Porsche SE: Group profit for the period of 2.67 billion euro in the first nine months of the year

Net liquidity stands at 961 million euro / equity increases to 32.52 billion euro

Stuttgart, 20 November 2018. Porsche Automobil Holding SE (“Porsche SE”), Stuttgart, achieved a group profit of 2.67 billion euro for the period from 1 January to 30 September 2018 (prior-year period: 2.14 billion euro). This corresponds to an increase of around 25 percent. Porsche SE’s group profit for the period was significantly influenced by the profit from the investment accounted for at equity in Volkswagen AG, Wolfsburg, of 2.74 billion euro (prior-year period: 2.20 billion euro).

Net liquidity of the Porsche SE Group totaled 961 million euro as of 30 September 2018 compared to 937 million euro as of 31 December 2017. The equity of the Porsche SE Group increased to a total of 32.52 billion euro (31 December 2017: 31.29 billion euro), in particular due to the group profit for the period. The equity ratio remained constant compared to the end of the fiscal year 2017 at 99.1 percent.

Based on current expectations, Porsche SE’s result for the fiscal year 2018 will be between 2.5 billion euro and 3.5 billion euro. Porsche SE originally expected a group profit for the year of between 3.4 billion euro and 4.4 billion euro for the fiscal year 2018. Taking into account the special items at the level of Volkswagen Group in connection with the diesel issue as well as emerging time lags regarding tax compensation claims against Volkswagen AG, the previously communicated guidance for the Porsche SE Group’s result for the period was adjusted in October 2018. This forecast still considers in particular the expectations of the Volkswagen AG regarding its future development and the uncertainty surrounding possible special items in connection with the diesel issue. Moreover, Porsche SE still aims to achieve positive net liquidity in the region of 0.7 billion euro to 1.2 billion euro as of 31 December 2018, not taking future investments into account.

The group quarterly statement as of the third quarter of 2018 of Porsche Automobil Holding SE can be found at: https://www.porsche-se.com/en/investor-relations/financial-publications/