Good overview.
Just two small improvement suggestions.
- It is always good to add absolut numbers so it’s easy to maintain a good overview of what is important and not only relative changes.
As you highlight dependence on North America it would be good to add absolut numbers to the regional line as well in addition to the y/y changes.
Deliveries were strong in North America (+37%) and weaker in China (-42%) and Germany (-34%).
- In addition it is good if you remind readers (incl. me) on the impact of tariffs on Porsche. So you could add as a subordinate clause that all Porsche cars into the United States get imported from Germany. (If this is the case - i am not sure anymore). Reminders like this even if clearly established before can be important because people (incl. me) can keep forgetting about it.
If new tariffs take effect, they could significantly impact performance in future quarters.
Standard elements like those (absolut numbers, reminders) and their importance should be captured into our guidebooks so that we are consistenly building knowledge of how to work and structure things in the best possible way.