Porsche AG reports resilient cash flow as strategic realignment impacts profit

Porsche AG posts €1.34 billion cash flow despite a 99% drop in profit due to its product strategy realignment, tariff impacts, and shifting EV timelines.

Despite global economic headwinds and weakness in China, Porsche AG closed the first nine months of 2025 with a positive automotive cash flow of €1.34 billion, underscoring its resilience amid major strategic changes. At the same time, operating profit fell sharply to €40 million, reflecting restructuring costs and extraordinary expenses.

Group revenue amounted to €26.86 billion, down six percent year on year. The decline was driven primarily by flexibility costs in the product portfolio, adjustments to battery activities, and the new 15 percent U.S. import tariff effective since August. In total, Porsche estimates roughly €3.1 billion in expenses related to the realignment and tariffs.

Instead of rapidly expanding its electric vehicle lineup, the company is adjusting course: new combustion and plug-in hybrid models will temporarily play a greater role, while launches of several fully electric vehicles have been postponed. The next-generation electric platform for the 2030s will be developed jointly with other Volkswagen Group brands. Meanwhile, existing all-electric models such as the Taycan and Macan continue to be updated.

Between January and September 2025, Porsche delivered 212,509 vehicles to customers worldwide — six percent fewer than in the previous year. However, the share of electrified models rose to 35.2 percent, reaching 56 percent in Europe. The Macan recorded a notable 18 percent increase in deliveries.

Chief Financial Officer Jochen Breckner emphasized that Porsche is consciously accepting temporarily weaker figures to strengthen its long-term position. He described 2025 as “the trough that precedes a noticeable improvement” expected from 2026 onward.

At the same time, discussions have begun with employee representatives regarding the so-called Future Package — a comprehensive initiative aimed at improving efficiency and safeguarding profitability. No official outcomes have been announced yet.

Porsche maintains its forecast for annual revenue between €37 and €38 billion, expecting a return on sales between zero and two percent. According to management, strong financial fundamentals and a renewed strategic focus will form the basis for Porsche’s next stage of sustainable, exclusive growth.