Stuttgart, 5 November 2013. Porsche Automobil Holding SE (Porsche SE), Stuttgart, generated group profit of 1.99 billion euro for the period from 1 January 2013 to 30 September 2013. The corresponding figure for the prior-year period had been 7.53 billion euro and was significantly influenced by the non-recurring positive effect on earnings from the contribution of the Porsche SE group's operating business to Volkswagen AG as of 1 August 2012 in an amount of 4.86 billion euro.
The development in the current reporting period mainly results from the profit from investments accounted for at equity of 2.03 billion euro and includes the profit contribution of the Volkswagen group attributable to Porsche SE. The profit from investments accounted for at equity was still 3.93 billion euro in the prior-year period. This figure mainly included the effect from the contribution of the business operations of 1.4 billion euro.
Net liquidity of the Porsche SE group, i.e., cash, cash equivalents and time deposits less loan liabilities, improved slightly from 2.56 billion euro as of 31 December 2012 to 2.63 billion euro as of 30 September 2013. This is mainly due to the net dividend of 386 million euro received from Volkswagen AG and to a tax refund totaling 326 million euro. There was a cash outflow of 615 million euro from the distribution of the dividend for the fiscal year 2012 to the shareholders of Porsche SE.
On the legal side, there were no significant new developments on the preceding quarter in Q3 of 2013.
In the fiscal year 2013, the group profit/loss of Porsche SE will be largely dependent on the profit/loss of the Volkswagen group accounted for at equity that is attributable to Porsche SE. Overall, on the basis of the current group structure, the company continues to expect a low single-digit billion-euro group profit for the current fiscal year 2013.
You can find the interim report of Porsche Automobil Holding SE for the period from 1 January to 4 November 2013 at:
www.porsche-se.com/pho/en/investorrelations/mandatorypublications/interimreport/
