Chairman of the Supervisory Board, Dr. Ing. h.c. F. Porsche AG (Porsche AG)
Porsche Annual General Meeting 2024 With 2025 New Lineup
Dr. Wolfgang Porsche was re-elected as Chairman of the Supervisory Board, and Jordana Vogiatzi was unanimously re-elected ...
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 (4 segments)
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Oliver Blume0:00
The cornerstone of our strategy is our products — the heart of Porsche. We started with the 911, which we've improved for over 60 years. Last week we presented the first 911 with a hybrid drive system, an exceptionally lightweight performance hybrid. The 911 Carrera GTS beat its predecessor on the Nürburgring by 8.7 seconds. We also have the next-generation Taycan with more power, longer range, and faster charging. The Macan is now fully electric and the highest-performing model in its segment. The new Panamera features Active Ride suspension, and the Cayenne received an all-round upgrade, including a third hybrid variant. We are setting new technological standards. Our balanced global sales distribution makes our business model robust. In 2023 we celebrated 75 years of Porsche and delivered over 320,000 cars. We are investing heavily in digitalization and software, with a new executive portfolio for Car IT. Sustainability is a key pillar: we aim to deliver over 80% of new vehicles as fully electric by 2030, depending on demand, and achieve carbon neutrality across the entire value chain. 2024 is the biggest model launch year in our history. We are guided by our mission to make dreams come true.
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Wolfgang Porsche19:05
Dear shareholders, I too extend a warm welcome. 2023 was an extremely fast lap for Porsche — a record lap. We delivered more than 320,000 cars and group sales revenue grew to €40.5 billion, with operating profit of €7.3 billion and an 18% return on sales. We propose a dividend of €2.31 per preferred share and €2.30 per ordinary share. Looking ahead, 2024 presents enormous challenges, but we are not going into defensive mode. We expect sales revenue between €40 and €42 billion and a return on sales of 15 to 17%. This is temporary; we stick with our long-term target of over 20%. 2024 is the biggest launch year with five of six model lines new. We are investing €5 billion in R&D and €4 billion in digitalization over five years. As chairman of the supervisory board, I open this virtual annual general meeting. I thank the executive board and all employees. The supervisory board closely monitored the company, approved the financial statements, and proposes reelection of all shareholder representatives. This year is driven by the largest model offensive in our history. Dr. Oliver Blume will now present the details.
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Narrator50:19
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 chase down 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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Wolfgang Porsche51:51
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 AG.