Porsche SE Profit Falls to €1.6 Billion as Volkswagen and Porsche AG Gains Ease
Porsche Automobil Holding SE reported on Tuesday that its adjusted group result after tax fell to €1.6 billion for the first nine months of 2025, compared with €2.5 billion in the same period last year. The German holding company projected a full-year profit between €0.9 billion and €2.9 billion.
Lower Contributions from Volkswagen and Porsche AG Impact Results
The company, which holds major stakes in Volkswagen AG and Dr. Ing. h.c. F. Porsche AG, said its performance was primarily shaped by equity income from those investments.
Volkswagen AG contributed €1.7 billion, while Porsche AG added €0.1 billion to the group’s earnings. Overall, Porsche SE’s group result after tax totaled €1.2 billion, down from €2.5 billion a year earlier.
Debt Reduction and Refinancing Strengthen Financial Structure
As of September 30, Porsche SE reported group net debt of €5 billion, slightly lower than the €5.2 billion recorded at the end of 2024.
During the third quarter, the company issued a €1.5 billion Schuldschein loan, using the proceeds to repay an earlier bank loan and a tranche from a 2023 Schuldschein issue. These steps reduced gross debt and strengthened its financing structure.
In October, Porsche SE also renegotiated an undrawn revolving credit facility on favorable terms, further enhancing its financial flexibility.
“Through beneficial refinancing and repayment of liabilities, we have successfully optimized our financing structure,” said Dr. Johannes Lattwein, member of the management board responsible for finance and IT.
He added that these measures leave Porsche SE in a resilient financial position, even amid a challenging automotive market environment.
Focus on Investment Flexibility and Strategic Growth
Porsche SE said its stronger balance sheet improves both financial and operational flexibility, allowing it to pursue new investment opportunities across mobility and industrial technology sectors.
As part of its investment strategy, the company continues to monitor developments in defense capability and security. Earlier this month, it hosted a “Defense Day” event in Germany, connecting European and family office investors interested in the defense sector.
For the 2025 fiscal year, Porsche SE expects net debt between €4.9 billion and €5.4 billion, supported by ongoing optimization of its financing and capital structure.
The Stuttgart-based holding company recorded an adjusted after-tax profit of €3.2 billion in the previous fiscal year. It owns the majority of ordinary shares in Volkswagen AG and 25% plus one share of ordinary stock in Porsche AG.
Beyond its automotive holdings, Porsche SE also maintains minority stakes in technology companies across North America, Europe, and Israel, along with positions in private equity and venture capital funds.
