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.
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.
