The year 2019 marked the dawning of a new era for Porsche. At the start of September we unveiled the Taycan, our first fully electric sports car and the result of many years of strategic development work. We created around 2,000 new jobs for our sixth model and launched a comprehensive training offensive. We have invested in our Zuffenhausen site and commissioned a new production line, creating a factory within a factory that is consistently geared towards sustainability.
Operating results are equally positive. Deliveries have reached their highest point, 10 per cent higher than the previous year at more than 280,000 vehicles. Sales have also risen by 11 per cent to 28.52 billion euros. The operating income before special items was 4.40 billion euros, an increase of three per cent on the previous year.
Our employees have made this success possible – with passion, a pioneering spirit and strong power play in relation to new models. These include the 911 Cabriolet, the Cayenne Coupé, the 911 Speedster, the 935, the 718 Spyder, 718 Cayman GT4, the Macan Turbo and the Taycan Turbo, Turbo S and 4S. The Taycan completes our range of three different drive systems. We are pursuing a clear product strategy: emotional petrol models, dynamic plug-in hybrids and innovative electric sports cars.
Porsche is committed to innovation. Much of the technology found in our production vehicles has its origins in motorsport. Last year proved to be one of the most successful in our motor racing history. In GT sport we won every title in the World Endurance Championship (WEC). We also secured overall victories in the North American IMSA racing series and triumphed in the highly competitive Intercontinental GT Challenge. In addition, we made our debut in the Formula E series last autumn with the Porsche 99X Electric – and immediately made it onto the podium in the first race.
Our Porsche Strategy 2025 is taking hold. It is the basis for our company’s activities. Important decisions have already been taken in 2019 to set the course for the future development of the company. Furthermore, over the past two years we have been making good progress with an income programme aimed at ensuring the future economic stability of Porsche. It involves intelligent ideas that bolster our income. For instance, we are employing more digital methods, reducing our variety of versions, using more carry-over parts and developing new business ideas. We are confident that we will also be able to achieve the target yield of 15 per cent with these measures in the future.
Sustainability is a central pillar of the Porsche strategy. Here we are aware of every aspect of our corporate responsibility: economic, environmental and social. One good example is the Taycan factory, with which we have made the entire main factory in Zuffenhausen carbon-neutral. The new buildings are energy-efficient, while the power comes from regenerative sources. We generate the heat in our own combined heat and power plants – powered by biogas, which we obtain from residual materials and waste products. All of these measures are important steps towards our aim of becoming a zero-impact company across all value-added processes. At the same time, we adhere to a clear principle that firstly involves avoiding a negative impact, then reducing it and only then offsetting it.
Porsche embraces its social responsibility. We support a wide range of charitable initiatives in the fields of culture, sport, education and science, the environment and various social projects. We do this primarily at our company locations. Whether improving the prospects of children and young people or supporting disadvantaged people, solidarity extends – literally – beyond our factory gates.
All of the things that were important in 2019 still apply as we embark on a new decade: Porsche is continuing to develop. We are linking our past to the future with our models. At the same time, the transformation of the automotive industry represents a challenge. We are thinking in terms of opportunities here. Together with our employees, we are continuously driving this transformation forward in a positive sense.
Porsche has only remained Porsche because it has constantly embraced change.
The Executive Board
of Porsche AG