EQS-Adhoc: Porsche Automobil Holding SE: Adjustment of the forecast for the group result after tax 2024

Source: EQS

EQS-Ad-hoc: Porsche Automobil Holding SE / Key word(s): Forecast
Porsche Automobil Holding SE: Adjustment of the forecast for the group result after tax 2024

27-Sep-2024 / 18:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Volkswagen AG, Wolfsburg, today announced that it is updating its forecast for the financial year 2024. Volkswagen AG now expects group sales revenue to be around 320 billion euros (2023: 322.3 billion euros; previous forecast: increase of up to 5 percent). In terms of operating profit, Volkswagen AG now expects to achieve a figure of around €18 billion (previously: operating return on sales of 6.5 to 7.0 percent).

Due to its equity investment in Volkswagen AG of around 31.9%, the group result after tax of Porsche Automobil Holding SE (Porsche SE) is significantly influenced by the at equity result attributable to Porsche SE and, thus by the group result after tax at the level of Volkswagen.

As a result, Porsche SE is adjusting its earnings forecast accordingly. For the financial year 2024, the group result after tax of Porsche SE is now to be expected in a range of 2.4 billion euros to 4.4 billion euros. Previously, the forecast for the group result after tax was between 3.5 billion euros and 5.5 billion euros.

The adjustment of the earnings forecast has no impact on the liquidity of Porsche SE. Therefore, Porsche SE Group confirms the existing forecast for net debt in the range of 5.0 billion euros and 5.5 billion euros.


Contact:
Karsten Hoeldtke
Head of Investor Relations
+49-711-911-11023
karsten.hoeldtke@porsche-se.com


End of Inside Information

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Language: English
Company: Porsche Automobil Holding SE
Porscheplatz 1
70435 Stuttgart
Germany
Phone: +49 (0)711 911-11023
Fax: +49 (0)711 911-11819
E-mail: InvestorRelations@porsche-se.com
Internet: www.porsche-se.com
ISIN: DE000PAH0038, XS2615940215 , XS2643320018, XS2643320109, XS2802891833, XS2802892054
WKN: PAH003
Indices: DAX
Listed: Regulated Market in Berlin, Frankfurt (General Standard), Munich, Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1997723

 
End of Announcement EQS News Service

1997723  27-Sep-2024 CET/CEST

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