Overview

• Porsche SE recorded a €1.08 billion net loss after tax in Q1 2025, compared to a €1.06 billion profit in the same period last year.
• The loss is attributed to non-cash impairments of €1.4 billion on Volkswagen AG and €168 million on Porsche AG stakes.
• Adjusted net profit dropped to €0.5 billion in Q1 2025, less than half of the €1.06 billion reported a year earlier.
• Despite the losses, Porsche SE reaffirmed its full-year adjusted profit target of €2.4–4.4 billion for 2025.
• Net debt increased slightly to €5.3 billion by the end of March 2025, driven by investments and financing costs.