Porsche Automobil Holding SE Adjusts 2024 Group Result Forecast

Porsche Automobil Holding SE has revised its forecast for the group result after tax for the financial year 2024. The update follows Volkswagen AG's announcement of a new financial outlook for the same period. Porsche SE, which holds a 31.9% equity investment in Volkswagen AG, is directly impacted by Volkswagen's financial performance.

Volkswagen AG now predicts its group sales revenue to be around €320 billion, down from the previous estimate of up to a 5% increase. The anticipated operating profit is approximately €18 billion. Consequently, Porsche SE has adjusted its forecasted group result after tax to a range of €2.4 billion to €4.4 billion, revised from the prior range of €3.5 billion to €5.5 billion.

The adjustment will not affect Porsche SE's liquidity. The company maintains its existing forecast for net debt, expected to be between €5.0 billion and €5.5 billion.