Disastrous Financial Year With Extraordinary Expenses

The 2025 financial year saw Group Sales revenue decline to €36.27 billion in 2025 (2024: €40.08 billion). Group operating profit fell from €5.64 billion to €413 million . The reasons for this were, among other things, extraordinary expenses of approximately€ 3.9 billion . These consist of the realignment of the product strategy and the rescaling of the company (approximately €2.4 billion), additional expenses from battery activities (approximately €700 million ) and US tariffs (approximately €700 million ).

The Group operating return on sales was a mere 1.1% (2024: 14.1%), which was within the last adjusted forecast. The Automotive EBITDA margin fell to 13.3% per cent (2024: 22.7%). This was above the last adjusted forecast.

“The global challenges and the company’s realignment impacted earnings in 2025. In 2026, our recalibration measures will continue to have one-off effects on earnings in the high three-digit million range. In order to secure adequate margins by Porsche standards in the medium term and strengthen our resilience in the long term, we accept these burdens,” said CFO Dr Jochen Breckner.

Porsche Group Forecast for 2026

• “Porsche AG is again anticipating very challenging market conditions for the 2026 financial year.
• For example in China, the luxury segment remains under pressure, and intense price competition, especially for fully electric vehicles, continues to have an impact.
• Porsche also expects geopolitical uncertainties and the US tariff policy to remain in place.
• The potential impact of recent developments in the Middle East, however, have not been taken into account.
• Based on these assumptions and additional one-off effects, Porsche expects a higher Group operating return on sales in the range of 5.5% to 7.5% for the 2026 financial year.
• This forecast includes assumed sales revenue in the range of around €35 to 36 billion. Porsche also expects a higher Automotive net cash flow margin, ranging between 3% and 5%.”

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