STUTTGART (dpa-AFX) - Porsche Automobil Holding SE (PAHA.F, POAHY.PK), which holds majority stake in Volkswagen AG and Porsche AG, reported Wednesday a sharply lower profit in its first half.
Further, Porsche SE said it continues to expect a very strong improvement in the group result after tax for 2025 compared to the fiscal year 2024.
Meanwhile, the company trimmed its adjusted profit forecast for fiscal 2025 citing the current market developments, particularly in the automotive sector and as a direct consequence of the adjusted outlook of Volkswagen AG and Porsche AG.
For the fiscal year 2025, Porsche SE now expects an adjusted group result after tax of between 1.6 billion euros and 3.6 billion euros, compared to previously expected 2.4 billion euros and 4.4 billion euros.
The same applies for the adjusted result after tax for the core investments segment.
The first-half result after tax of Porsche SE Group came to 338 million euros, lower than 2.11 billion euros a year ago.
Adjusted result after tax was 1.11 billion euros, compared to prior year's 2.11 billion euros.
Of the adjusted result after tax, 1.08 billion euros relates to the core investments segment and 29 million euros to the portfolio investments segment.
Result from investments in the first half fell to 503 million euros from 2.25 billion euros last year. Adjusted investment result was 1.28 billion euros, down from 2.25 billion euros a year ago.
On the XETRA in Germany, Porsche SE shares were trading at 36.31 euros, up 0.22%.
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