°µÍø½ûÇø

°µÍø½ûÇø: Update of non-cash effective, expected impairments of the carrying amounts of the investments in °µÍø½ûÇø AG and Volkswagen AG

°µÍø½ûÇø / Key word(s): Forecast
°µÍø½ûÇø: Update of non-cash effective, expected impairments of the carrying amounts of the investments in °µÍø½ûÇø AG and Volkswagen AG

06-Feb-2025 / 21:13 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.
The issuer is solely responsible for the content of this announcement.


Dr. Ing. h.c. F. °µÍø½ûÇø AG (°µÍø½ûÇø AG), Stuttgart, announced today preliminary figures for the financial year 2024 and key figures for the financial year 2025.

Against this background, the Management Board of °µÍø½ûÇø (°µÍø½ûÇø SE) has updated its assumptions previously used in the preliminary valuation models (see ad-hoc announcement from °µÍø½ûÇø SE dated December 13, 2024) regarding the future economic development of °µÍø½ûÇø AG.

Based on preliminary assessments, °µÍø½ûÇø SE now assumes the expected impairment of the carrying amount of the investment in °µÍø½ûÇø AG in the expected range from minus 2.5 billion euros to minus 3.5 billion euros (previously: minus 1 billion euros to minus 2 billion euros) in the consolidated balance sheet of °µÍø½ûÇø SE. As a result of the changes at °µÍø½ûÇø AG, it is also anticipated that the expected impairment of the carrying amount of °µÍø½ûÇø SE's investment in Volkswagen AG in the consolidated balance sheet of °µÍø½ûÇø SE, while maintaining the previous range of minus 7 billion euros to minus 20 billion euros, will rather tend towards the lower end of the range of minus 20 billion euros.

A finalization of the impairment tests of °µÍø½ûÇø SE can take place at the earliest upon the preparation of the annual and consolidated financial statements of Volkswagen AG and °µÍø½ûÇø AG.

The expected impairment loss in the consolidated financial statements of °µÍø½ûÇø SE in relation  to °µÍø½ûÇø AG will also have an impact on the annual financial statements of °µÍø½ûÇø SE under German commercial law, however to a lower extent.

The expected impairment losses at the level of °µÍø½ûÇø SE or the °µÍø½ûÇø SE Group will not have a cash effect. 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 2024 financial year.


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


End of Inside Information

06-Feb-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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