Stuttgart – Despite the difficult economic conditions, the Porsche Executive Board sees no reason to cancel the planned IPO.
The preparations for this were in full swing, said CEO Oliver Blume in a double interview with CFO Lutz Meschke of the “Frankfurter Allgemeine Zeitung” (Friday). Even concerns about the economy, the stock market environment and the war in Ukraine would not deter Porsche from the project.
“In the past, we have been robust and financially strong in every crisis,” said Blume. Investors longed for stable values. There is a lot of capital in the market.
►Meschke referred to the results from the first quarter: sales are increasing despite falling sales, the higher-priced models are increasing, the operating result was 1.5 billion euros. “The return on sales was more than 18 percent. These values are excellent prerequisites”.
The managers expressed criticism of the software division Cariad of the parent company Volkswagen and called for a change in strategy. “In this complex world, you can no longer do everything on your own,” Meschke appealed to Cariad. You have to work with the right partners.
“In the end, the customer is there and wants to seamlessly take their digital world from Apple or Google with them into the car.” Cariad is used as the basis and will “together with partners develop exactly the functions in the area of infotainment or automated driving that our customers want”. .
Blume said: “The group benefits when Porsche uses its degrees of freedom.” That brings added value for all sides. Porsche no longer wants to wait for the new operating system 2.0, which has been postponed to 2026. That is why some models are delayed. The sports car manufacturer is now relying on System 1.2, which starts with the all-electric Macan.
Blume also expressed criticism: There were “software delays” in the Macan start-up. Porsche cannot be satisfied with that.