Porsche SE profits sink as Porsche AG woes continue
By Benjamin Chiou
Date: Tuesday 11 Nov 2025
(Sharecast News) - Net profits at Porsche Automobil Holding (Porsche SE) more than halved over the first nine months of the year as the holding company was hit by problems at part-owned Porsche AG and Volkswagen.
Porsche SE, which owns 12.5% of Porsche AG and 31.9% of Volkswagen AG, reported adjusted earnings after tax at €1.6bn over the January to September period, down from €2.5bn the year before.
The holding company said results were "significantly influenced" by equity accounting for the investments in Volkswagen AG and Porsche AG of €1.7bn and €0.1bn, respectively.
Porsche SE said that unadjusted earnings after tax fell to just €1.2bn from €2.5bn the year before.
Porsche AG has faced a surge in costs so far this year as it delayed the rollout of a new electric model, and had to contend with increased trade tariffs and weak demand in China.
On a adjusted basis, Porsche SE expects to report a net profit of €0.9bn-2.9bn for 2025.
"Thanks to the beneficial refinancing and repayment of financial liabilities, we have successfully optimised our financing structure," said finance and IT boss Johannes Lattwein.
"This underscores that we as Porsche SE are in a resilient position with our financial profile, even in the challenging environment in the automotive industry."
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