Stuttgart, 20 October 2023. Volkswagen AG, Wolfsburg, today announced that it is updating its forecast for the fiscal year 2023. Accordingly, Volkswagen AG now expects full-year operating profit in 2023 to be in the region of the prior-year figure before special items. Operating profit in 2022 was around €22.5 billion before special items.
Irrespective of this, Porsche Automobil Holding SE (Porsche SE), Stuttgart, confirms its previously communicated earnings forecast. For the fiscal year 2023, the Porsche SE group profit after tax is expected to be in the lower half of the forecasted bandwidth.
Due to its equity investment in Volkswagen AG of around 31.9 percent, the group result after tax of Porsche SE is significantly influenced by the at equity result attributable to Porsche SE and, thus by the group result after tax at the level of Volkswagen.