Facing a slowdown in the automotive sector, Porsche has lowered its year-end profit forecast and announced a strategic shift toward the defense industry. Board Chairman Hans Dieter Poetsch highlighted rising defense spending in Europe and emphasized that the company is closely monitoring security and durability trends. While maintaining its focus on mobility and industrial technologies, Poetsch noted that investments in defense and related fields will take priority.
Investment Focus and Plans
Initially, Porsche will establish a platform to invest in innovative defense technology companies, collaborating with other investors. Target areas include satellite surveillance, reconnaissance and sensor systems, cybersecurity, logistics, and supply chain technologies. The company also plans to organize a special networking event to present investment opportunities in the defense sector to German and European family-owned businesses.
Profit Outlook Revised
Due to decreased contributions from Volkswagen and Porsche brands, the company has lowered its full-year adjusted net profit forecast from €2.4–4.4 billion to €1.6–3.6 billion. In the first half of the year, adjusted profits fell from €2.11 billion in the same period last year to €1.11 billion.
