°µÍø½ûÇø / Key word(s): Annual Results The Management Board of °µÍø½ûÇø (°µÍø½ûÇø SE), Stuttgart, finalized the impairment tests of the at-equity carrying amounts of the investments in Volkswagen AG, Wolfsburg, and Dr. Ing. h.c. F. °µÍø½ûÇø AG (°µÍø½ûÇø AG), Stuttgart. Against this background, °µÍø½ûÇø SE expects the group result after tax for the fiscal year 2024 to reach approximately minus 20.0 billion euros, which is mainly characterized by non-cash effective impairment losses resulting from the impairment tests. The impairment of the carrying amount of °µÍø½ûÇø SE’s investment in Volkswagen AG in the consolidated balance sheet of °µÍø½ûÇø SE is minus 19.9 billion euros and thus, as communicated in the ad-hoc announcement of February 6, 2025, at the lower end of the mentioned range of minus 7 billion euros to minus 20 billion euros. The impairment of the carrying amount of °µÍø½ûÇø SE’s investment in °µÍø½ûÇø AG in the consolidated balance sheet of °µÍø½ûÇø SE is minus 3.4 billion euros and thus within the communicated range of minus 2.5 billion euros to minus 3.5 billion euros. In the annual financial statements of °µÍø½ûÇø SE under German commercial law, there is only an impairment of the carrying amount of °µÍø½ûÇø SE’s investment in °µÍø½ûÇø AG in the amount of minus 2.9 billion euros. For the fiscal year 2024, this results in an expected annual loss of approximately minus 1.5 billion euros. The impairment losses at the level of °µÍø½ûÇø SE or the °µÍø½ûÇø SE Group are non-cash effective. Net debt of °µÍø½ûÇø SE Group as of December 31, 2024 is expected to amount to roughly 5.2 billion euros, thus remaining within the projected range. The Management Board of °µÍø½ûÇø SE continues to assume that a dividend will be distributed for the fiscal year 2024. °µÍø½ûÇø SE’s annual report for the fiscal year 2024 is expected to be published on March 26, 2025. Contact: Karsten Hoeldtke Head of Investor Relations +49-711-911-11023 karsten.hoeldtke@porsche-se.com End of Inside Information 07-March-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | °µÍø½ûÇø |
°µÍø½ûÇøplatz 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: | 2097430 |
End of Announcement | EQS News Service |