Porsche profit rebounds in nine-month period after restructuring costs

Business Recorder · 27/10/2026، 7:20:38 AM

BERLIN: Volkswagen’s embattled sports car maker Porsche on Tuesday reported a recovery in profit in the first nine months of the year, an early test of CEO Michael Leiters’ turnaround plan to downsize and retreat from China. Operating profit of €1.74 billion ($1.94 billion) followed a weak prior-year ⁠result of €40 million, when the carmaker was hit by €2.7 billion in costs largely related to its halted electrification strategy, the company said. “Even in a challenging market environment, Porsche is showing itself to be financially robust,“ Porsche finance chief Jochen Breckner said, confirming the carmaker’s guidance for 2026. Leiters was brought in at ⁠the start of the year to correct Porsche’s course. He plans to restore profitability with more customisation and exclusive higher-margin models. Declining sales in China have hit Porsche ⁠as well as parent Volkswagen and fellow subsidiary Audi, prompting a sweeping restructuring of the group. Porsche’s operating return on ⁠sales hit a record low of 1.1% in 2025 but improved to 6.9% in the ⁠nine-month period, within a targeted range of 5.5% to 7.5% for the full year.