Current Forecast for 2025
- Revenue: Porsche now expects revenue of 37 to 38 billion euros, a decrease from the original forecast of 39 to 40 billion euros.
- Operating Revenue Margin: The operating revenue margin is adjusted down to 6.5 to 8.5%, down from an initial expectation of 10 to 12%.
- Net Cash Flow Margin for Automobiles: This is reduced to 4 to 6%, after previously forecasting 7 to 9%.
- EBITDA Margin for Automobiles: The EBITDA margin is decreased to 16.5 to 18.5%, down from the original expectation of 19 to 21%.
- Share of Battery Electric Vehicles (BEV): The share remains unchanged at 20 to 22%.
Reasons for the Adjustment
The adjustment of the forecast is due to several factors:
- Weak Demand in China: Demand in China is slower than expected, negatively affecting revenues.
- Strategic Adjustments in Battery Production: Porsche has decided not to independently pursue its plans for high-performance battery production through the Cellforce Group. This leads to increased special expenses.
Deliveries in the First Quarter of 2025
In the first quarter of 2025, Porsche delivered approximately 71,500 vehicles worldwide, representing a decrease of about 7.9% compared to the same quarter of the previous year.
Outlook
The adjustment of the forecast reflects the challenges faced by Porsche and the entire automotive industry, particularly in terms of the transition to electric mobility and the volatile market conditions in key sales markets such as China.