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Porsche 9-month group profit climbs

Porsche
Porsche   Profit before tax amounted to 2.211 billion euros

Porsche Automobil Holding reported that its group profit for the first nine months of fiscal 2017 was 2.195 billion euros, 34 percent higher than prior-year period's 1.635 billion euros.


According to the company, the group profit for the period was significantly influenced by the profit from the investment accounted for at equity in Volkswagen AG of 2.26 billion euros, compared to 1.69 billion euros last year.

Profit before tax amounted to 2.211 billion euros, higher than 1.641 billion euros a year ago.

Looking ahead, Porsche SE still expects a group profit of between 2.1 billion euros and 3.1 billion euros for the fiscal year 2017.

Moreover, Porsche SE still aims to achieve positive net liquidity in the region of 0.7 billion euros to 1.2 billion euros as of 31 December 2017, not taking future investments into account.

The outlook is based on the current group structure, in particular on the basis of the Volkswagen Group's expectations regarding its future development and the uncertainty surrounding possible special items in connection with the diesel issue.

 

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