Porsche Automobil (PAH3) Q4 2024 earnings summary

Executive summary

• Group result after tax for 2024 was € -20.0 billion, with an adjusted group result after tax of € 3.2 billion, reflecting significant impairments on core investments.

• Net debt reduced to € 5.2 billion as of year-end 2024.

• Proposed dividend for 2024 is € 1.910 per preference share and € 1.904 per ordinary share, totaling € 584 million.

Financial highlights

• Adjusted group result after tax for 2024 was € 3.2 billion, down from € 5.1 billion in 2023.

• Group net debt at year-end 2024 was € 5.2 billion, improved from € 5.7 billion in 2023.

• Volkswagen Group revenue reached € 324.7 billion (up from € 322.3 billion), but operating result before special items fell to € 19.1 billion (from € 22.5 billion).

• Porsche AG Group revenue was € 40.1 billion (slightly down from € 40.5 billion), with operating result at € 5.6 billion (down from € 7.3 billion).

Outlook and guidance

• Adjusted group result after tax for 2025 is expected to range between € 2.4 and € 4.4 billion.

• Group net debt as of December 31, 2025, is forecasted between € 4.9 and € 5.4 billion.