From Business

Porsche and Volkswagen see encouraging operating business

Structural changes impact Porsche SE group’s results

Stuttgart. Porsche Automobil Holding SE, Stuttgart, is able to report that its holdings’ operations continued to develop favorably throughout the first nine months of fiscal 2009/10, which ends on 31 July 2010. In this period, Porsche Zwischenholding GmbH group, in which Porsche SE holds a 50.1 percent share and which is primarily made up of Porsche AG and its subsidiaries, achieved an operating result of 0.6 billion euro. The group continues to report a two-digit return on sales. Revenue increased by 11.8 percent in relation to the comparative period of the prior year to 5.2 billion euro. Read more

Porsche Consulting opens new subsidiary in Brazil

Stuttgart/São Paulo. With the founding of a second international subsidiary, Porsche Consulting GmbH, which is based in Bietigheim-

Bissingen, Germany, and is in its 16th year of operation, has consistently remained true to its international growth course. After opening a branch office in Italy, Porsche Consulting is now following up with its first base for overseas corporate consulting with Porsche Consulting Brasil. “Thanks to this new location, we are now closer to our South American clients and can better develop very interesting markets on site. As an experienced specialist for process optimization, we are seeing an enormous demand for consulting services in this rapidly growing and developing economy,” said Eberhard Weiblen, Chairman of the Management Board, during today’s grand opening of the office in Sao Paulo. Read more

Favorable operational trend of the holdings Porsche and Volkswagen

Structural changes affect profit of Porsche SE

Stuttgart. Porsche Automobil Holding SE, Stuttgart, can report a favorable operational trend of its holdings in the first half of the 2009/10 fiscal year ending 31 July 2010. The Porsche Zwischenholding GmbH group including mainly the Porsche AG recorded in the reporting period a double-digit return on sales with an operating profit of 329 million euro. Revenue increased by 3.7 percent in relation to the comparative period of the prior year to 3.16 billion euro. Unit sales fell 1.7 percent to 33,670 vehicles. The Volkswagen group has been included in the half-yearly financial report of the Porsche SE with the result for the period from 1 July 2009 to 31 December 2009. On this basis, the Volkswagen group sold 3,302,144 vehicles in the first half of the 2009/10 fiscal year. With revenue of 54.0 billion euro, the operating profit comes to 615 million euro.
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Changes to the supervisory board of Porsche SE

His Excellency Sheikh Jassim Bin Abdulaziz Bin Jassim Al-Thani elected

Stuttgart. On Friday, the annual general meeting of Porsche Automobil Holding SE, Stuttgart elected His Excellency Sheikh Jassim Bin Abdulaziz Bin Jassim Al-Thani (31) as a representative of Qatar Holding LLC, Doha, onto the supervisory board of the company. He replaces the former member of the supervisory board, Mr. Hans-Peter Porsche (69), who retired from office effective the end of the annual general meeting. Sheikh Jassim Bin Abdulaziz Bin Jassim Al-Thani has been appointed for the remaining four-year period of Hans-Peter Porsche’s appointment. Qatar Holding LLC through its fully owned subsidiary Qatar Holding Germany GmbH, Frankfurt, holds ten percent of the ordinary shares of Porsche SE.
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Porsche to increase sales with the Panamera

Automobile manufacturer presents interim report

Stuttgart. Porsche Automobil Holding SE, Stuttgart, today published its interim report, which reports particularly on the first three months of the 2009/10 fiscal year (1 August 2009 to 31 October 2009). The report, which covers the business of both Porsche and Volkswagen in the reporting period, is not comparable with the corresponding report of the prior year. The reason is the increase in Porsche SE’s share of voting rights in Volkswagen AG, effected on 5 January 2009, to over 50 percent and the ensuing full consolidation of Volkswagen. As a result, consolidated revenue for the three-month reporting period amounts to 26.8 billion euro, of which 1.1 billion euro is attributable to Porsche. This is a 30.5 percent fall in the revenue recorded by the Stuttgart-based automobile manufacturer compared to the prior-year period.
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