1Q22: Porsche profit drops 30% to €1.28bn due to higher investments & weak China demand, sales reach €9.01bn; operating return falls to 14.2%.
Porsche AG's Q1 profit dropped 30% to €1.28 billion due to higher investments in new model launches and soft demand in China, while sales reached €9.01 billion. The German luxury carmaker's operating return on sales fell to 14.2%, below the annual guidance of 15-17%. Despite the challenges, Porsche remains committed to its full-year guidance, including expected group revenue of up to €42 billion.
April 26, 2024
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