Porsche targets an automotive Ebitda margin of as much as 27% by 2026, up from 24.5% last year, below what Ferrari generated in 2021, but well ahead of Tesla and BMW.
and unlock value. The company has hired more than a dozen banks to push the IPO, which could value Porsche at as much as 80 billion euros to 90 billion euros, according to people familiar with the matter. VW has pitched the listing as a way for Porsche to gain greater autonomy in areas like software and partnerships while it can continue to benefit from a symbiotic relationship with the parent.
That narrative has sparked pushback from investors, who have flagged a listing structure that fails to make the asset more independent from the billionaire Porsche and Piech family and headwinds in the overall IPO market. Under the plan, the family would gain a blocking minority stake of 25% plus one share.
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