Volkswagen holding company Porsche SE posts loss of nearly €1 billion

German multinational Porsche SE on Wednesday reported a first-quarter net loss of €923 million ($1.08 billion) after a massive write-down on its stake in the Volkswagen Group.

The Stuttgart-based holding company saw losses drop slightly from €1.08 billion in the first quarter of 2025.

The firm, which is owned by the Porsche and Piech families, made a write-down of €1.3 billion on its stake in the Volkswagen Group.

Both Europe’s largest car manufacturer, Volkswagen, and its other major holding, the sports car manufacturer Porsche, are currently grappling with difficult market conditions and upheaval in the automotive industry.

Porsche SE chief executive Hans Dieter Pötsch said the company had achieved a profit on a consolidated basis adjusted for write-downs and was able to further strengthen its financing structure. 

"The start to the fiscal year is in line with our expectations," he said. "At the same time, the business models that have served our core investments well for a long time now need to be realigned. This requires the consistent implementation of intelligent solutions to sustainably strengthen competitiveness and profitability."

Consolidated profit, adjusted for depreciation, amortization and impairment losses, fell by just over a fifth in the first quarter to €382 million. 

Net debt stood at €5.15 billion, slightly higher than the €5.10 billion recorded at the end of 2025. 

The holding company Porsche SE continues to target an adjusted consolidated profit of between €1.5 billion and €3.5 billion for the full year and net debt of between €4.7 billion and €5.2 billion by the end of the year.