Porsche posts ‘strongest result’ in company history a year after IPO

Porsche has reported bumper sales and profits in the first year since its initial public offering.

The German sports-car maker, which listed last year in one of Europe’s largest initial public offerings, said operating profit in 2022 jumped 27 per cent to €6.7bn on the back of €37.6bn in revenues.

Chief executive Oliver Blume said it was “the strongest result in the history of Porsche”.

The company said it forecast profits margins in the range of 17 per cent to 19 per cent and revenues of €40bn to €42bn for 2023 “should the economically challenging conditions not further intensify significantly”.

The company last year overtook its parent company Volkswagen as the region’s most valuable carmaker just days after going public.