Porsche generated an operating profit of €1.74bn ($1.93bn) over the first nine months of 2026, up from €40m a year before, while deliveries declined.
The German carmaker cited pricing, product mix and lower strategic realignment costs as balancing a 16% fall in deliveries to 178,532 vehicles.
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Group sales revenue declined 5.9% year-on-year to €25.28bn.
Profit before tax rose to €2.32bn from €110m, while profit after tax climbed to €1.81bn from €114m.
Operating return on sales improved to 6.9% from 0.2%, and automotive EBITDA margin increased to 17.3% from 11.9%.
Porsche said the comparison was affected by approximately €2.7bn in strategic realignment costs recorded in the first nine months of 2025, against approximately €500m in the same period of 2026.
Automotive net cashflow rose to €2.50bn from €1.34bn, supported by the completed sale of Porsche’s stakes in Bugatti Rimac and the Rimac Group.
It generated a group cash inflow of €984m and a gain of €593m.
North America was the largest regional market, with 56,088 deliveries, while weaker conditions in China continued to weigh on sales.
Battery-electric vehicles (BEVs) accounted for 21.7% of deliveries, down from 23.1% a year earlier, which Porsche mainly attributed to the electric Macan’s unusually strong contribution during its 2025 market ramp-up.
Porsche reaffirmed its full-year outlook of group sales revenue between €35bn and €36bn, an operating return on sales of 5.5% to 7.5%, an automotive EBITDA margin of 15% to 17% and a BEV share of 24% to 26%.
Porsche CEO Michael Leiters said: “As announced at the Capital Markets Day, as part of our Sportwagenschmiede ’35 strategy, we will systematically develop our portfolio with new, emotionally engaging products while at the same time making Porsche leaner and more agile. Our goal is clear: higher profitability and stronger net cashflow with lower capital intensity. We are thereby laying the foundations for a sustainable improvement in our financial performance.”
In August, Porsche agreed to sell its management and IT consulting unit, MHP, to Tata Consultancy Services (TCS) at an enterprise value of €320m, to concentrate on its core business.
Earlier this month, it unveiled plans to raise average selling prices for its highest-end models by about 20% in the medium term, alongside operational restructuring and workforce reductions of up to 9,000 jobs.
