Porsche SE reports 2.2 billion euro loss due to Volkswagen stake write-down
Majority shareholder urges Volkswagen to act quickly on cost-cutting and capacity issues
Talivio News · Global2 min read
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Porsche SE reported a net loss of 2.2 billion euros in the first half of 2026, following write-downs on its stake in Volkswagen. The adjusted group result after taxes fell to 0.9 billion euros during the same period, attributed to weak performance at Volkswagen and Porsche AG. This is a decrease from the 300 million euro profit recorded in the previous year.
2.2 billion euros
Porsche SE net loss in the first half of 2026
The write-down on the Volkswagen stake was reported to be 3 billion euros in the first half of 2026. Additionally, the write-down on the Porsche AG stake amounted to 200 million euros during the first half of the year. While Porsche AG increased its profit by one third compared to the previous year, Volkswagen's net profit fell by almost one third in the first half of the year.
Calls for swift action at Volkswagen
Hans Dieter Pötsch, the CEO of Porsche SE, stated that the Volkswagen Group is at a historical turning point. He added that current decisions are about the future of Volkswagen. 'The longer decisions are delayed, the greater the problems become,' Pötsch said. Porsche SE, as the majority voting shareholder of Volkswagen, is urging the carmaker to move quickly on cutting costs and excess capacity to return to competitiveness.
The demand for action follows the rejection of Volkswagen CEO Oliver Blume's cost-cutting plan by the VW Supervisory Board at the end of June, which faced resistance from employee representatives and the state of Lower Saxony. Following 50,000 jobs already cut worldwide, Blume has questioned approximately 50,000 additional jobs and four plants in Germany.
Johannes Lattwein, the CFO of Porsche SE, stated that the holding company supports the Group Executive Board's proposals. Lattwein noted that the goal is competitiveness and that there should be no 'prohibitions on thinking' on the way there.
Porsche SE financial outlook
Porsche SE indicated it aims for an adjusted group result of between 1.5 billion and 3.5 billion euros for the full year. The company also indicated it aims for a net debt between 4.7 billion and 5.2 billion euros by the end of the year. At the end of June, Porsche SE's debt decreased slightly to 5 billion euros, according to company reporting.
Updates
Porsche SE has approved a new restructuring plan targeting 5,000 additional job cuts by 2035 at its Stuttgart-Zuffenhausen and Weissach sites, while extending protection against operational dismissals at its Stuttgart facilities until end-2035; CEO Hans Dieter Pötsch emphasized 'Everything else must take a back seat,' as Volkswagen CEO Oliver Blume proposed closing four German plants and eliminating up to 50,000 more jobs globally, though Lower Saxony reportedly opposed the plan in June.
Porsche SE has approved a new restructuring plan targeting 5,000 additional job cuts by 2035 at its Stuttgart-Zuffenhausen and Weissach sites, while extending protection against operational dismissals at these locations until end-2035; CEO Hans Dieter Pötsch emphasized that 'Everything else must take a back seat,' as Volkswagen CEO Oliver Blume proposed closing four German plants and eliminating up to 50,000 more jobs globally — a plan opposed by Lower Saxony, a VW shareholder, though these broader VW measures remain unverified.
Porsche SE has approved a new restructuring plan targeting 5,000 additional job cuts by 2035 at its Stuttgart-Zuffenhausen and Weissach sites, while extending protection against operational dismissals at its Stuttgart facilities until end-2035; CEO Hans Dieter Pötsch emphasized that 'Everything else must take a back seat,' as Volkswagen CEO Oliver Blume proposed closing four German plants and eliminating up to 50,000 more jobs globally, though Lower Saxony’s opposition to the plan remains unverified.
Porsche SE approved a new cost-cutting plan targeting 5,000 additional job reductions by 2035 at its Stuttgart and Weissach sites, while extending protection against operational dismissals until end-2035; its adjusted half-year profit fell 14.5% to €949 million, shares dropped up to 1.7%, and CEO Hans Dieter Pötsch declared 'Everything else must take a back seat' — a stance criticized by IG Metall, which accused the Porsche-Piech families of prioritizing dividends over worker livelihoods, while Volkswagen’s planned global job cuts of up to 50,000 more and plant closures face opposition from Lower Saxony and works councils.
