The German stock market will get a momentary reprieve from the relentless focus on gas supplies when sportscar maker Porsche goes public on Thursday. The IPO is set to be the second largest in German history, and potentially the third-largest in Europe.
The IPO is set to be the second largest in German history, and potentially the third-largest in Europe.
More an SUV maker Porsche last year earned €4 billion on revenue of €33.14 billion. Its return on sales, its operating profit excluding the diesel penalty of 2019, reached 16% last year, and its earnings before interest, taxes, depreciation and amortization margin was 24.5%. Ferrari RACE, +1.08% RACE, -0.69% sported a margin of 35.7% last year.
Porsche is dependent on the fortunes of the world’s wealthy. “Especially in economic downturns, demand for the Group’s products may be reduced as customers may shift from buying luxury sports vehicles to buying vehicles in less expensive segments,” its IPO notes.
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