Porsche AG: Q3 2025 results and impact of special costs
Earnings report
On 24 October 2025 the company released its third‑quarter earnings. Revenue declined in the period, and the company reported a significant drop in profit. The loss was largely attributed to the high cost of extending the internal‑combustion‑engine (ICE) product line. The special‑cost outlay has nearly eliminated the company’s operating margin in the first nine months of the year, with a 95.9 % decline in after‑tax profit compared with the same period in 2024.
Special‑costs and strategic shift
The ICE‑extension programme, intended to keep the brand’s traditional models profitable until regulatory deadlines, has cost the company approximately €3.1 billion over the first nine months. The expenses are classified as “special costs” and have eroded profitability. The board has announced a comprehensive restructuring of structure, cost base and product strategy for 2025, aiming to realign the portfolio for future growth.
Management outlook
Chief Executive Officer Oliver Blume, in a statement to Bild am Sonntag, indicated confidence in the company’s long‑term positioning. He noted that despite the current financial hit, Porsche remains well‑capitalised and well‑positioned to execute the new strategy. The CEO stressed that the company’s underlying business remains robust and that the restructuring will strengthen competitiveness.
Market reaction
Following the earnings announcement, Porsche’s shares fell by roughly 2 % in after‑hours trading on the Xetra exchange, reflecting investor concern over the sharp profit erosion and the large one‑off costs. The MDAX index moved slightly higher, but Porsche’s performance was a drag on the sector.
Summary of key figures
| Metric | 2025 Q3 | 2024 Q3 | Change |
|---|---|---|---|
| Revenue | Declined (exact figure not disclosed) | Not disclosed | – |
| Net profit | Significant decline due to €3.1 billion special costs | Not disclosed | – |
| EBIT margin | Approaching zero | Not disclosed | – |
| Market price (23 Oct) | €47.16 | – | – |
| 52‑week high | €70.42 | – | – |
| 52‑week low | €39.58 | – | – |
| Market cap | €39.5 bn | – | – |
Porsche AG’s recent performance illustrates the financial impact of its transition strategy from internal‑combustion to electrified vehicles. While the company’s share price reacted negatively to the earnings report, management’s confidence in the new strategy may influence future investor sentiment.
