Porsche Automobil Holding SE started the 2026 financial year with a decline in profits, but met its own expectations.
A billion-dollar write-down on its stake in the Volkswagen Group has dragged the owner holding company Porsche SE deep into the red in the first quarter of 2026. The bottom line is that the investment company made a loss of 923 million euros, as the DAX company announced in Stuttgart. In XETRA trading, the share temporarily fell by 2.37 percent to 31.25 euros.
A year earlier there was a slightly larger deficit of 1.08 billion euros. The holding company owned by the Porsche and Piech families made a value adjustment of 1.3 billion euros on the book value of the investment in Volkswagen.
Both Europe’s largest car manufacturer, Volkswagen, and its other major holding, the sports car manufacturer Porsche AG, are currently struggling with difficult market conditions and the upheaval in the automotive industry.
Porsche SE CEO Hans Dieter Pötsch said that the company was able to make a profit on the consolidated result adjusted for depreciation and further strengthen its financing structure. “However, the business models of our core investments, which have worked well for a long time, must fundamentally be aligned with new market conditions.” Pötsch referred to the ongoing savings programs for the core investments.
The consolidated profit adjusted for depreciation and value adjustments fell by a good fifth to 382 million euros in the first quarter. At 5.15 billion euros, net debt was slightly higher than at the end of 2025 at 5.10 billion euros. The investment holding company Porsche SE continues to aim for an adjusted consolidated result of 1.5 billion to 3.5 billion euros for the full year and a net debt of between 4.7 billion and 5.2 billion euros at the end of the year.
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STUTTGART (dpa-AFX)
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