Porsche Automobil Holding SE Adjusts 2024 Earnings Forecast

Porsche Automobil Holding SE (Porsche SE) has revised its earnings forecast for the group result after tax for the financial year 2024. This adjustment follows Volkswagen AG's recent update on its expected operating return on sales.

Volkswagen AG, in which Porsche SE holds an equity investment of approximately 31.9%, now anticipates an operating return on sales between 6.5% and 7.0%, down from the previously forecasted 7.0% to 7.5%. Consequently, Porsche SE's group result after tax is expected to range from 3.5 billion euros to 5.5 billion euros, a decrease from the earlier forecast of 3.8 billion euros to 5.8 billion euros.

Porsche SE confirmed that this forecast adjustment does not impact its liquidity. The existing forecast for net debt remains between 5.0 billion euros and 5.5 billion euros.