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Volkswagen:Quarterly Results/2025 Q2: Difference between revisions
Volkswagen:Quarterly Results/2025 Q2 (view source)
Revision as of 19:32, 30 July 2025
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== Q2 2025 Porsche Earnings Call Insights == | == Q2 2025 Porsche Earnings Call Insights == | ||
[https://fiscal.ai/company/XTRA-P911/investor-relations/ Q2 2025 Porsche Earnings Call Transcript] | |||
==== China ==== | |||
* “We deliberately cut production and reduced volumes to protect our brand, to protect our price premiums.” — Breckner | |||
* “We’ve launched a few special models with the Cayenne, also with the Macan... better proposition to the customers... still very well positioned above everything that you see in the competition.” — Breckner | |||
* “We have reduced our footprint from around 150 dealerships to about 100 by 2027.” — Blume | |||
* “We don’t expect that we will come back to 100,000 or over 100,000 [units]... We are calculating around 40,000 to 50,000 units in China.” — Blume | |||
* “We are counting more than in other regions of the world for exclusivity... installing city showrooms.” — Blume | |||
* “We are volume-wise down at a level of probably a bit more than 40,000 units this year... That’s a level we also see for the years to come.” — Breckner | |||
==== Tariffs ==== | |||
* “Extraordinary expenses... approximately €1.1B, of which around €500M [battery impairments] and around €400M from U.S. import tariffs.” — Breckner | |||
* “We had, as communicated, €400M in Q2... full 27.5%... as of August 1, we expect tariffs to come down to 15%.” — Breckner | |||
* "When we talked about mid to high three digit numbers there, a mid number would be €500 a high number would be $999,000,000 So mid to high is well in between these numbers and that's our estimation of the net effect for the full year, giving the assumptions I've just mentioned, especially that we will see the 15% as of August 1." | |||
* “We’ve already implemented pricing measures in early June with 2.3% to 3.6% of additional price increases.” — Breckner | |||
* “Mid to high triple digit [million euro] net effect for the full year.” — Breckner | |||
* “We will continue now with the talks [with the U.S. government]... There could be an opportunity that we will get a special bonus... not connected to the tariffs.” — Blume | |||
==== Demand ==== | |||
* “Incoming orders remain robust, reflecting strong brand desirability and a favorable product mix.” — Breckner | |||
==== Guidance ==== | |||
* Revenue in the range of €37B and €38B. | |||
* Group Return on Sales of between 5% and 7%. | |||
* “2025 will be the trough... 2026 will be a better year... too early to say whether double digit [margin] or not next year.” — Breckner | |||
* “On an operational level, we are running... well above [Q2’s 2.6%] return of sales level.” — Breckner | |||
==== Restructuring ==== | |||
* “We will not extend around 2,000 fixed term contracts... reduce an additional 1,900 positions... mainly R&D and SG&A.” “That’s ~15% of the core business workforce.” — Breckner | |||
* “The second structural package... needs to be a big one, a decisive one... negotiations start after the summer break.” — Breckner | |||
==== Launch roadmap ==== | |||
* “Now we are continuing this year with the 911 Turbo S, the next year with the electric Cayenne followed by the electric 718 and much more in the row.” — Blume | |||
* “We won’t be later than 2028 with a B SUV ICE and hybrid version... We are speeding up the process there.” — Blume | |||
== References == | == References == | ||