Fixed remuneration
Annual base salary
1,085,000
74.5
Fringe benefits2
–
–
Total fixed remuneration
1,085,000
74.5
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
–
–
Tranche 3 of the IPO bonus
371,359
25.5
Total variable remuneration
371,359
25.5
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
1,456,359
100.0
Pension expenses
444,692
–
Total remuneration including pension expenses
1,901,051
–
1 Dr. Blume also receives remuneration from Volkswagen AG. This remuneration is not counted toward the remuneration from Porsche AG. The remuneration received by Dr. Blume from Volkswagen AG in fiscal year 2025 is presented in the remuneration report 2025 of Volkswagen AG.
2 Dr. Blume receives a fringe benefit allowance from Volkswagen AG.
Fixed remuneration
Annual base salary1
1,035,000
59.7
Fringe benefits
36,979
2.1
Total fixed remuneration
1,071,979
61.8
Variable remuneration
Short-term variable remuneration (STI) 20251
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
449,923
25.9
Tranche 3 of the IPO bonus
212,205
12.2
Total variable remuneration
662,128
38.2
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
1,734,107
100.0
Pension expenses
388,305
–
Total remuneration including pension expenses
2,122,412
–
1 Calculated pro rata on the basis of his remuneration until June 30, 2025 (remuneration for ordinary Executive Board members) and the increased remuneration due to his appointment as Deputy Chairman of the Executive Board from July 1, 2025.
Fixed remuneration
Annual base salary
172,329
87.2
Fringe benefits
25,271
12.8
Total fixed remuneration
197,600
100.0
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
197,600
100.0
Pension expenses
68,988
–
Total remuneration including pension expenses
266,588
–
1 Mr. Meschke also receives remuneration from Porsche SE. This remuneration is not counted toward the remuneration from Porsche AG. The remuneration received by Mr. Meschke in fiscal year 2025 from Porsche SE is presented in the remuneration report 2025 of Porsche SE.
2 Mr. Meschke was a member of the Executive Board until February 25, 2025. The table shows the remuneration granted and owed for the period to February 25, 2025. The date of receipt of the LTI and the third tranche of the IPO bonus in the fiscal year determines the table in which they are presented.
Fixed remuneration1
Annual base salary
795,938
97.4
Fringe benefits
21,526
2.6
Total fixed remuneration
817,464
100.0
Variable remuneration
Short-term variable remuneration (STI) 20251
0
0.0
Multiyear variable remuneration/long-term incentive (LTI)
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
817,464
100.0
Pension expenses
318,375
–
Total remuneration including pension expenses
1,135,839
–
1 Pro rata temporis since February 26, 2025.
Fixed remuneration1
Annual base salary
795,938
97.8
Fringe benefits
18,113
2.2
Total fixed remuneration
814,050
100.0
Variable remuneration
Short-term variable remuneration (STI) 20251
0
0.0
Multiyear variable remuneration/long-term incentive (LTI)
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
814,050
100.0
Pension expenses
318,375
–
Total remuneration including pension expenses
1,132,425
–
1 Pro rata temporis since February 26, 2025.
Fixed remuneration
Annual base salary
596,976
38.0
Fringe benefits
42,674
2.7
Total fixed remuneration
639,650
40.7
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–20242
933,283
59.3
Total variable remuneration
933,283
59.3
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
1,572,933
100.0
Pension expenses
247,361
–
Total remuneration including pension expenses
1,820,295
–
1 Ms. Frenkel was a member of the Executive Board until August 18, 2025. The table shows the remuneration granted for the period to August 18, 2025. The date of receipt of the LTI and the third tranche of the IPO bonus in the fiscal year determines the table in which they are presented.
2 Ms. Frenkel did not have a guaranteed amount, therefore no such amount is deducted.
Fixed remuneration
Annual base salary
596,976
55.0
Fringe benefits
37,653
3.5
Total fixed remuneration
634,629
58.5
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
449,923
41.5
Total variable remuneration
449,923
41.5
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
1,084,552
100.0
Pension expenses
244,858
–
Total remuneration including pension expenses
1,329,410
–
1 Mr. Haffner was a member of the Executive Board until August 18, 2025. The table shows the remuneration granted for the period to August 18, 2025. The date of receipt of the LTI and the third tranche of the IPO bonus in the fiscal year determines the table in which they are presented.
Fixed remuneration
Annual base salary
945,000
95.2
Fringe benefits
47,610
4.8
Total fixed remuneration
992,610
100.0
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI)
–
–
Tranche 3 of the IPO bonus
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
992,610
100.0
Pension expenses
385,003
–
Total remuneration including pension expenses
1,377,613
–
Fixed remuneration
Annual base salary
149,063
91.1
Fringe benefits
14,547
8.9
Total fixed remuneration
163,610
100.0
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
163,610
100.0
Pension expenses
59,526
–
Total remuneration including pension expenses
223,136
–
1 Mr. von Platen was a member of the Executive Board until February 25, 2025. The table shows the remuneration granted for the period to February 25, 2025. The date of receipt of the LTI and the third tranche of the IPO bonus in the fiscal year determines the table in which they are presented.
Fixed remuneration
Annual base salary
945,000
56.9
Fringe benefits
53,752
3.2
Total fixed remuneration
998,752
60.1
Variable remuneration
Short-term variable remuneration (STI) 2025
0
0.0
Multiyear variable remuneration/long-term incentive (LTI) 2022–2024 less guaranteed LTI 2022–2024
449,923
27.1
Tranche 3 of the IPO bonus
212,205
12.8
Total variable remuneration
662,128
39.9
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
1,660,880
100.0
Pension expenses
387,453
–
Total remuneration including pension expenses
2,048,333
–
Fixed remuneration1
Annual base salary
348,024
96.5
Fringe benefits
12,637
3.5
Total fixed remuneration
360,662
100.0
Variable remuneration
Short-term variable remuneration (STI) 20251
0
0.0
Multiyear variable remuneration/long-term incentive (LTI)
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
360,662
100.0
Pension expenses
139,210
–
Total remuneration including pension expenses
499,871
–
1 Pro rata temporis since August 19, 2025.
Fixed remuneration1
Annual base salary
348,024
95.9
Fringe benefits
14,696
4.1
Total fixed remuneration
362,721
100.0
Variable remuneration
Short-term variable remuneration (STI) 20251
0
0.0
Multiyear variable remuneration/long-term incentive (LTI)
–
–
Total variable remuneration
0
0.0
Total remuneration within the meaning of section 162 (1) sentence 1 AktG
362,721
100.0
Pension expenses
139,210
–
Total remuneration including pension expenses
501,930
–
1 Pro rata temporis since August 19, 2025.
Dr. Wolfgang Porsche (Chairman)
260,000
70.5
100,000
27.1
9,000
2.4
369,000
100.0
-
Harald Buck (Deputy Chairman since September 19, 2025)
148,521
57.7
100,000
38.8
9,000
3.5
257,521
100.0
-
Jordana Vogiatzi3 (Deputy Chair until May 31, 2025)
80,671
64.1
41,370
32.9
3,723
3.0
125,764
100.0
0
Dr. Arno Antlitz1
0
0
0
0
-
Dr. Christian Dahlheim (until December 31, 2025)2
0
0.0
100,000
100.0
0
0.0
100,000
100.0
-
Micaela le Divelec Lemmi
130,000
68.8
50,000
26.5
9,000
4.8
189,000
100.0
-
Melissa Di Donato Roos
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Katrin Feiler (since August 1, 2025)
54,493
93.5
0
0.0
3,773
6.5
58,266
100.0
-
Martina Holzbauer
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Tamara Hübner (since June 25, 2025)3
67,671
78.1
14,247
16.5
4,685
5.4
86,603
100.0
0
Akan Isik
130,000
84.8
14,247
9.3
9,000
5.9
153,247
100.0
-
Knut Lofski3
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
0
Dr. Hans Michel Piëch
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Dr. Ferdinand Oliver Porsche
130,000
68.8
50,000
26.5
9,000
4.8
189,000
100.0
-
Hans Dieter Pötsch
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Steffen Reißig3
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
0
Vera Schalwig (until July 31, 2025)
75,507
93.5
0
0.0
5,227
6.5
80,734
100.0
-
Conny Schönhardt
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Carsten Schumacher
130,000
54.4
100,000
41.8
9,000
3.8
239,000
100.0
-
Dr. Hans Peter Schützinger1
0
0
0
0
-
Hauke Stars1
0
0
0
0
-
Heidi Zink-Larson
130,000
93.5
0
0.0
9,000
6.5
139,000
100.0
-
Total
2,246,863
75.9
569,863
19.3
143,408
4.8
2,960,134
100.0
-
1 These Supervisory Board members waived remuneration in full for fiscal year 2025.
2 These Supervisory Board members waived remuneration in part for fiscal year 2025.
3 Remuneration was waived for Supervisory Board activities on the Supervisory Board of Porsche Leipzig GmbH.
Cash additions to intangible assets (with no capitalized development costs or goodwill) and property, plant, and equipment (with no rights of use) in the Automotive segment.
An active chassis system from Porsche that greatly reduces lateral body movement in corners with electro-hydraulically controlled stabilizers in order to improve driving dynamics, comfort, and stability.
A charging plug standard that was developed by Tesla and has become the dominant system for electric vehicles (EVs) in North America. It boasts a compact design that allows for fast AC and DC charging.
A German stock index listing the 50 largest companies below the 40 DAX stocks. It is considered the leading index for medium-sized enterprises (mid-caps) from traditional sectors.
Established in 1969, the IMSA is an association that organizes the most significant sports car championship in North America today. Its current racing series began as the United SportsCar Championship in 2014, and has been known as the IMSA WeatherTech SportsCar Championship since 2016. The calendar consists of eleven races, including the five endurance classics of the Michelin Endurance Cup. The season traditionally begins with the 24 Hours of Daytona and ends with the legendary Petit Le Mans in Road Atlanta.
Hotspot materials are raw materials or components that have an exceptionally high environmental impact in their supply chain or life cycle, such as large contributions to greenhouse gas emissions or resource or water consumption. The term is used in the context of hotspot analyses, yet it is not a legal term in its own right in the EU Taxonomy.
The term “Zero Emission Vehicle” refers to vehicles that do not release any airborne pollutants into their direct environment. For example, this includes battery electric vehicles (BEVs).
The Worldwide Harmonized Light Vehicles Test Procedure is a test procedure designed to calculate a vehicle’s fuel consumption, range, and emissions as realistically as possible.
The Corporate Sustainability Reporting Directive requires companies to carry out a double materiality assessment. In this process, the financial materiality (impacts of sustainability matters, such as climate change, on the financial position of a company) and impact materiality (impacts of the company’s business activities on the environment, society, and human rights) are both assessed. If a topic in one of the two dimensions is material, it must be included in the sustainability reporting.
The UN Global Compact is a global United Nations initiative that aims to build a sustainable, more inclusive economy for all. It wants to initiate change processes within companies and has a code of conduct for companies with ten universal sustainability principles, especially relating to human rights, labor standards, environmental protection, and corruption prevention. Companies that take part in the UN Global Compact undertake to strategically align their business with these ten principles and report on their progress at regular intervals.
GHG emissions are greenhouse gas emissions. This refers to when gases are released into the atmosphere that exacerbate the greenhouse effect and, in turn, contribute to global warming. The most significant greenhouse gases include carbon dioxide (CO₂), methane (CH₄), laughing gas (N₂O), and fluorinated greenhouse gases (F-gases) like hydrofluorocarbons (HFCs).
Stoxx Europe 600 Automobiles & Parts. A European stock market index comprising manufacturers and suppliers in the automotive industry.
A stock index that measures the performance of the 600 largest listed companies from 17 European countries.
Ratio of income tax to profit before tax.
Materials that are obtained from a recycling process. See Recyclates.
The Science Based Targets Initiative was born from an alliance of environmental and climate protection organizations with a view to providing businesses with a framework and sector-specific target paths and, in turn, the opportunity to align the science-based reduction of greenhouse gases with international climate targets (such as the Paris Agreement).
The Scalable Systems Platform (SSP) is a cutting-edge mechatronics platform for all-electric vehicles. It is being developed by the Porsche, Audi, and Volkswagen brands as well as CARIAD for the software architecture. The high-performance version (SSP Sport), in particular, is expected to support Porsche BEVs in the longer term.
Standard & Poor’s Global Luxury Index. An international stock index that tracks the performance of 80 stocks in the luxury segment.
Cash additions to intangible assets (with no capitalized development costs or goodwill) and property, plant, and equipment (with no rights of use) in the Automotive segment.
As part of its process for awarding procurement contracts, Porsche AG has been using a sustainability rating known as the S-rating as an instrument to control its supply chain since 2019. The sustainability rating is carried out continuously and is a direct incentive for direct suppliers to improve their sustainability performance.
right° (also known as “right. based on science”) provides science-based technology that illustrates how the business activities of companies impact the climate. The results are presented in degrees Celsius, which makes it clear whether a company is on the pathway to 1.5°C as set out by the Paris Agreement.
Materials that are obtained either by recycling a product used by end customers (postconsumer recycling) or by recycling production waste (preconsumer recycling). For example, recycled metal includes aluminum shavings that are collected, melted down, and turned into a new raw material. See also secondary raw materials.
Representative concentration pathways are representative scenarios that describe the trajectory (i.e. pathway) of greenhouse gas concentrations in the atmosphere, land use, and land cover up to the year 2100. These scenarios outline a range of possibilities that are meant to help companies make decisions. RCP 8.5 is a worst-case scenario with high greenhouse gas emissions and limited attempts to reduce them. This scenario is an important way of determining what production sites have to be adapted to physical climate risks. The scenarios were developed by the Intergovernmental Panel on Climate Change (IPCC).
The Porsche whistleblower system is a mechanism for reporting possible breaches of the rules via internal and external channels. Reports can be submitted via a 24-hour hotline, an online reporting channel, ombudsmen, by email, by post, or in person, and are processed impartially and confidentially.
Places where customers can experience the Porsche brand firsthand. The PECs provide driver training, the latest technology, and insights into tradition and innovation. Ever since the first center was opened at Silverstone in 2008, they have been global hubs for vehicle safety, technology, and driving fun.
The Porsche Code denotes Porsche’s management mission statement and offers long-term guidance as well as a target vision for the employees and managers. It consists of eight dimensions that set out guidelines on how everyone is expected to interact with one another on a daily basis.
Dr. Ing. h.c. F. Porsche Aktiengesellschaft and its fully consolidated group companies. Porsche AG is the parent company of the Porsche AG Group.
Dr. Ing. h.c. F. Porsche Aktiengesellschaft
Plug-in hybrid vehicles
The percentage of leased or financed new vehicles in the deliveries to customers in markets in the Financial Services segment.
An ISO-standardized method (ISO 14040 and ISO 14044) that encompasses individual vehicle components and determines the vehicle’s approximate environmental impact over its life cycle, from raw material extraction through production, including inbound and outbound logistics, the use phase, including wear parts, to disassembly for recycling (disassembly and recycling: generic vehicle-segment-specific model for disassembly without a battery system and with no recycling credits; cut-off approach). Life cycle assessments examine various impact categories, one of which is global warming potential (GWP). As a large part of the production steps—such as raw material extraction and processing or the production of semifinished and finished products—are carried out by suppliers, selected direct suppliers are obligated to calculate data for the assessment.
The return on sales of the Porsche AG Group is defined as the ratio of operating profit (before the financial result and taxes; EBIT) to sales revenue. The Executive Board of Porsche AG uses the return on sales to assess the operating profitability of the Porsche AG Group.
The total cash and cash equivalents, securities, loans, and time deposits, less financial liabilities to third parties in the Automotive segment.
The definition of the automotive net cash flow margin describes the ratio of the cash flows from operating activities in the Automotive segment, less the cash flows from investing activities attributable to operating activities in the Automotive segment, to the sales revenue of the Automotive segment. The investing activities attributable to operating activities do not contain changes in investments in securities, loans, and time deposits in the Automotive segment.
Specifications describe the raw-material-specific sustainability requirements of the Porsche AG Group with regard to the services and deliveries of direct suppliers. The requirements relate to specific raw materials and apply to the procurement process for certain components.
Morgan Stanley Capital International World Index. A stock market index that tracks the performance of around 1,500 stocks worldwide.
The Supply Chain Due Diligence Act governs corporate responsibility for respecting human rights and environmental due diligence in global supply chains.
The basis of consolidation denotes all the companies included in the consolidated financial statements.
The return on investment represents the return on average invested capital for a particular period on the basis of the operating profit after tax. Invested capital is calculated as the operating assets reported in the balance sheet (property, plant, and equipment, intangible assets, inventories, and receivables) less noninterest-bearing liabilities (trade payables and payments on account received). The average invested capital is derived from the balance at the beginning and the end of the reporting period.
Sustainability matters are evaluated in the materiality assessment on the detailed level of impacts, risks, and opportunities. IROs can be summarized into sustainability topics.
Describes the flotation—that is, an initial public offering made by a previously unlisted company (with an AG or SE structure) to sell shares in the issuing company.
A vehicle with a combustion engine that runs on fuel.
The GHG Protocol is a series of globally standardized instruments for systematically calculating, reporting, and reducing the greenhouse gas emissions of companies or value chains, for example. The calculation factors in emissions throughout the life cycle of the product or in the entire field of activity. The GHG Protocol sorts emissions into three categories: Scope 1 contains direct emissions, Scope 2 contains indirect emissions from purchased electricity, steam, and purchased heat and cooling, and Scope 3 contains the emissions caused by the company’s upstream and downstream activities. The development of the GHG Protocol is coordinated by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD).
The gender pay gap is the difference in the average remuneration paid to women and men. It can be due to a wide range of different factors.
A stock market index comprising 50 major listed companies in the eurozone.
Joint European sustainability reporting standards in line with the CSRD, which specify the content of reporting in more detail. In the reporting year, they consisted of two general standards and ten topic-specific standards.
The ratio of profit before tax to the average tied-up equity.
eFuel is a fuel produced on the basis of energy, water, and CO₂, ideally using electricity from renewable sources. A multi-stage process is used to produce synthetic gasoline, which can then be processed further depending on the desired fuel properties.
EMAS is a voluntary European initiative and a seal of quality in terms of environmental management. It supports companies and organizations that want to systematically improve their environmental performance beyond the minimum legal requirements and reduce their resource consumption. Participating organizations are required to publish an EMAS environmental statement that is certified by an independent, government-monitored auditor.
The definition of the EBITDA margin for the Automotive segment describes the ratio of the Automotive EBITDA to the sales revenue of the Automotive segment.
Automotive operating profit plus depreciation and changes in the carrying amounts of property, plant, and equipment, capitalized development costs, and other intangible assets in the Automotive segment.
A process whereby carbon dioxide (CO₂) is filtered out of the air directly. The CO₂ obtained in this way can be reused in industrial applications, such as to manufacture renewable synthetic fuels (eFuels) and products like plastics or graphite for batteries, or put into long-term storage in the ground. DAC is a highly promising future technology with the potential to make a significant contribution to the accomplishment of global climate targets and to the fight against climate change.
The German Corporate Governance Code presents essential statutory regulations for the management and supervision of German listed companies and contains, in the form of recommendations and suggestions, internationally and nationally acknowledged standards for good and responsible corporate governance.
As a key strategic indicator, the DCI helps selected companies of the Volkswagen Group reduce their carbon footprint by providing a transparent calculation. The DCI aims to map the average emissions per vehicle all along the value chain (manufacture, use, and recycling) in CO₂ equivalents as comprehensively as possible – from the raw material mine to recycling, for instance. Among other things, it is based on standardized life cycle assessments performed by Porsche AG in accordance with ISO 14040/44.
The European Corporate Sustainability Reporting Directive (CSRD) governs the obligation to include sustainability reporting in the management report. Compared to the provisions of Section 289b ff. of the German Commercial Code (HGB), which are currently in force in Germany, it will greatly broaden the applicability and scope of sustainability reporting. Although the CSRD came into force on January 5, 2023, it has not yet been implemented into national law in Germany, so it did not apply in the reporting year. Once the CSRD has been duly implemented, the nonfinancial report (regulated in Section 289b HGB) that is currently required will be replaced by more extensive, farther-reaching sustainability reporting. This new terminology is also an indication that sustainability and financial reporting are to be of equal significance.
Behavioral rules that companies choose to adopt voluntarily. A Code of Conduct provides members of the company and business partners with guidance on how to conduct themselves. Its purpose is to encourage correct, responsible conduct at all times, avoid unwanted actions, and define how business activities align with ethics and the law.
The carbon footprint describes the influence of people or organizations on global climate change on the basis of the CO₂ emissions caused by their activities directly or indirectly. The carbon footprint of a product, for example, relates to its entire life cycle, from manufacture and use to disposal.
Different greenhouse gases all have a different impact on the climate. To make it possible to compare these emissions, their climate impact (global warming potential or GWP) is converted into CO₂ equivalents (CO₂e). For example, methane is 28 times more harmful to the climate than CO₂, so it has a GWP of 28 CO₂e.
The total cash and cash equivalents, securities, loans, and time deposits.
“Deliveries to customers” is a metric that reflects the delivery of new vehicles to end customers. These deliveries can be by Group companies or free importers and dealers. This metric differs from sales within the Porsche AG Group, which are a relevant driver of sales revenue. Sales of new and Group-used Porsche-brand vehicles that have left the Automotive segment for the first time are designated as sales, unless a company in the Automotive segment is under a legal obligation to take them back.
The DAX is the most significant German stock market index. It measures the performance of the 40 largest companies on the German stock market and represents around 80 percent of the market capitalization of listed stock corporations in Germany.
A clay model is a physical model made of industrial plastilin that is used to visualize vehicles to scale. The brown color of the modeling material is reminiscent of clay.
Battery electric vehicle
The capitalization ratio is defined as the ratio of capitalized development costs to total research and development costs in the Automotive division. It shows the proportion of primary research and development costs subject to capitalization.
