Porsche Automobil Holding SE: Expected settlement between Volkswagen and the US Department of Justice will affect group result of Porsche SE for the fiscal year 2016
Porsche Automobil Holding SE / Key word(s): Forecast
10-Jan-2017 / 19:43 CET/CEST
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Volkswagen AG, Wolfsburg, has confirmed in an ad-hoc statement that it is
in advanced discussions with the US Department of Justice and the U.S.
Customs and Border Protection. The aim of these discussions is to reach a
settlement agreement regarding the settlement of certain criminal
investigations and certain civil fines in connection with the Diesel issue
in the USA.
As a consequence of the capital stake of currently 30.8 percent Porsche
Automobil Holding SE, Stuttgart ("Porsche SE"), holds in Volkswagen AG, the
financial consequences of this expected settlement will also negatively
affect the group result of Porsche SE for the fiscal year 2016.
The concrete implications on the result of the Porsche SE group for the
fiscal year 2016 can only be reliably assessed once Volkswagen group has
conclusively evaluated the financial liabilities resulting from this
settlement. At this point in time it cannot be ruled out that the Porsche
SE group result after tax may fall below the previously communicated
corridor between Euro 1.4 bn. and Euro 2.4 bn.
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Company: Porsche Automobil Holding SE
Phone: +49 (0)711 911-11046
Fax: +49 (0)711 911-11819
Listed: Regulated Market in Berlin, Frankfurt (General Standard),
Munich, Stuttgart; Regulated Unofficial Market in
Dusseldorf, Hamburg, Hanover, Tradegate Exchange
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