Tagged Porsche Zwischenholding GmbH

Porsche SE benefits from positive development at Porsche and Volkswagen

Profit, however, impacted by the valuation adjustment without effect on cash of the put and call options / significantly higher dividend proposed

Stuttgart, 15 March 2012. In the fiscal year 2011, Porsche Automobil Holding SE, Stuttgart (Porsche SE), benefited from the positive development of both its investments. Profit from the investments accounted for at equity, comprising the profit from Volkswagen AG and Porsche Zwischenholding GmbH attributable to Porsche SE, reached 4.66 billion euro. Of this figure, 395 million euro was attributable to the Porsche Zwischenholding GmbH group and 4.27 billion euro to the Volkswagen group. However, the result was impacted by a special effect from the adjustment through profit or loss, but without effect on cash, of the valuation of the put and call options for the shares in Porsche Zwischenholding GmbH held by Porsche SE. This special effect amounted to minus 4.37 billion euro in 2011. Overall, Porsche SE achieved a profit after tax of 59 million euro at group level. The group profit before taxes was 28 million euro; tax income of 31 million euro had a positive impact. Read more

Profit after tax reaches 149 million euro in the first half of the year

Very good operating development of investments / burden from non-cash special effect

Stuttgart, 2 August 2011. In the first six months of the fiscal year 2011, Porsche Automobil Holding SE, Stuttgart (Porsche SE) reported profit after tax of 149 million euro at group level. In the first half of 2010, the group had reported a loss of 1.62 billion euro.

The profit for the first six months of 2011 was primarily influenced by two matters: Profit from investments accounted for at equity, comprising the profit from the investments held by Porsche SE in Volkswagen AG and Porsche Zwischenholding GmbH, came to 1.93 billion euro. Of this figure, 202 million euro was attributable to the Porsche Zwischenholding GmbH group and 1.72 billion euro to the Volkswagen group. On the other hand, the Porsche SE group’s profit was burdened by a non-cash special effect from the valuation of the put and call options for the shares in Porsche Zwischenholding GmbH remaining with Porsche SE totaling minus 1.64 million euro. Due to this special effect, profit after tax in the first half of 2011 was considerably lower than in the first quarter of 2011 at 691 million euro. Read more