How Porsche CEO Oliver Blume is driving innovation

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 25 April 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

The initial public offering of luxury car manufacturer Porsche last fall was a bright spot in an otherwise difficult equity market. So how has the automaker navigated the macro challenges and what are the implications for the sector more broadly? In the latest episode of Exchanges at Goldman Sachs, Oliver Blume, the CEO of Porsche and its parent company VW, and Goldman Sachs’ Christoph Stanger, who chairs the European equity capital markets team and helped take the company public, go behind the scenes to look at what it was like to take the company public, as well as discuss some of the broader trends in the automotive industry.

Transcript

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0:00.0	The initial public offering of luxury car manufacturer Portia last fall was a bright spot in an otherwise difficult equity market.
0:07.2	So how was the automaker navigated the macro challenges and what are the implications for the sector more broadly.
0:13.6	We have still a strong situation in North America with a strong economic situation.
0:19.4	We are faced with inflation in Europe, but especially in our segments and the luxury segment,
0:25.9	our customers are not so affected like customers in the volume segment or in the premium segment.
0:32.4	Then I expect a strong comeback in China in the second half of the year.
0:38.0	I'm also Nathan and this is exchanges at Goldman Sachs. In this special episode of exchanges at Goldman Sachs,
0:48.0	I'm sitting down with Oliver Bluma, the CEO of Portia and its parent company
0:51.7	VW, and Goldman Sachs's Christoph Stanger, who chairs the European Equity Capital Markets team and helped take the company public.
0:59.0	The IPO was the largest ever by market cap in Europe and the second largest IPO in German history.
1:04.3	Today Porsche is the most valuable automotive company in Europe.
1:07.7	We'll go behind the scenes to look at what it was like to take the company public,
1:11.3	the impact on Porsche's future growth and development as a company,
1:14.9	as well as some of the broader trends in the automotive industry.
1:17.6	Oliver, Kristof, welcome to the program.
1:19.6	Yeah, hello and thanks for having us.
1:21.6	Great to be here. Oliver, let me just start by saying congratulations on the public debut of Portia and the
1:26.8	stocks strong performance since its initial listing.
1:30.1	And when you think back to that journey of going public, what were some of the challenges that you faced?
1:36.2	Yeah, challenges was to build the equity story for Porsche based on a very consistent strategy of our business and then wins the investors of our business case and we did nine road shows in six different countries. We organized together with our banking partners
1:56.3	140 meetings met over 1,200 investors and answered over 3,500 questions.
2:06.6	We had a fantastic and very successful capital markets day where we were able to show the wide product range of exciting race cars to the
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