Porsche AG, Volkswagen cut 2025 return on sales forecast

Porsche AG (DRPRF) updated its forecast for 2025 operating return on sales to slightly positive-2% from 5% to 7%. Volkswagen (VWAGY) )VWAGY) updated its forecast for 2025 operating return on sales to 2%-3% from 4%-5%). The adjustments are partly due to a non-cash impairment of goodwill amounting to EUR 3B, which is assigned to the operating segment Porsche within the Volkswagen Group. The companies said, “The non-cash impairment of approximately 3 billion euros at the Volkswagen Group level does not aff ect either theadjusted group result after tax for the group result after tax of Porsche SE, due to adjustments already made in previousyears at the Porsche SE level. The adjustment of the earnings forecast has no impact on the liquidity of Porsche SE Group. Therefore, Porsche SE confirms its forecast for the net debt of the Porsche SE Group as of 31 December 2025, which is expected to be between4.9 billion euros and 5.4 billion euros.”