Porsche SE boosts pre-tax profit | Automotive Industry News

Porsche SE Stuttgart explained pre-tax financial gain “increased substantially” in the initial 3 months of 2021.

Profit was EUR995m vs . EUR99m noted for Q1 2021.

Volkswagen AG contributed EUR1bn vs . EUR108m a yr before.

At EUR558m, net liquidity of Porsche SE Group remained practically unchanged at 31 March 2021 in comparison to EUR563m on 31 December 2020.

“Porsche SE proceeds to be expecting a good group end result right after tax of amongst EUR2.6bn and EUR4.1bn for the [full] yr 2021. The forecast of the group net liquidity also remains unchanged. With out taking into account long run investments and divestitures, it is envisioned to be amongst EUR0.4bn and EUR0.9bn as of 31 December 2021,” the corporation explained in a statement.

Porsche SE is largely an anchor shareholder and extensive term investor in the Volkswagen Group in which it retains fifty three.three% of the ordinary shares.

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