It’s not every day that one of the most recognizable sports car brands in the world gets bumped from Germany’s benchmark stock index. But that’s the case this week as Porsche AG has been shown the door from the DAX, the index of 40 major German companies, and replaced by the comparatively low-profile Scout24 SE—the operator of ImmoScout24, Germany’s largest online real-estate platform.
On paper, it’s a surprising swap: Porsche is a global luxury icon, while Scout24 SE is a dot-com operator better known among apartment hunters than car enthusiasts. But the move follows the index’s regular quarterly review, and the numbers behind it tell the real story.
Porsche stock has been under pressure for months. Shares closed at €44.35 ($51.67) this week, down more than 33 percent compared with a year ago, and nearly 25 percent lower since January. Those declines pushed the company into the MDAX—essentially the DAX’s second tier—where Porsche now takes Scout24’s former slot.
CEO Oliver Blume isn’t hiding his disappointment. Speaking to German newspaper FAZ, he called the removal a temporary setback and stressed he wants Porsche back in the DAX “as soon as possible.” Still, he couldn’t resist suggesting the index is “one company poorer when it comes to one of Germany’s most valuable companies.”
The tough talk masks an even tougher reality. Porsche recently admitted that “macroeconomic and geopolitical headwinds” dragged down its first-half results. Revenues dropped from €19.46 billion ($22.7 billion) to €18.16 billion ($21.2 billion), while operating profit cratered from €3.06 billion ($3.6 billion) to just €1.01 billion ($1.2 billion). Around €1.1 billion ($1.3 billion) in special charges tied to strategic realignments, battery projects, and U.S. tariffs didn’t help the bottom line either.
Blume pointed to sluggish demand in China and escalating trade tariffs in the U.S. as particularly damaging, while acknowledging that Porsche’s pivot to electrification has been slower than hoped. For a brand that once defined aspiration and performance, being squeezed by global economics, shifting consumer demand, and the EV transition is a humbling reality check.
For now, Scout24 gets the prestige of joining the DAX, and Porsche is left watching from the MDAX sidelines. But if the sports-car maker can right the ship, claw back profits, and rekindle momentum in its EV strategy, don’t bet against a comeback. After all, this is Porsche—comebacks are kind of its thing.
Source: Euronews