text / Jiucai
Produced / Node Finance
Recently, the luxury brand Porsche IPO of the Volkswagen Group , successfully completed the issuance and officially landed on the Frankfurt Stock Exchange. The listing price was set at 82.5 euros per share, and the total market value was 75 billion euros. On the day of
listing, Porsche opened at 84 euros per share and directly entered the Frankfurt Stock Exchange list of blue chip stocks , and the stock price rose to 86.78 euros per share on the same day.
Porsche CEO Obomu once said that the listing is a historic moment for Porsche, and the initial public offering will open a new chapter for us and be able to have greater independence and will have the opportunity to continue to implement our strategy.
In February this year, Volkswagen Group publicly stated for the first time that it is evaluating the feasibility of the Porsche IPO. Volkswagen Group and the board of directors of Porsche Holdings have reached an framework agreement , which clearly ensures that the Rsche will be listed independently.
On September 18, Volkswagen Group determined the share price of Porsche at a special meeting of the Supervisory Board. The subscription price per share will be between 76.5 euros and 82.5 euros, equivalent to a valuation of 70 billion euros to 75 billion euros.
Currently, after its listing, Porsche has become the fifth largest car company in the world. Porsche IPO is also known as the second largest IPO in German history and the third largest IPO in European history.
According to Porsche's prospectus, its sales revenue and profits have maintained a steady growth. From 2019 to 2021, Porsche's sales revenue was 28.515 billion euros, 28.695 billion euros and 33.138 billion euros, respectively, with operating profits of 3.862 billion euros, 4.177 billion euros and 5.314 billion euros, respectively; sales profit margins were 15.4%, 14.6% and 16%, respectively, with an average sales profit margin of over 15% in three years.
In the first half of this year, Porsche's global delivery volume fell by 5% year-on-year to 145,800 vehicles, but its performance showed a year-on-year upward trend, with sales revenue of 17.922 billion euros in the first half of the year, an increase of 8% year-on-year; operating profit of 3.48 billion euros, an increase of 24.64% year-on-year; sales profit margin was 19.4%.
is visible, and Porsche still has quite high profitability. From the perspective of regional contribution, the Chinese market is the strongest performing market in Porsche's global market. As of 2021, China has become the world's largest single market for Porsche brands for seven consecutive years, and car owners are showing a trend of younger and more feminine.
In the past three years, Porsche has sold more than 310,000 cars in the Chinese market, accounting for about 32.09% of the global sales, and the Chinese market has contributed one-third of its sales revenue.
In the first half of this year, Porsche's sales in the Chinese market declined, but sales revenue still increased by 10% year-on-year to 5.64 billion euros, accounting for 31.47% of the global total sales revenue. Are you optimistic about Porsche's performance after its launch? Welcome to leave comments.
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