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Porsche SE, the holding company of Porsche AG, announced it expects impairments on its stake in the luxury carmaker to nearly double, reaching €2.5 billion to €3.5 billion ($3.63 billion). The company also revised its expected writedowns related to Volkswagen, its largest shareholder, toward the higher end of its previous €7 billion to €20 billion range. Volkswagen declined to comment.
Porsche SE stated that these impairments will impact its annual financial results but to a lesser extent. Meanwhile, Porsche AG revealed that expenses for vehicle development and battery advancements will weigh on its 2025 operating profit and automotive net cash flow by up to €800 million. The company projects 2025 sales revenue of €39 billion to €40 billion and an automotive net cash flow margin between 7% and 9%.
Facing sluggish earnings and declining sales in China, Porsche AG is expanding its product lineup to include combustion engine and plug-in hybrid models. Additionally, the company plans to adjust its corporate structure.
The supervisory board of Porsche AG has initiated discussions to end Chief Financial Officer Lutz Meschke’s and sales executive Detlev von Platen’s contracts early. In October, Porsche AG announced cost-cutting measures as German luxury automakers struggled with weak demand at home and in China. Sales data from 2024 indicated that high-end consumers held back on purchases due to economic uncertainty and slower-than-expected electric vehicle adoption.
As Porsche navigates financial pressures and market headwinds, its strategic focus on diversified powertrains and operational restructuring aims to strengthen its position amid a challenging automotive landscape.
