Tagged porsche

Porsche Supervisory Board agrees on the contracts of implementation

Intensive negotiations with Volkswagen concluded successfully

Stuttgart. The Supervisory Board of Porsche Automobil Holding SE has given its approval for the contracts in today’s meeting, for the regulation of implementing the foundation agreement for the merger of the company with Volkswagen AG. The Executive Board of the Wolfsburg automobile company had already approved of the contracts in its meeting.

In the contracts of implementation, the organizational, structural and legal details of the consolidation of both companies are provided with binding regulations. The closing of these represents further important steps on the way towards the integrated automobile group, which should be realized during the course of the year 2011. The next milestone will be the planned 49.9 percent participation of Volkswagen in the Porsche AG by the end of 2009.
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Earnings of the Porsche Group affected by special influences

Executive Board and Supervisory Board decide on a proposed dividend

Stuttgart. At its meeting today, the Supervisory Board of Porsche Automobil Holding SE ratified the financial statements reporting a loss before tax of 4.4 billion Euro for the fiscal year 2008/09 (ending 31 July 2009). Last year the group reported a profit before tax of 8.6 billion Euro. The primary factor in the loss reported by Porsche SE was the write-down recognized for the cash settlement options to Volkswagen shares. This impairment loss was recorded at the end of the reporting period and paved the way for the sale of the substantial part of the options to the Emirate of Qatar.
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Porsche Sees End of Slump in Sales

New Jobs Created Once Again

Stuttgart. Porsche Automobil Holding SE, Stuttgart, has not gone unscathed by the severe slump of the economy in the world market in the year of business 2008/2009 (to July 31). As the company announced on Tuesday at the Frankfurt Motor Show IAA in providing an initial overview of the business year that has just ended, the expected car sales by its subsidiary Dr. Ing. h.c. F. Porsche AG, dropped 24 per cent to approximately 75.200 units. In comparison, revenues were down by only 12 per cent to an estimated amount of Euro 6.6 billion. In the words of Michael Macht, Executive Board Member of Porsche SE and Chief Executive Officer of Porsche AG, this should mark the lowest point in the slump: “Although the next few months will remain difficult, we are moderately optimistic for calendar 2010”, he stated in Frankfurt.
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Porsche Says It Is Working on Alternative Powered Sports Car

New CEO unveils four new high-powered 911s and hints at future hybrid and electric vehicles at Frankfurt Auto Show

ATLANTA, September 15, 2009 – Speaking publicly for the first time at the Frankfurt Auto Show, Porsche’s new president and CEO, Michael Macht, revealed that Porsche is considering and working hard on an electric-powered sports car that would meet the high demands of the Porsche brand.

“I am also convinced that one day Porsche will have an electric sports car in its line-up,” said Macht at the company’s press conference today. While he cautioned that so far the available battery technology is not “sufficient to meet Porsche’s strict requirements,” he said “our engineers are already working hard on this challenge.”
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911 Sport Classic – Exclusive for 250 Fans of the 911

Stuttgart. Dr. Ing. h.c. F. Porsche AG, Stuttgart, has refined the DNA of the 911 to what must be the most supreme standard of class and style in the 911 Sport Classic available to a strictly limited number of very special 911 enthusiasts. Creating this unique model, Porsche is bringing back the tradition of exclusive small series built in very small numbers. The 911 Sport Classic will be presented at the 2009 Frankfurt Motor Show and is limited in production to just 250 cars.

This very special 911 from Porsche Exclusive has been developed over a project period of about three years, with lots of love for detail, catering especially for the most demanding group of genuine aficionados. Porsche Exclusive is Porsche’s Specialist Department for the most outstanding customised versions of Porsche cars going beyond even the highest standard of the Company’s regular production models.
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