Porsche's FY2025 operating profit dropped 98% to €90M (vs €5.3B in 2024) mainly due to:
- €3.1B total one-off costs from strategic realignment: pausing aggressive EV rollout, battery project write-downs, job/organizational changes, and adding more ICE/PHEV models amid slower EV demand.
- US import tariffs (~€700M hit).
- Weak luxury demand & pricing pressure in China (key market).
Q3 alone swung to a €966M loss. Porsche calls 2025 a "trough" year but notes strong net cash flow and expects rebound in 2026. (Official reports + Reuters/Guardian)
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