BERLIN, Oct 27 (Reuters) – Volkswagen’s embattled sports car maker Porsche on Tuesday reported a recovery in profit in the first nine months of the year, an early test of CEO Michael Leiters’ turnaround plan to downsize and retreat from China.
Operating profit came in at €1.74 billion ($1.94 billion), considerably above the €40 million result in the same period last year, when €2.7 billion in restructuring costs hit earnings, the company said.
“Even in a challenging market environment, Porsche is showing itself to be financially robust,” Porsche finance chief Jochen Breckner said, confirming the carmaker’s guidance for 2026.
($1 = 0.8946 euros)
(Reporting by Rachel More, Editing by Friederike Heine)
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