Letter from the Executive Board

The Executive Board of the Dr. Ing. h.c. F. Porsche AG (f.l.t.r.): Albrecht Reimold, Oliver Blume, Detlev von Platen, Uwe-Karsten Städter, Michael Steiner, Lutz Meschke, Andreas Haffner with the Porsche 911 GT3 (992).

Executive Board Porsche AG, 911 GT3, 2021, Porsche AG

Dear Reader,

The year 2020 was a very challenging year. The coronavirus pandemic has severely tested human co-existence. Meanwhile, the global economy was subjected to a stress test. Porsche too was affected. We were forced to halt production for six weeks in the spring, and our dealership operations also had to temporarily close.

Our response to these challenges was rapid, flexible and pragmatic. We introduced targeted measures to protect our workforce. And we engaged in systematic crisis management, successfully shoring up our liquidity and stabilising our results. In this way we steered Porsche strategically and robustly through the crisis.

With good results. With deliveries of new vehicles totalling 272,162, we were a mere three per cent down on the record figure set in 2019. Our company remains highly profitable. Operating profit: 4.2 billion euros. Return on sales: 14.6 per cent. Figures that are unmatched in our sector. Figures that represent a great success for our entire team. In a difficult environment, that team has remained united, shown fighting spirit, and been dedicated to the task at hand.

This success is founded on our fresh and attractive product range. 911 Turbo, 911 Targa, 718 GTS – thoroughbred sports cars, and the stuff of our customers’ dreams. Then there are our attractive best-sellers: the Cayenne and the Macan. Not forgetting our powerful Gran Turismo, the Panamera.

Our electric mobility strategy has also provided a strong tailwind, noticeably gaining momentum in 2020. In Europe, one third of our new deliveries were already electrified, with an equal split between all-electric and hybrid vehicles. This figure will rise to 50 per cent by 2025. What this shows is that our electrification strategy is taking hold.

Our success is driven by our innovative power. The technological strength that has always set Porsche apart has been concentrated in the Taycan, our first all-electric sports car. Its innovative 800-volt architecture already has a proven track record, used in our winning race cars at Le Mans. This architecture means that it is not only fast on the road, but also quick to recharge. In a further success story, the Taycan was voted the most innovative vehicle in the world in 2020. Internationally, it has picked up more than 50 awards – more than any other Porsche model has ever achieved in the space of one year.

Porsche is clearly committed to the goals of the Paris Agreement, and is a trailblazer in this area. We are pursuing a consistent electrification and sustainability strategy. And we are setting ourselves ambitious decarbonisation targets, including in comparison with the rest of the industry. Porsche is also setting new standards in sustainable production. Our original plant in Zuffenhausen has been CO₂-neutral since 2020, with the Leipzig plant following suit in January 2021. This is also where the all-electric Macan will come off the production line in future. The achievement underlines our credentials as a sustainable mobility pioneer. Our goal is ambitious: Porsche will be completely CO2-neutral as early as 2030.

We see ourselves as a partner in society and embrace the responsibilities that this involves – towards the environment, social issues and the economy. Porsche has, for example, supported countless social activities in 2020, the year of coronavirus. These have all been targeted and well coordinated, with a significantly increased volume of donations and a voluntary commitment from many employees. In addition, we supported the state governments of Baden-Württemberg and Saxony in the procurement of PPE and made our expertise available to the crisis teams. Porsche has also been involved in many aid activities with an international aspect. This has greatly enhanced our understanding of sustainability. We will build on this in the coming years.

And we are also investing in our employees. Employees who work hard every day to inspire our customers – with pioneering spirit and passion. Last year, we signed works agreements to secure jobs at our locations until 2030, sending out a clear signal of our future intentions. Our team is highly motivated. With that team, we are successfully shaping the future of sustainable mobility.

The new Porsche Strategy 2030 shows us the way forward. This also applies to the further expansion of our digital capabilities: we are systematically stepping up the efficiency, precision and quality of our processes. Making us even faster and even more flexible. We are undertaking considerable efforts to succeed in our goals: between now and 2025, Porsche will be investing 15 billion euros in electromobility, sustainable production and digitalisation. This is money well spent, not least because it will strengthen our commercial success and profitability in the long term. Even in an age of transformation, we remain as focused as ever on our strategic return target of 15 per cent.

In 2020, Porsche showed impressively: our business model is robust and flexible. Our brand has never had such a positive appeal. Strategically, we remain firmly on course. Sustainability, innovation and digitalisation will determine our future path. We are also strongly and profitably positioned for the future. Our good performance in terms of return and capital value allows us to look to that future with confidence: we will embrace our opportunities with self-confidence and a down-to-earth approach. 

 

The Executive Board of

Dr. Ing. h.c. F. Porsche AG

 

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Annual and Sustainability Report 2020 Porsche AG
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Consumption data

911 Turbo

WLTP*
  • 12.3 – 12.0 l/100 km
  • 279 – 271 g/km

911 Turbo

Fuel consumption / Emissions
fuel consumption combined (WLTP) 12.3 – 12.0 l/100 km
CO₂ emissions combined (WLTP) 279 – 271 g/km
NEFZ*
  • 11.1 l/100 km
  • 254 g/km

911 Turbo

Fuel consumption / Emissions
fuel consumption combined (NEDC) 11.1 l/100 km
CO₂ emissions combined (NEDC) 254 g/km

911 Turbo S

WLTP*
  • 12.3 – 12.0 l/100 km
  • 278 – 271 g/km

911 Turbo S

Fuel consumption / Emissions
fuel consumption combined (WLTP) 12.3 – 12.0 l/100 km
CO₂ emissions combined (WLTP) 278 – 271 g/km
NEFZ*
  • 11.1 l/100 km
  • 254 g/km

911 Turbo S

Fuel consumption / Emissions
fuel consumption combined (NEDC) 11.1 l/100 km
CO₂ emissions combined (NEDC) 254 g/km

718 Boxster GTS 4.0

WLTP*
  • 10.9 – 10.1 l/100 km
  • 247 – 230 g/km

718 Boxster GTS 4.0

Fuel consumption / Emissions
fuel consumption combined (WLTP) 10.9 – 10.1 l/100 km
CO₂ emissions combined (WLTP) 247 – 230 g/km
NEFZ*
  • 10.8 –9.6 l/100 km
  • 246 – 219 g/km

718 Boxster GTS 4.0

Fuel consumption / Emissions
fuel consumption combined (NEDC) 10.8 –9.6 l/100 km
CO₂ emissions combined (NEDC) 246 – 219 g/km

718 Cayman GTS 4.0

WLTP*
  • 10.9 – 10.1 l/100 km
  • 247 – 230 g/km

718 Cayman GTS 4.0

Fuel consumption / Emissions
fuel consumption combined (WLTP) 10.9 – 10.1 l/100 km
CO₂ emissions combined (WLTP) 247 – 230 g/km
NEFZ*
  • 10.8 –9.6 l/100 km
  • 246–219 g/km

718 Cayman GTS 4.0

Fuel consumption / Emissions
fuel consumption combined (NEDC) 10.8 –9.6 l/100 km
CO₂ emissions combined (NEDC) 246–219 g/km

911 Targa 4S

WLTP*
  • 11.1 – 10.4 l/100 km
  • 253 – 236 g/km

911 Targa 4S

Fuel consumption / Emissions
fuel consumption combined (WLTP) 11.1 – 10.4 l/100 km
CO₂ emissions combined (WLTP) 253 – 236 g/km
NEFZ*
  • 10.3 – 9.9 l/100 km
  • 235 – 227 g/km

911 Targa 4S

Fuel consumption / Emissions
fuel consumption combined (NEDC) 10.3 – 9.9 l/100 km
CO₂ emissions combined (NEDC) 235 – 227 g/km

911 Turbo Cabriolet

WLTP*
  • 12.5 – 12.1 l/100 km
  • 284 – 275 g/km

911 Turbo Cabriolet

Fuel consumption / Emissions
fuel consumption combined (WLTP) 12.5 – 12.1 l/100 km
CO₂ emissions combined (WLTP) 284 – 275 g/km
NEFZ*
  • 11.3 l/100 km
  • 257 g/km

911 Turbo Cabriolet

Fuel consumption / Emissions
fuel consumption combined (NEDC) 11.3 l/100 km
CO₂ emissions combined (NEDC) 257 g/km

911 Targa 4S Heritage Design Edition

WLTP*
  • 11.1 – 10.4 l/100 km
  • 253 – 236 g/km

911 Targa 4S Heritage Design Edition

Fuel consumption / Emissions
fuel consumption combined (WLTP) 11.1 – 10.4 l/100 km
CO₂ emissions combined (WLTP) 253 – 236 g/km
NEFZ*
  • 10.3 – 9.9 l/100 km
  • 235 – 227 g/km

911 Targa 4S Heritage Design Edition

Fuel consumption / Emissions
fuel consumption combined (NEDC) 10.3 – 9.9 l/100 km
CO₂ emissions combined (NEDC) 235 – 227 g/km

911 Turbo S Cabriolet

WLTP*
  • 12.5 – 12.1 l/100 km
  • 284 – 275 g/km

911 Turbo S Cabriolet

Fuel consumption / Emissions
fuel consumption combined (WLTP) 12.5 – 12.1 l/100 km
CO₂ emissions combined (WLTP) 284 – 275 g/km
NEFZ*
  • 11.3 l/100 km
  • 257 g/km

911 Turbo S Cabriolet

Fuel consumption / Emissions
fuel consumption combined (NEDC) 11.3 l/100 km
CO₂ emissions combined (NEDC) 257 g/km

911 Targa 4

WLTP*
  • 10.9 – 10.5 l/100 km
  • 247 – 239 g/km

911 Targa 4

Fuel consumption / Emissions
fuel consumption combined (WLTP) 10.9 – 10.5 l/100 km
CO₂ emissions combined (WLTP) 247 – 239 g/km
NEFZ*
  • 9.8 l/100 km
  • 223 g/km

911 Targa 4

Fuel consumption / Emissions
fuel consumption combined (NEDC) 9.8 l/100 km
CO₂ emissions combined (NEDC) 223 g/km

911 GT3

WLTP*
  • 13.0 – 12.9 l/100 km
  • 294 – 293 g/km

911 GT3

Fuel consumption / Emissions
fuel consumption combined (WLTP) 13.0 – 12.9 l/100 km
CO₂ emissions combined (WLTP) 294 – 293 g/km
NEFZ*
  • 13.3 – 12.4 l/100 km
  • 304 – 283 g/km

911 GT3

Fuel consumption / Emissions
fuel consumption combined (NEDC) 13.3 – 12.4 l/100 km
CO₂ emissions combined (NEDC) 304 – 283 g/km