Stuttgart, 23 July 2021. As in the prior year, Porsche Automobil Holding SE (Porsche SE), Stuttgart, is holding its annual general meeting virtually today. The chairman of the board of management of Porsche SE, Hans Dieter Pötsch, is reporting on the past fiscal year 2020 and giving an outlook on the current fiscal year 2021.
For 2020, Porsche SE reported a group result after tax of 2.6 billion euro. This 40.5 percent decrease compared to the prior year is mainly attributable to the effects of the Covid-19 pandemic. “If these figures are considered in light of the economic impact of the Covid-19 pandemic, it becomes clear how robustly and strongly Porsche SE is positioned with its investment in the Volkswagen Group. Our trust in Volkswagen is paying off. This is underpinned by the positive share performance of Volkswagen AG”, says Pötsch.
In the first three months of 2021, the group result after tax of Porsche SE increased considerably to 995 million euro. This compares to the 99 million euro reported in the prior-year period. As of 31 March 2021, net liquidity was virtually unchanged compared to the end of 2020 at 558 million euro.
The annual general meeting will decide on the proposed dividend of 2.21 euro per preference share and of 2.204 euro per ordinary share. This is unchanged on the prior year and corresponds to a payout of around 676 million euro.
The results of the annual general meeting’s voting will be published at: www.porsche-se.com/en/investor-relations/annual-general-meeting/
Porsche Automobil Holding SE is a listed holding company that has been listed on the MDAX since 22 March 2021. In addition to the core investment in Volkswagen, Porsche Automobil Holding SE also invests in portfolio companies in the areas of mobility and industrial technology.