Porsche SE cuts 2026 adjusted net profit outlook after Volkswagen flags €6 billion goodwill write-down

• Porsche Automobil Holding cut its adjusted net profit outlook for fiscal 2026 to a range of EUR -0.5 billion to EUR 1.5 billion.
• The prior forecast was EUR 1.5 billion to EUR 3.5 billion.
• Revision follows Volkswagen’s updated fiscal 2026 target for operating return on sales of up to 1%, down from 4% to 5.5%.
• Volkswagen cited a non-cash goodwill impairment of about EUR 6 billion tied to its Porsche segment.
• Porsche SE said the impairment does not affect its adjusted or reported net profit, citing prior adjustments, and reaffirmed net debt of EUR 4.7-5.2 billion.

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