The sports car manufacturer Porsche has to revise its annual forecast downwards due to supply bottlenecks for aluminum alloys. As the DAX company announced on Tuesday night, the flooding of a production facility of an important European supplier has led to significant bottlenecks in special aluminum alloys.
The supplier informed its customers about the occurrence of a force majeure case. At Porsche, body parts made of aluminum are affected and are used in all vehicle series produced.
Porsche therefore expects disruptions in production over several weeks, which could lead to the standstill of one or more series, the mandatory announcement continued. Despite the countermeasures that have been taken, the Stuttgart-based company assumes that the production and delivery delays cannot be fully compensated for in the current financial year.
Return on sales falls
The operating return on sales is now expected to be between 14 and 15 percent, instead of the previously forecast 15 to 17 percent. Sales are expected to be between 39 and 40 billion euros, instead of the previously targeted 40 to 42 billion euros. The half-yearly financial report is scheduled to be published on July 24, 2024.
The company is currently struggling with problems anyway. In the first quarter, the operating margin fell to 14.2 percent, the worst value since the worst corona phase in 2020. In China Porsche sold just under 30,000 cars in the first half of the year, a third less than a year ago. The residual value of the electric Taycan has collapsed, as has the share price. What was now a market value of 110 billion euros has now become 68 billion.
Company boss Oliver Blume (56) is actually supposed to be increasing the returns at the luxury boutique. But a lot of things don’t go according to plan: At Porsche, the models arrive too late, China is weakening. In his simultaneous role as CEO, Blume should also… Volkswagen-Restructure the group. This ensures an emerging peace internally, as manager magazin published in an inside story.