Porsche Ag · XETR:P911
Porsche — Dr. Ing. h.c. F. Porsche — Q3 2025 Earnings Presentation
58 slides from Porsche's earnings presentation, Oct 24, 2025
Slide 1: Porsche Press & Analyst Call Q3 2025
PORSCHE Press & Analyst Call Q3 2025 STUT TGART, OCTOB ER 2 4 DR. ING. H.C. F. PORSCHE AG 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and prove to be incorrect, the actual results may be materially information that reflect Dr. Ing. h.c. F. Porsche AG's current views different from those Porsche AG expresses or implies by such about future events. These statements are
Slide 3: Porsche – A unique Story
Porsche – A unique Story ICONIC RESILIENT S U S TA I N A B L E PERFORMANCE BRAND PERFORMANCE LUXURY C U LT U R E 911 Turbo S (WLTP, preliminary values): Fuel consumption combined: 11.8 – 11.6 l/100 km; CO₂ emissions combined: 266 – 262 g/km; CO₂ class: G; Status 10/2025 3
Slide 4: We have a strong foundation
We have a strong foundation CUSTOMER PRODUCT BRAND STRONG CUSTOMER DESIR ABLE PRODUCTS STRONG BR AND BASE BAL ANCED DRIVE TR AIN HERITAGE & UNIQUE COMMUNIT Y OFFERING E XCLUSIVIT Y E XCEPTIONAL INDIVIDUALISATION PERFORMANCE & CUSTOMER LOYALT Y E XPERIENCE MOTORSPORTS 4
Slide 5: Porsche Product Lineup
Porsche Product Lineup NE W NE W NE W NE W NE W 5
Slide 6: Resilient deliveries and strong customer base in North America
Resilient deliveries and strong customer base in North America Deliveries to North American Customers YTD Q3 2025 vs. Q3 2024 total and per model line +4.8% Strongest 911 Market 64.446 61.471 Top Ranking in J.D. Power’s APEAL study1 UNITS Tariff mitigation in process Utilization of pricing strategie
Slide 7: Porsche BEV/PHEV performance significantly ahead of total market
Porsche BEV/PHEV performance significantly ahead of total market Total Automotive Market1 Porsche BEV/PHEV-Share BEV/PHEV-Share H1/253 PHEV 57% BEV 21% 35% 24% 16% 12% n/a 7% 36% 23% 16% 17% WORLDWIDE EUROPE 2 WORLDWIDE EUROPE 2 1 Source: S&P Global Mobility - MarketInsight (Data Status 06/2025) l 2
Slide 8: All-electric Macan and Taycan with strong development in Europe
All-electric Macan and Taycan with strong development in Europe Porsche Segment Share1 Over 50% of Porsche deliveries in Europe are now electrified All models Taycan Segment Macan BEV Segment In Europe, Porsche performed above the globally formulated IPO target in 2025 16% 22% 33% Exclusive segment
Slide 9: We continuously adapt our strategy to respond to the new situation
We continuously adapt our strategy to respond to the new situation with the greatest possible flexibility Strategy 2030 PLUS CUSTOMER PRODUCT SUSTAIN- TRANS- ABILITY FORMATION QUALITY BEV ADAPTION GEOPOLITICAL S U P P LY TENSIONS CHAIN 9
Slide 10: Extensive measures initiated to strengthen financial resilience
Extensive measures initiated to strengthen financial resilience ENVIRONMENT REACTION: STRATEGIC REALIGNMENT China Product Portfolio Focus on the Core Push-to-Pass Structural Package - in negotiation - US EFFECT BEV-Transition Short-term (2025) Mid- / Long-term Extraordinary expenses in connection In
Slide 11: Aligning Product Strategy with new market expectation
Aligning Product Strategy with new market expectation Previous ~80% Planning Market Expectation Current Planning 12.7% 2024 BEV share based on customer deliveries 11
Slide 12: Balanced offering of combustion engines, plug-in hybrids and purely electric drives
Balanced offering of combustion engines, plug-in hybrids and purely electric drives well into the 2030s ICE PHE V BE V 12
Slide 13: Porsche Product Strategy
Porsche Product Strategy Now Mid-Term Long-Term Sports Cars 01 02 ICE /PHE V SUV Strengthening Higher flexibility Brand Core ICE/PHEV Sedan 03 04 05 Sports Cars Successful BEV Extended BEV Future BEV entry portfolio BE V SUV range Taycan & Macan Cayenne & 718 New BEV platform Sedan 13
Slide 14: Strengthening our brand core
STRENGTHENING OUR BRAND CORE 911 Dakar (WLTP): Fuel consumption combined: 11.3 l/100 km; CO₂ emissions combined: 256 g/km; CO₂ class: G; Status 09/2025 14
Slide 15: Holistic Brand Experience as Top Priority
Holistic Brand Experience as Top Priority IT'S NOT WHAT YOU BUY, IT'S WHAT YOU BUY INTO. 15
Slide 16: Strengthening Brand Core with HALO Strategy and Lighthouse Projects
Strengthening Brand Core with HALO Strategy and Lighthouse Projects GT ADVENTURE HERITAGE URBAN ULTIMATE OUTDOOR SPORTS ICONIC DESIGNS COSMOPOLITAN PERFORMANCE AND ADVENTURES AND MATERIALS DESIGN TRACK LIFESTYLE Cayenne Turbo GT - no offer in Europe; 911 Dakar (WLTP): Fuel consumption combined: 11.3
Slide 17: Limited to just 1.500 examples
SPIRIT 70 C O M B I N E S O U R H E R I TA G E LIMITED TO JUST W I T H S TAT E - O F - T H E - A R T S TA R T I N G AT 1.500 EXAMPLES TECHNOLOGY € 240.000 911 Spirit 70 (WLTP)*: Fuel consumption combined (model range): 10.8 – 10.7 l/100 km, CO₂-emissions combined (model range): 246 – 242 g/km 17
Slide 18: 911 Turbo S
Performance 523 kW 711 PS 0 – 100 km/h TURBO S 2.5 s Top Speed 322 km/h Nordschleife Around 14 seconds faster than its predecessor (7:03.92 min) Tech Highlights T-Hybrid (Bi-Turbo) Active Aerodynamics 911 Turbo S (WLTP): Fuel consumption combined: 11.8 – 11.6 l/100 km; CO2 emissions combined: 266 –
Slide 19: Elevating Individualisation Experience
Elevating Individualisation Experience DESIRABILITY INDIVIDUALISATION SPECIAL EDITIONS 911 Spirit 70 (WLTP): Fuel consumption combined: 10.9 – 10.7 l/100 km; CO₂ emissions combined: 246 – 242 g/km; CO₂ class: G; Status 09/2025 19
Slide 20: Current wait times for the SONDERWUNSCH products
The current wait times for the SONDERWUNSCH products reflect the high demand and indicate the sales potential PRODUCT OFFER WAITING TIME & RESTRICTIONS O N E- O F FS ~ 8 YEARS BESPOKE ~ 1 YEAR R E S TO R AT I O N ~ 2 YEARS R E- C O M M IS S IO N ~ 2 YEARS PA I N T TO S A M P L E L I M I T E D AVA I
Slide 21: Individualisation & Classic
Individualisation & Classic STR ATEGY E VOLUTION 3.0 2.0 FULL POTENTIAL 1.0 [UP]SCALING REALIGNMENT Let’s… Let‘s shift upwards! Let‘s start the engine! 2019 2023 2025 21
Slide 22: Exploiting the strong potential of Individualisation
Exploiting the strong potential of Individualisation with a clear focus on exclusivity Paint to Sample Vehicles Vehicles Vehicles Vehicles 2024 2030 2024 2030 HOME OF I N D I V I D U A L I S AT I O N & CLASSIC even more “Halo-Vehicles“ Turnover per vehicle Turnover per vehicle CORE H E R I TAG E OFF
Slide 23: Higher flexibility ICE/PHEV
HIGHER FLEXIBILIT Y ICE/PHEV 911 GT3 RS (WLTP): Fuel consumption combined: 13.2 l/100 km; CO₂ emissions combined: 299 g/km; CO₂ class: G; Status 10/2025 23
Slide 24: ICE and PHEV offerings with strong updates for the 2030s
ICE and PHEV offerings with strong updates for the 2030s NEW NEW CAYENNE PANAMERA NEW 911 Cayenne GTS (WLTP): Fuel consumption combined: 12.7 – 12.2 l/100 km; CO₂ emissions combined: 289 – 277 g/km; CO₂ class: G; Status 09/2025 911 Carrera GTS (WLTP): Fuel consumption combined: 11.0 – 10.4 l/100 km;
Slide 25: Adding new ICE and PHEV offerings towards the end of the decade
Adding new ICE and PHEV offerings towards the end of the decade ADDITION ADDITION ADDITION NEW B-SUV TOP ICE DERIVATIVES NEW D-SUV ICE/PHEV FOR NEW 718 ICE/PHEV 25
Slide 26: Winning the luxury BEV race
WINNING THE LUXURY BEV RACE Taycan Turbo (WLTP): Electrical consumption combined: 20.0 – 17.7 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A; Status 09/2025 Macan Turbo (WLTP): Electrical consumption combined: 20.7 – 18.9 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A; Status 09/
Slide 27: Current BEV lineup supported by new product highlights
Current BEV lineup will be supported by new product highlights TAYCAN MACAN BEV CAYENNE BEV 718 BEV 2019 2024 NEW NEW 2020 2030 Taycan 4S (WLTP): Electrical consumption combined: 20.1 – 17.6 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A; Status 09/2025; Macan (WLTP): Electrical consumptio
Slide 28: Next Level E-Performance
Next Level E-Performance > 735 kW > 1000 PS 0 – 100 km/h << 3 s WLTP Range > 600 km Charging Highlights 400 kW DC Charging Wireless Charging Typical Cayenne Offroad Capabilities 3.5 t Towing Capacity Pre-series model. All information is based on preliminary internal measurements and may change until
Slide 29: Tech Highlight: Porsche Wireless Charging
Tech Highlight: Porsche Wireless Charging TECHNOLOGY FOR NOVELT Y AT NE W CHARGING INTELLIGENT FUTURE PORSCHE MARKE T CONVENIENCE PROTECTION BE V MODELS Pre-series model. All information is based on preliminary internal measurements and may change until type approval. Official WLTP values will be av
Slide 30: Porsche Tech Update
Porsche Tech Update E XPAND IN-CAR E XCITE WITH LE VER AGE AI TECH CAPABILITIES CUSTOMER E XPERIENCE IN CUSTOMER FUNCTIONS 67746978 Expand OTA-capabilities in Launch of market tailored Massively deploy AI in customer upcoming launches to Infotainment in China in 2026 to applications to elevate maxim
Slide 31: Adapted product portfolio offering flexibility in the transition
Result: Adapted product portfolio offering flexibility in the transition SPORTS CARS1 SPORTS LIMOUSINES SPORT UTILITY VEHICLES ICON ELEGANCE PRESTIGE NEW PERFORMANCE FUNCTIONALITY DRIVING FUN NEW LIFESTYLE NEW NEW 1 Two-door sports cars; Potential Midterm Drivetrain Portfolio: ICE (x)HEV BEV 31
Slide 32: Push-to-Pass program as lever for securing long-term profitability
Push-to-Pass program as lever for securing long-term profitability Strategic performance program with Creates resilience and Emphasis now on sustainable six areas of action that target profit strengthens innovative optimisation of the cost structure, e.g. contributions, development and power & indep
Slide 33: Regulatory framework of rescaling on employee side
Regulatory framework of rescaling on employee side 2025 MEASURES F U T U R E PAC K AG E COSTS Immediate measures for personnel costs QUANTIT Y Agreement for the implementation of I N N E G O T I AT I O N socially responsible staff reductions STRUCTURE Securing the production program 2025 33
Slide 34: Socially responsible measures to optimise corporate structure
2025: Socially responsible measures to optimise corporate structure and strengthening future resilience DEVELOPMENT OF POSITIONS MEASURES 01 Utilizing demographics 02 Restrictive hiring 03 „Sonder-ATZ“ program 1 2024 2025 2026 2027 2028 2029 2030 1 Sonder-ATZ = Special phased retirement program 34
Slide 35: Our China strategy builds on three focus areas
Our China strategy builds on three focus areas derived from our global strategy PRODUCT & SERVICES CUSTOMER & BR AND ORGANISATION & EFFICIENCY 35
Slide 36: First milestones of recalibrating our Chinese footprint reached
First milestones of recalibrating our Chinese footprint have already been reached NE T WORK RECALIBR ATION INTERNAL REORGANIZATION # Point of Sales # Investors # Internal Core Employees (FTE)1 # External Employees 150 ~ 450 135 ~ 400 ~ 80 ~ 200 ~ 100 31 28 ~ 25 01/2024 06/2025 12/2026 01/2024 06/202
Slide 37: Porsche AG – Performance
Porsche AG – Performance KE Y DE VELOPMENTS IN Q3 2025 MES SAGE Pushing ahead with extensive strategic rescaling and recalibration measures: Porsche is taking the final steps in the realignment of its product strategy and recalibration measures to secure long- term success. Recent product decisions
Slide 38: Group and Automotive
Group and Automotive FINANCIAL PERFORMANCE OVERVIE W Y TD Q3 2025 GROUP SALES RE VENUE GROUP RE TURN ON SALES GROUP OPER ATING PROFIT 1 (-6.0 % compared to previous year) (-13.9 pp compared to previous year) (-99.0 % compared to previous year) AUTOMOTIVE EBITDA MARGIN AUTOMOTIVE NE T CASH FLOW MARGI
Slide 39: Group and Automotive
Group and Automotive FINANCIAL PERFORMANCE OVERVIE W Y TD Q3 2025 AUTOMOTIVE OPER ATING PROFIT AUTOMOTIVE NE T LIQUIDIT Y (Automotive RoS -1.0 %) (-16.0 % compared to 31.12.2024) AUTOMOTIVE RESE ARCH AUTOMOTIVE AND DE VELOPEMENT COSTS CAPITAL E XPENDITURE (7.7 % of Automotive Sales Revenue) (5.2 % o
Slide 40: Group – Sales Revenue and Operating Profit
Group – Sales Revenue and Operating Profit Y TD Q3 RESULTS 2024 VS. 2025 Business performance shaped by macroeconomic and geopolitical headwinds such as tariffs and also GROUP SALES GROUP OPER ATING the slower pick-up BEV exclusive RE VENUE , IN € BN PROFIT, IN € BN segment In response, the company
Slide 41: Group – Operating Profit Development
Group – Operating Profit Development Y TD Q3 RESULTS 2024 VS. 2025 CONTRIBUTOR S TO OPER ATING Group Sales Revenues impacted by PROFIT DE VELOPMENT, IN € BN lower unit sales Positive pricing along with growth in -99.0 % financial services business and after 4.04 -3.08 ∑ app. sales -3.20 Extraordinar
Slide 42: Automotive – Sales Revenue and Deliveries
Automotive – Sales Revenue and Deliveries Y TD Q3 RESULTS 2024 VS. 2025 Lower unit sales were partly offset by strong pricing and after sales AUTOMOTIVE SALES DELIVERIES, business REVENUE, IN € BN IN K UNITS North America recorded strong first nine months with a 5 % increase -8.0 % -6.0 % compared t
Slide 43: Automotive – Deliveries
Automotive – Deliveries Around 35 % of all vehicles delivered in the first three quarters Y TD Q3 RESULTS 2024 VS. 2025 of 2025 were electrified and around 23 % were fully electric MODEL DISTRIBUTION, IN K UNITS Porsche increased market share worldwide in its respective segments for five of six mode
Slide 44: Automotive – Deliveries
Automotive – Deliveries Y TD Q3 RESULTS 2024 VS. 2025 REGIONAL DISTRIBUTION Sales structure across the global regions remains well-balanced Y TD Q3-24 Y TD Q3-25 North America remains the strongest sales region with a 5 % increase compared to 2024 Overseas and Overseas and Emerging Markets Germany E
Slide 45: Automotive – Deep Dive on Vehicle Sales
Automotive – Deep Dive on Vehicle Sales Y TD Q3 RESULTS 2024 VS. 2025 Small decline in North America REGIONAL DISTRIBUTION, % OF VEHICLE SALES reflects temporarily lower imports after summer break following high inventory levels at the end of Q2 -10.5 % China continues to reflect the Vehicle sales 2
Slide 46: Automotive – Operating Profit
Automotive – Operating Profit Y TD Q3 RESULTS 2024 VS. 2025 Automotive Sales Revenues -106.0 % impacted by lower sales based on 3.8 lower product availability in Europe and value-over-volume strategy in China Positive impact from pricing and after sales business Extraordinary expenses totaling appro
Slide 47: Financial Services – Operating Profit
Financial Services – Operating Profit Y TD Q3 RESULTS 2024 VS. 2025 +4.8 % High penetration in most markets driven by increased BEV share as well as efforts to improve product offer and conditions 0.2 0.2 Unchanged risk profile and monitoring of dynamic worldwide market environment (e.g. US tariffs)
Slide 48: Automotive – Net Cash Flow and Liquidity
Automotive – Net Cash Flow and Liquidity Y TD Q3 RESULTS 2024 VS. 2025 N E T CAS H F LO W, N E T L I Q U I D I T Y, Lower cash flow from operating IN € BN IN € BN business due to strategic realignment measures, battery -16.0 % related activities and US tariff ∑ app. 8.6 Disciplined investment and +8
Slide 49: Adjusted Porsche Financial Outlook 2025
Adjusted Porsche Financial Outlook 2025 GROUP RE TURN ON SALES ( ROS) CONTRIBUTOR S TO GROUP RE TURN ON SALES 2025 OUTLOOK DE VELOPMENT (ILLUSTR ATIVE ) 12 % 10 % 8.5 % RoS 7.0 % 6.5 % RoS 5.0 % 2.0 % RoS Slightly positive Outlook Value oriented Strategic US tariffs Adjusted US tariffs June - US tar
Slide 50: Adjusted Porsche Financial Outlook
Adjusted Porsche Financial Outlook MOST IMPORTANT PERFORMANCE INDICATORS ADJUSTED 2024 OUTLOOK 2025 Sales Revenue € 40.1 bn € 37 - 38 bn GROUP Return on Sales (RoS) 14.1 % Slightly positive - 2 % EBITDA Margin 22.7 % 10.5 - 12.5 % AUTOMOTIVE Net Cash Flow Margin 10.2 % 3-5% BEV Share 12.7 % 20 - 22
Slide 51: Capital Allocation Policy
Capital Allocation Policy DIVIDEND: 2025: Expected proposal above mid-term target1 MID -TERM TARGE T: 50 % pay-out ratio2 CAPE X & R&D : Focused investment program TECHNOLOGY & VENTURE : Select investments with preference for partnerships PENSION: Commitment to partially fund the pension deficit in
Slide 52: Key Takeaways
Key Takeaways Despite a demanding macroeconomic environment, Porsche AG delivered a solid Net Cash Flow, reflecting the company’s robust financial strength. Demand remains resilient, with pricing continuing to provide strong support. The proactive strategic realignment throughout 2025 lays the found
Slide 53: Relaunched IR-Website
Relaunched IR-Website Discover the new Porsche AG Investor Relations Website. With new design and easier access to the information you are looking for. Investor Relations | Porsche AG 53
Slide 54: Ferry Porsche quote
“Those who are fortunate enough to build a business from a dream owe it to the world to be the guardians of those dreams“ FERRY PORSCHE 54
Slide 55: Group – Condensed Consolidated Income Statement
Group – Condensed Consolidated Income Statement IN € MN Y TD Q3 % Y TD Q3 % DELTA % 2025 2024 SALES REVENUE 26,864 100.0 28,564 100.0 -1,700 -6.0 (-) Cost of sales -23,590 -87.8 -21,279 -74.5 -2,311 10.9 (=) Gross profit 3,273 12.2 7,285 25.5 -4,011 -55.1 (-) Distribution expenses -2,046 -7.6 -2,148
Slide 56: Automotive – Research & Development
Automotive – Research & Development IN € MN Y TD Q3 2025 Y TD Q3 2024 Automotive research and development costs 1,840 2,312 % of Automotive Sales Revenue 7.7 % 8.9% Expensed Automotive research and development costs (A) 1,077 758 % Automotive research and development costs 48.5 % 32.8 % Automotive c
Slide 57: Group – Condensed Consolidated Statement of Financial Position
Group – Condensed Consolidated Statement of Financial Position IN € MN 30.09.2025 31.12.2024 DELTA % Intangible assets 8,188 8,941 -753 -8.4 Property, plant and equipment 9,957 10,048 -91 -0.9 Leased assets 5,503 5,393 110 2.0 Financial services receivables 4,933 5,078 -146 -2.9 Equity-accounted inv
Slide 58: Group – Condensed Consolidated Statement of Financial Position
Group – Condensed Consolidated Statement of Financial Position IN € MN 30.09.2025 31.12.2024 DELTA % Equity before non-controlling interests 22,633 23,043 -410 -1.8 Non-controlling interests 114 13 101 >100 Equity 22,747 23,056 -309 -1.3 Provisions for pensions and similar obligations 3,658 4,074 -4
Dr. Ing. h.c. F. Porsche — Q3 2025 Earnings Presentation on 6ix