The bottom line is that the after-tax result fell by almost eight percent to 2.13 billion euros, as the German company announced on Tuesday. Effects from accounting purchase price allocations for the investment in sports car manufacturer Porsche AG had a positive effect. The investment result in the Volkswagen Group, on the other hand, fell.
Porsche SE was able to reduce its net debt to five billion euros by the middle of the year. At the end of March it was still at 5.8 billion euros. The company benefited in particular from the dividends received from VW and Porsche AG. Management confirmed the forecasts for after-tax profit and net debt for the year as a whole.
Porsche SE (PSE) is the holding company of the VW owner families Porsche and Piech. It has a direct 12.5 percent stake in the sports car manufacturer Porsche AG. In addition, it has a majority voting interest in the Volkswagen Group, which in turn holds the majority in Porsche AG. The PSE’s earnings after taxes are significantly influenced by the two core investments. At the beginning of July, PSE also lowered its earnings forecast for the year along with the Volkswagen Group.
