Chairman of the Supervisory Board, Dr. Ing. h.c. F. Porsche AG (Porsche AG)
Porsche Annual General Meeting 2024
Dr Wolfgang Porsche was re-elected as Chairman of the Supervisory Board In accordance with the dividend policy, a dividend of ...
About Wolfgang Porsche
In a 2018 interview for his 75th birthday, Wolfgang Porsche discussed his favorite Porsche models. He stated that while success cannot be planned, the 911 has proven itself over 50 years through continuous development. He also remarked that it is important not to constantly change cars, noting that while the 911’s form is altered, the changes are often invisible and the basic shape remains the same. Porsche commented on newer models, expressing enthusiasm for the Panamera Hybrid plug-in, which he linked to his grandfather’s early hybrid technology. He described an older Carrera model as a "wolf in sheep's clothing" due to its sporty nature and understated appearance.
Transcript (5 segments)
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Narrator0:02
It is perhaps the only true constant. It governs all: stars, planets, life. We know it by the sun rising and setting, and all 86,000 seconds of each day. Time, truth, and unyielding ruler. It is here and then it is gone. The question time asks us is: what will we do with each moment? And can we make the ones to come better than the ones we have known? At Porsche, time is not a restraint; it is a call. A call to transcend it, to birth dreams, to scintillate senses, to forge out of raw materials and human passion, timelessness. All that so you might, in brief flashes or during long winding stretches, completely, utterly forget time even exists.
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Wolfgang Porsche1:52
Ladies and gentlemen, shareholders, dear shareholder representatives. As chairman of the supervisory board of Porsche AG, I hereby open today's annual general meeting. I welcome you on behalf of the supervisory board and executive board. This year's meeting is virtual, a format we have adopted to allow active participation with less effort and lower costs. I now present the supervisory board's report. I express our special thanks to all employees and management for their exceptional commitment in a challenging year. In 2023, we faced major geopolitical and economic challenges, but Porsche once again set benchmarks. We celebrated the fifth million Porsche off the production line, the 60th anniversary of the 911, introduced the new 718 Spyder RS, the extensively revised Cayenne, and the Mission X concept car. Financially, group revenue rose 7.7% to €40.5 billion, operating profit reached €7.4 billion, and deliveries hit a new record. The operating return on sales was 18%. We propose a dividend of €2.31 per preferred share and €2.30 per ordinary share, totaling €2.1 billion. The supervisory board has worked diligently, holding four meetings with high attendance. Looking ahead, 2024 will be challenging but will feature the largest model offensive in the company's history. I now hand over to the chairman of the executive board, Dr. Oliver Blume.
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Narrator21:18
Porsche has always been shaping dreams on the racetrack, dreams that come alive through milliseconds and lap times. For a car to succeed, the complete package must be flawless. The thrill of acceleration and the sensation of control unite enthusiasts across generations. The new Taycan Turbo GT is dedicated to that enthusiasm. Every turn of the wheel, every push on the pedal is a step closer to the goal: the fastest lap. Porsche's commitment to motorsport innovation pushes the limits of electric mobility and lap times all over the world. The new Taycan Turbo GT.
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Oliver Blume22:51
Dear shareholders, I extend a warm welcome to you all. 2023 was a record lap for Porsche. We delivered over 320,000 vehicles, group sales revenue reached €40.5 billion, and operating profit was €7.3 billion, with a return on sales of 18%. Per-car revenue rose to €127,000 from €112,000 the previous year. We propose a dividend of €2.31 per preferred share and €2.30 per ordinary share. In 2024, we face significant challenges, but it is also the year of the biggest product launch in our history. Five of six model lines are being refreshed: the Panamera, Macan, Taycan, Cayenne, and 911. The new 911 Carrera GTS features a performance hybrid system and set a new Nürburgring record. The Taycan Turbo GT is the most powerful production Porsche ever. The all-electric Macan sets new standards with augmented reality head-up display and digitalization. We are investing heavily in R&D, digitalization, and software, partnering with Applied Intuition. Sustainability is a key pillar: we aim for 80% of new vehicles to be fully electric by 2030 and carbon neutrality across the value chain. Porsche stands for democracy, freedom, and diversity. We make dreams come true.
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Wolfgang Porsche53:41
Well, thank you very much for your comments, Dr. Blume. Ladies and gentlemen, now I would like to take this opportunity to say goodbye to those of you who have followed the broadcast of the AGM via the internet. Thank you very much for your interest in Porsche.