The Stuttgart-based sports car manufacturer Porsche is wooing investors for its IPO with the prospect of strong sales and profit growth in the next few years. “We are not comparable to Ferrari,” said CEO Oliver Blume. With around 300,000 cars sold, Porsche is not a niche supplier, unlike the Italians: “We combine luxury with economies of scale. That makes us unique.” In the long term, returns on sales of more than 20 percent are possible. After the IPO, Porsche is hoping for more independence from the owner Volkswagen, which will give us more speed when making decisions. The Wolfsburg-based car manufacturer plans to list Porsche AG on the stock exchange in the fourth quarter. It is considered the most valuable part of the group. 25 percent of the preferred shares should end up with the investors, another 25 percent with VW’s major shareholder Porsche SE. 12.5 percent of the share capital would then be listed on the stock exchange, and the Porsche and Piech families would again have a direct stake in the company, which is named after the company’s founder, Ferdinand Porsche. However, many investors are skeptical because of the downward trend on the stock exchanges.
Auto Industry – Porsche better than Ferrari – Economy
