Tagged Porsche Automobil Holding SE

Profit after tax reaches 149 million euro in the first half of the year

Very good operating development of investments / burden from non-cash special effect

Stuttgart, 2 August 2011. In the first six months of the fiscal year 2011, Porsche Automobil Holding SE, Stuttgart (Porsche SE) reported profit after tax of 149 million euro at group level. In the first half of 2010, the group had reported a loss of 1.62 billion euro.

The profit for the first six months of 2011 was primarily influenced by two matters: Profit from investments accounted for at equity, comprising the profit from the investments held by Porsche SE in Volkswagen AG and Porsche Zwischenholding GmbH, came to 1.93 billion euro. Of this figure, 202 million euro was attributable to the Porsche Zwischenholding GmbH group and 1.72 billion euro to the Volkswagen group. On the other hand, the Porsche SE group’s profit was burdened by a non-cash special effect from the valuation of the put and call options for the shares in Porsche Zwischenholding GmbH remaining with Porsche SE totaling minus 1.64 million euro. Due to this special effect, profit after tax in the first half of 2011 was considerably lower than in the first quarter of 2011 at 691 million euro. Read more

Preference shareholders to receive dividend of 50 Eurocent per preference share

Ordinary shareholders will not participate in dividend distribution for the benefit of the preference shareholders / dividend of 50 Eurocent per preference share intended / preference shareholders no longer pursue special audit

Stuttgart, 5 May 2011. The ordinary shareholders of Porsche Automobil Holding SE, Stuttgart, have declared vis-à-vis the company that they will not participate in the dividend distribution for the rump fiscal year 2010 and that the dividend shall be paid out exclusively to the holders of the preference shares. In coordination with the consortium banks of the syndicated loan, up to 80 million EUR may be distributed as a dividend for the rump fiscal year 2010. A dividend of 50 Eurocent per preference share is intended. By this step, the ordinary shareholders (including the families Porsche and Piëch) on the one hand intend to honor the continued support of the holders of the preference shares, with a view to the capital increase implemented in April 2011 and the low dividend for the two past fiscal years. Read more

Porsche to align fiscal year with the calendar year

Supervisory board and executive board propose change of fiscal year to the annual general meeting

Stuttgart. The supervisory board and the executive board of Porsche Automobil Holding SE, Stuttgart, have decided to propose to the next annual general meeting that the Porsche fiscal year be aligned with the calendar year. The company’s fiscal year currently runs from 1 August of one year to 31 July of the following year. If the annual general meeting on 29 January 2010 in the Porsche-Arena in Stuttgart approves the change, Porsche will have an abbreviated fiscal year in the coming year. It would be introduced following the close of the fiscal year 2009/10 ending 31 July 2010 for the period from 1 August 2010 to 31 December 2010. The year 2011 would then be the first fiscal year of Porsche to match the calendar year.
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