Porsche AG's first-half 2026 results: Achieving further milestones in strategic restructuring.

Posted: Posted:July 29, 2026

Operating profit is projected to increase by 33.9% in the first half of 2026.

Porsche AG has released its financial results for the first half of 2026 (January-June).

Porsche AG CEO Michael Leiters reported, "The Porsche team has been working very intensively and with great discipline on strategy development over the past six months."

The recently announcedFuture Package"This is a key component in making Porsche a competitive, efficient, and resilient company in the long term, and therefore Porsche is confident that it can achieve its goals."

However, it is said that there is still a lot of work to be done.

Jochen Breckner, Executive Officer in charge of Finance and IT, said

"Our first-half financial figures are in line with our expectations. Our rigorous cost control and value-over-volume strategy are beginning to have a positive effect, and despite the challenging market environment, this gives us reason to reaffirm our full-year forecast."

And comment.

The announced results for the first half of 2026 are:

Porsche AG's consolidated sales: €17.23 billion (compared to €18.16 billion in the same period last year)
Group operating profit: €1.35 billion (compared to €1.01 billion in the same period last year)
- The reasons are strict control over costs, pricing, and product mix, and a strategy that prioritizes value over quantity.
Strategic restructuring measures resulted in a net cost of approximately 100 million euros in the first half of the year.
The approximately €400 million burden from ongoing restructuring measures was largely offset by an agreement with suppliers, which allowed for the write-off of approximately €300 million in provisions set aside in the previous year in connection with adjustments to product strategy (net expenses for the same period last year were approximately €800 million).
Group operating profit margin: 7.8% (same period last year: 5.5%)
EBITDA margin for the automotive business: 18.3% (compared to 16.0% in the same period last year)

The future package is said to bring additional costs in the short term, with "related restructuring costs expected to reach several hundred million euros in the second half of 2026."

Furthermore, organizational reform measures are expected to continue next year, reaching several hundred million euros by 2027, although it is said that there is confidence that this expenditure will be recouped quickly.

Despite external headwinds, net cash flow increased.

Number of vehicles delivered in the first half of 2026: 122,306 units (compared to 146,391 units in the same period of the previous year)
Battery electric vehicle share (BEV share): 19.41 TP 1T (same period last year: 23.51 TP 1T)
Net cash flow in the automotive division: €1.02 billion (compared to €394 million in the same period last year)
- The increase in net cash flow is primarily due to increased cash inflows from operating activities, disciplined working capital management, and decreased cash outflows from investing activities.
Automotive division's net cash flow margin: 6.71 TP1T (Year-on-year: 2.41 TP1T)
Net liquidity of the automotive division: 7.3 billion euros
In the first half of 2026, an additional contribution of €250 million strengthened the pension system.

The 'Sportwagenschmiede 35' strategy is nearing completion.

Porsche's new strategy, which is scheduled to be announced on October 7, 2026, is also expected to be finalized soon.

This new strategy isStrategy 2035 (Sportwagenschmiede 35)Porsche emphasizes that this initiative aims to strengthen Porsche's profitability, cash flow, and resilience over the next few years.

Porsche commented that it aims to be a company that is firmly aligned with its core business, focusing on its brand, customers, and products.

Furthermore, adapting the organizational structure and streamlining operations at all levels is also considered a crucial element of the strategy.

Accordingly, Porsche reduced the number of management committee departments from eight to seven. As of July 1, 2026,The automotive IT division has been dissolved and integrated into the research and development division.It has been.

Full-year earnings forecast for 2026

In addition, the company also announced its full-year earnings forecast for 2026. This forecast is based on the figures in the table below:

Sales: €35 billion to €36 billion
Sales operating profit margin: 5.5-7.5%
Automotive division's net cash flow margin: 3-5%
EBITDA margin for the automotive business: 15-17%
BEV market share in the automotive sector: 24-26%

Porsche AG Group	First half of 2026	First half of 2025
Sales	17.23 billion euros	18.16 billion euros	-5.1%
Operating income	1.35 billion euros	1.01 billion euros	+33.9%
Operating profit margin	7.8%	5.5%
Number of vehicles delivered	122,306 units	146,391 units	-16.5%

Disclaimer

*The following is the Disclaimer published by Porsche AG in this announcement.

This press release contains forward-looking statements and information that reflect Dr. Ing. hc F. Porsche AG's current views about future events. These statements are subject to many risks, uncertainties, and assumptions. materializes or if the assumptions underlying any of the forward-looking statements prove to be incorrect, the actual results may be materially different from those Porsche AG expresses or implies by such statements. Forward-looking statements in this presentation are based solely on the circumstances at the date of publication. We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.

Source:(Official)Porsche AG achieves further milestones and stabilizes profitability

Rika (911supercars.com)

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.

911Supercars in the article

-Porsche: Porsche
-Management information, main specifications, production volume, price list

カート好きの還暦 says:

2026年7月31日 at 10:17 PM

Despite the ups and downs, Porsche seems to be looking forward. Ultimately, the one who gets rid of the problems first wins, and to put it simply, the only negative is the 50% reduction in Cayenne sales in China.
I think the details will be revealed in Strategy 2035, but I heard on my PC today that the previously mentioned ICE version of the 718 will definitely be released. The EV version will come out first, and the ICE version will be a PHEV and development is already in the final stages.

While taking delivery of my 992 and getting my Macan's second-year inspection, I was also shown three Turbo S models that were awaiting delivery. There were also PTS models available, but the delivery times were the same or even shorter, and it seems that priority is still given to expensive options.

Reply
- Rika (911supercars.com) says:
  
  2026年8月1日 at 12:00 AM
  
  60th birthday who likes carts
  Good evening. Porsche has stated that they will release a higher-end version of the 718 with an ICE engine, but it seems that they will also be releasing an ICE (PHEV) version of the regular (I'm not sure if that's the right way to put it) 718!
  
  We've heard it's going to be released, and then later there have been reports that "the plan has been cancelled," so we have no idea what's going to happen. But I'm hoping that the announcement of Strategy 2035 will give us a little more clarity.
  
  A Turbo S with PTS? That's fantastic! My family usually only goes for small options... (lol).
  
  Reply
  - カート好きの還暦 says:
    
    2026年8月1日 at 11:52 PM
    
    I forgot to ask if the higher-end version is a PHEV, but apparently the standard ICE is the GTS4.0, while the higher-end version uses the RS engine. The RS isn't a detuned version, but rather has the same settings as the GT3RS.
    However, the answer varies each time I hear it, so I can't guarantee its accuracy.
    What's concerning is that even if the 718 is equipped with a naturally aspirated engine, it will be difficult to convert it to a PHEV, and the 911 GT3 may also be turbocharged to comply with Euro 7 regulations.
    
    Reply
    - Rika (911supercars.com) says:
      
      2026年8月5日 at 11:39 AM
      
      60th birthday who likes carts
      So, it's difficult to convert the 718 to a PHEV, right?
      
      There was some talk in overseas media a while ago that the GT3 might get a turbocharger, but I think it's still uncertain whether that will actually happen, so I'm watching it with the hope that it won't.
      
      Reply
      - カート好きの還暦 says:
        
        2026年8月6日 at 4:09 PM
        
        I apologize for my lack of clarity.
        The ICE version of the 718 appears to be a 4L naturally aspirated engine, and both the higher-end and standard versions are either PHEV or PHEV/MHV.
        The 911 GT3 RS is proving difficult to convert to a PHEV (plug-in hybrid electric vehicle), so it will likely be turbocharged, and there's also a possibility of a MHV (motor hybrid vehicle) version.
        In any case, future ICE trains may need to be equipped with some form of motor to comply with Euro 7 standards.
      - Rika (911supercars.com) says:
        
        2026年8月8日 at 4:50 PM
        
        60th birthday who likes carts
        Ah, I see. So, the ICE version of the 718 (a higher-end model) might not be a purely internal combustion engine, but rather a PHEV or MHEV. I see!
        
        Oh, really?!

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