Porsche's earnings per share slashed by a third in 2024, keeps dividend stable
Porsche said on Wednesday it will keep its dividend for 2024 at the previous year's level despite a 30.4% drop in earnings per share, according to Reuters calculations, as the luxury carmaker battles high costs and weak demand in China. Porsche's shares suffered their worst day on the stock market last month when it warned that its 2025 margin would hit just 10-12% this year because of an 800-million euro ($872.24 million) dent to profits as it pivoted back to more combustion engine and hybrid models. The carmaker, which at its stock market debut in 2022 was valued higher than its parent company Volkswagen AG, has fallen from grace since, struggling in particular with low sales in China, its top market, where sales dropped 28% in 2024.
