- Porsche AG's shares fell 7% on Friday, the biggest drop among European firms and its worst day since listing on the stock market, after the carmaker warned that the cost of new models and battery-related expenses would dent its 2025 profits.
Porsche shocked investors with a statement late on Thursday that it expected a profit margin of just 10-12% this year, below analysts' expectations of 14.8% and well under the mid-term target of 17-19%.
The company will take an 800-million-euro ($832 million) hit to profits to launch new combustion engine and plug-in hybrid models, it said, the latest carmaker to pivot back towards combustion engine vehicles amid low demand for EVs in Europe and intense competition in China from local rivals.
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