Sees FY net profit 3.5-5.5 bln eur (Il Sole 24 Ore Radiocor) - Berlin, 13 Aug - The German sports car manufacturer Porsche Automobil Holding SE generated an after tax profit of 2.1 billion euros in the first half of 2024 compared with 2.3 billion a year earlier and is "significantly influenced" by the result from the investments in Volkswagen AG and Dr. Ing. h.c. F. Porsche AG (Porsche AG) which accounted for at equity of 2.0 billion euro and 0.3 billion euro, respectively.

Net debt of the Porsche SE group decreased to 5.0 billion euros from 5.7 billion euros at the end of 2023. The improvement is largely due to the dividends received from Volkswagen AG (1.4 billion euros) and Porsche AG (0.3 billion euros). This was partly offset by the dividend of 783 million euros distributed by Porsche SE to its shareholders.

For the full year, Porsche SE expects to record a group result after tax of between 3.5-5.5 billion euros. It sees net debt of 5.0-5.5 billion euros at the end of 2024.

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(RADIOCOR) 13-08-24 10:34:38 (0244) 5 NNNN