Porsche SE, the holding company of the Porsche and Piech families and majority shareholder of Volkswagen's ordinary shares, has reaffirmed its outlook for 2023 despite a decline in profits in the first nine months. As the company announced, the after-tax profit in 2023 is expected to be in the lower half of the forecasted corridor of 4.5 billion to 6.5 billion euros. Compared to the previous year, when the profit was still at 4.8 billion euros, this is a decline to 3.8 billion euros.
The most significant factor for the development of Porsche SE is the business performance of Volkswagen AG. After all, VW was able to record a significant increase in sales in the first nine months of the year, while profits remained at the previous year's level due to higher costs.
Porsche SE Confident about the Group's Net Liquidity for 2023. According to company data, it will continue to be in the upper half of the initially forecasted range of minus 6.1 billion to minus 5.6 billion euros. Last year, the loss due to debts for the purchase of shares in Porsche AG during the IPO was 6.7 billion euros.
The Porsche SE stock was finally able to increase by 0.91 percent to 44.18 Euros in XETRA trading. An encouraging result for investors, which also strengthens the outlook for the future.
Despite temporary profit decline, Porsche SE remains confident and reaffirms its outlook for 2023. With a strong focus on Volkswagen's business development and a stable financial position, the company is well positioned to maintain long-term success. A promising outlook for investors and a significant step for the future of Porsche SE.
