German luxury car maker Porsche AG has reduced revenue, as well as net and operating profit in the first half of 2025.
According to the company’s report, its net profit in January-June fell to €724m from €2.15bn a year earlier, while operating profit fell to €1.01bn from €3.06bn. Meanwhile, analysts polled by Visible Alpha had on average expected operating profit of €897.7m.
Additional costs due to higher duties on US imports in the last half-year totalled around €400m, as did costs related to a change in battery production plans.
The operating profit margin in the January-June period fell to 5.5 per cent from 15.7 per cent a year earlier.
Porsche’s revenue fell to €18.16bn from €19.46bn. Experts on average had forecast 17.91 billion euros.
Over the past six months, the company delivered 146,400 cars – 6.1% less than in the same period a year earlier. The consensus was for a drop in deliveries to 144.5 thousand.
Porsche also worsened its profitability forecast for 2025 and now expects it to be 5-7%, not 6.5-8.5% as previously estimated. At the same time, the revenue forecast was confirmed at 37-38 billion euros.
The company’s preference shares are up 1.9 per cent in Wednesday trading.