Nov 10 (Reuters) - Porsche SE, Volkswagen's largest shareholder, reported a 44% drop in adjusted net profit for the first nine months of 2026 on Tuesday, as weaker earnings from its core automotive holdings reflected persistent pressure across the European auto sector.

Porsche SE owns 31.9% of Volkswagen shares and 53.3% of its voting rights, as well as 12.5% of Porsche AG. Its earnings are closely tied to both, which have been affected by weak Chinese demand, growing competition from Chinese automakers and restructuring across the Volkswagen group.

• Adjusted group result after tax came in at €0.9 billion in the first nine months of 2026, down from €1.6 billion a year earlier

• Group result after tax swung to a loss of €2.8 billion from a profit of €1.2 billion a year earlier, mainly due to a non-cash impairment loss on the carrying amount of its Volkswagen investment

• Chairman Hans Dieter Poetsch said Volkswagen's results showed that measures to improve competitiveness, cut costs and raise profitability must be implemented swiftly, adding that it was now management's responsibility to deliver

• The company confirmed its full-year forecast for adjusted group result after tax of minus €0.5 billion to plus €1.5 billion, a range it had already cut in September

(Reporting by Amir Orusov and Rachel More, editing by Anna Pruchnicka)

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