Porsche AG first quarter 2025 results
Porsche announced its first quarter 2025 results and full-year 2025 earnings forecasts on April 28 and 29, 2025.
As announced at the annual conference in March 2025Porsche AG reported that it will incur short-term burdens as it continues to invest aggressively for the future through the first quarter of 2025.
Porsche's first quarter (January to March 2025) results were sales of 8.86 billion euros (previous year: 9.01 billion euros) and group operating profit of 760 million euros (previous year: 1.28 billion euros).
Group operating profit margin was 8.61 TP1T (previous year: 14.21 TP1T).
The Automotive division's net cash flow was EUR 19,800 (previous year: EUR 10,700).
| Porsche AG | Q1 2024 | Q1 2025 | Rate of increase/decrease |
| Sales | 9.01 billion euros | €8.86 billion | -1.7% |
| Operating income | €1.28 billion | 760 million euros | -40.6% |
| Operating profit margin | 14.2% | 8.6% | |
| Number of vehicles delivered | 77,640 units | 71,470 units | -7.9% |
Porsche AG full-year forecast for 2025
Porsche AG also announced its earnings forecast through 2025, which was revised further downwards from the figures announced in March.
The contents are as follows:
- Sales: 37-38 billion euros (previous forecast: 39-40 billion euros)
- Profit margin on sales: 6.5% to 8.5% (previous forecast: 10% to 12%)
- Automotive division net cash flow margin: 4% to 6% (previous forecast: 7% to 9%)
- EBITDA margin for the automotive division: 16.51 TP1T to 18.51 TP1T (previous forecast: 191 TP1T to 211 TP1T)
- BEV share in the automotive sector: 20% to 22% (previous forecast: 20% to 22%)
Plans to expand in-house battery production canceled
In addition, in response to the slowing take-off of electric mobility, Porsche AG announced a strategic restructuring of its battery business.
Plans to expand production of high-performance batteries by Cellforce Group GmbH, a subsidiary of Porsche AG, have been cancelled.
This, together with negative effects from other battery businesses, is expected to increase special charges in total from EUR 800 million to EUR 1.3 billion in fiscal 2025, impacting the company's results.
By the way, Porsche acquired a majority stake in V4Smart GmbH & Co. KG in March. According to the investment agreement between Porsche AG and Varta AG, Porsche will invest in the development and production of large lithium-ion battery cells. Through this investment, Porsche aims to secure a supply of high-performance battery cells.
Porsche GA also holds shares in Varta AG.
Future sales in China
Additionally, Porsche AG has adjusted its value-driven supply management globally in response to increasing challenges posed by the geopolitical situation, and this is particularly true for the Chinese market.
Continuing challenging market conditions in China and declining demand in Porsche's higher-priced electric vehicle segment are expected to impact financial year 2025.
Nevertheless, Porsche will continue to focus on "value-based sales."
However, Porsche CEO Oliver Blume reportedly said at the 2025 Shanghai Motor Show that "we will assess in the next two to three years whether Porsche can continue to exist as an electric brand in China," so it has been reported that it is possible that Porsche may withdraw from its EV business in China.
If we say that, then if EVs stop selling at all in Japan, they'll probably say, "Hmm, EV sales in Japan are poor, so let's withdraw from the Japanese market as well!"
No, it wouldn't happen because it's a small market to begin with (laughs).
US import tariffs introduced
Another painful event for Porsche was the introduction of import tariffs in the United States.
This is expected to have a negative impact in April and May 2025, and the adjusted forecast includes this impact, but the adjusted forecast does not take into account the further impact of the introduction of US import tariffs.
The reason given is that at this point it is not possible to make a reliable assessment of the impact on the full year, but it is certainly true that it is impossible to make predictions unless we know what the United States will do in the future.
It's going to be a tough year for Porsche.
Disclaimer:
This press release contains forward-looking statements and information on the currently expected business development of Dr. Ing. hc F. Porsche AG. These statements involve risks and uncertainties. They are based on assumptions about the development of the economic, political and legal framework in individual countries, economic regions and markets, in particular for the automotive industry, which we have made on the basis of the information available to us and which we consider realistic at the time of publication. Should any of these or other risks materialise, or should the assumptions underlying these statements prove incorrect, actual results could differ materially from those contained or implied by such statements. Forward-looking statements in this release are solely based on the findings as of the date hereof. We do not subsequently revise forward-looking statements. Such statements are valid as of the date they are published and may be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy securities.
Source:
◆(Official) Porsche invests decisively in its future
◆(Official)Dr. Ing. hc F. Porsche Aktiengesellschaft adjusts forecast for the financial year 2025
◆Porsche Could Quit EVs In China
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Related article:
◆Porsche Summary for 2024: Annual Press Conference 2025
◆Porsche acquires VARTA's battery cell business "V4Drive" to become V4Smart
I'm Rika, the author of this article. Since I got my hands on a Porsche 911, I've been completely hooked on Porsches and I can't stop loving them, so I started this blog. My favorite cars are the 911 Carrera (2/991), 911 Carrera Cabriolet & 911 Carrera T (1/992), GT3 (1/997) and 718 Cayman GT4 RS.
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