Vicky McKeever writes:
In Germany, luxury carmaker Porsche (P911.DE) reported a drop in annual profits in its results, published on Wednesday.
The company’s operating profit came in at €413m (£357m) for 2025, which was 92.7% lower than the previous year.
Porsche (P911.DE) posted sales revenue of €36.27bn for its 2025 fiscal year, which 9.5% lower than 2024. Deliveries to customers fell 10.1% to 279,449 units.
The company said it was accelerating the further development of its product strategy, as well as streamlining its management structure and reducing costs in all areas.
“Since I took office, our management team has systematically analysed the situation and begun a series of initial targeted measures,” said Michael Leiters, who became CEO of Porsche (P911.DE) in January.
“We will streamline our management structure, reduce hierarchies and cut back on bureaucracy,” he said. “We have also already begun to focus more strongly on our core business.”
The carmaker said it was once again anticipating “very challenging market conditions” for the 2026 financial year, citing pressure on the luxury market in China, as well as price competition and geopolitical uncertainty. With that in mind, Porsche (P911.DE) guided to sales revenue in the range of around €35bn to €36bn for the year ahead.
Porsche (P911.DE) shares edged up less than 1% on Wednesday morning but are down 17.4% year-to-date.