (c) GDPR. The obligations can arise, for example, from commercial, tax, money laundering, financial or criminal law. The purposes of the processing result from the respective legal obligation; the processing usually serves the purpose of complying with government control and information obligations. ‍ 3.2. Safeguarding legitimate interests We also process your personal data to protect the legitimate interests of us or third parties, unless your interests, which...

Innovatively Porsche The automotive industry is undergoing an epochal shift. Digitalization inside the vehicle goes even further than electric mobility—and requires a whole new way of thinking. Executive Board members Dr. Michael Steiner (Research and Development) and Sajjad Khan (Car-IT) explain more. Mr. Blume, what does the digital transformation mean for Porsche generally speaking? Dr. Oliver Blume We have a fundamentally different way of thinking today. The motto used to be “Hardware first.” Software was only introduced during the development process. These days, software defines the central requirements of a new vehicle from the very start. This new way of thinking is primarily an issue of mindset—throughout the industry, not just at ...

with Michael and his team. Even for issues beyond mere coordination of new products. We’ve come to realize that design can do so much more than just styling our sports cars. How do you mean? DR. OLIVER BLUME Our design strategy serves as a guideline that we want to apply at the company far beyond the confines of design. It represents a clear added valued for the long-term position of our brand. Simply put, design experts develop brand strategies that we aim to use as a type of brand compass throughout the company—regardless of the actual product design. The aim is to ensure a consistent brand feeling that’s perceived the same way across all touchpoints with the Porsche world. ­Dr. Oliver ­Blume (left) and Head of Design Michael Mauer: so mu...