Porsche AG announced on April 28, 2025, an adjustment to its forecasts for the current financial year. According to management, the main reasons behind this decision are special effects and strategic adjustments in the electric vehicle segment. There is no direct mention of external factors such as the economic situation in China or US import tariffs, although these may implicitly play a role.
Key Points of the Forecast Reduction
- Revenue Forecast: Reduction to €37–38 billion from the previous €39–40 billion.
- Operating Revenue Margin: Decline to 6.5–8.5% from 10–12% previously, representing a drop of up to 350 basis points.
- Electromobility: The BEV share remains at 20–22%, however, production plans for high-performance batteries through the subsidiary Cellforce are being halted.
Contextual Factors
Although not directly mentioned, external factors such as the cooling off of the China market, a significant sales area for premium vehicles, and increased US tariffs on Chinese electric cars could represent additional burdens.
Impact on Investors
The decreased net cash flow margin of 4–6% compared to the previous 7–9% could affect the stability of the dividend policy and the scope for investments. Equity and bond investors should expect increased volatility and slightly heightened credit risk.
Note on Data: The analysis combines official data with general market insights regarding current industry-wide challenges.
Comparison Table: Old vs. New Forecast
| Indicator | Previous Forecast | New Forecast |
|---|---|---|
| Revenue | €39–40 billion | €37–38 billion |
| Operating Revenue Margin | 10–12% | 6.5–8.5% |
| BEV Share | Unchanged | Unchanged |
For up-to-date developments, monitoring tools such as EQS ad-hoc reports are recommended.