Porsche Holding SE: Impairment Hits VW & Porsche Investments; Forecast Pulled

• Porsche Automobil Holding SE expects a non-cash impairment of its investments in Volkswagen AG and Porsche AG, leading to an accounting loss in its consolidated financial statements.
• The company has withdrawn its earnings forecast for the 2024 financial year due to expected impairment losses.
• Impairment tests will rely on external analyst expectations, as current corporate planning data from Volkswagen AG and Porsche AG is unavailable.
• The expected impairment range for Volkswagen AG is between minus 7 billion euros and minus 20 billion euros, and for Porsche AG, between minus 1 billion euros and minus 2 billion euros.
• Despite the expected impairment losses, Porsche SE plans to distribute a dividend for the 2024 financial year.
• The forecast for the net debt of the Porsche SE Group as of 31 December 2024 remains between 5.0 billion euros and 5.5 billion euros.

The price of Porsche Holding SE at the time of the news was 35,17EUR and was down -1,88 % compared with the previous day.
14 minutes after the article was published, the price was 35,80EUR this corresponds to a plus of +1,81 % since publication.
At this time, the index DAX was at 20.391,50PKT (-0,07 %).

Porsche Holding SE

+0,46 %

+1,53 %

+4,63 %

-6,53 %

-18,40 %

-56,11 %

-44,57 %

-50,23 %

-22,24 %

ISIN:DE000PAH0038WKN:PAH003

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