The listed Holding Porsche SE, in which the billionaire families Porsche and Piëch bundle their car participations at the Volkswagen Group and Porsche AG, has had a difficult year. As already announced, the net loss due to high impairments last year was around 20 billion euros. A year earlier, the company had made 5.1 billion profit. In order to better cut this year, the families around clan leader Wolfgang Porsche (81) penetrate a strict compliance with savings efforts
in the core participations. In addition, according to CEO Hans Dieter Pötsch (73), the investment company is thinking about building up a third strong pillar. Armaments gags are also conceivable for new investments, as it was said by the Stuttgart on Wednesday.
That would be a remarkable turn for family holding. Many companies, especially from the car and supplier industry, are currently thinking about such a step. In view of the less busy car factories and the high demand for armaments goods, manufacturers hope for lucrative business opportunities. The Porsche SE is about investments.
The holding had already announced that it would sprinkle its portfolio more in the future. Among other things, the Porsche SE had involved in the bus-and-railway start-up Flix; There are also investments in 14 other companies. Pötsch now spoke of considerations of building a third important core participation in addition to the large stock packages to VW and Porsche. The group currently has around 2 billion euros in liquidity, such businesses are also possible with partners. “We also work on such projects.” Pötsch, at the same time supervisory board head of the Volkswagen Group, generally referred to possible opportunities in connection with the billion-dollar state financial programs for defense and infrastructure.
The board member Lutz Meschke (58) responsible for portfolio management explicitly said that engagements in the armaments area were also conceivable. The Porsche SE wants a “global investment platform” with a focus on industrial technology and mobility. There are no fear of contact with the armaments industry. So could The drones developed by Quantum Systems
– Porsche SE has been involved in the company since 2024 – also used for military education. Europe needs defense ability to protect democracy, as well as more independence from Asia and the USA.
Hold on to portfolio us austerity course
Otherwise, the family holding holds on its portfolio. Porsche SE holds the majority of the voting rights at the Volkswagen Group and a blocking minority at the Sportwagenbauer Porsche AG, which majority belongs to the Volkswagen Group. Nothing should change in the role as a long -term anchor shareholder of Volkswagen. He wanted to say “Klipp and Klar” that there are currently no considerations of parting to part with part of the two core participations, said Pötsch with a view to media reports, according to which the owner families Porsche and Piëch consider sales of VW shares. “There is no such intention.”
However, the past year was bitter for the Porsche SE. On the book values of her two main participations, she had to make high depreciation last year because the business had developed worse than before and because the prospects are less clear. The depreciation amounts to 19.9 billion euros for Volkswagen participation and 3.4 billion euros for Porsche AG. The bottom line was that to the immense deficiency. Without these non -payment effects, the net result of Porsche SE would have dropped from 5.1 to 3.2 billion euros.
The shareholders can expect a dividend again this year – but it is lower. The dividend should decrease from 2.56 to 1.91 euros in the DAX. In addition, there could be further values, as Pötsch now made clear. Johannes Lattwein, CFO of Porsche SE, put the value of the VW participation currently still in the books at a little more than 200 euros per share, which Porsche AG is around 63 euros. However, Volkswagen’s stem and preferential shares on the stock exchange currently write down at a level of just over 100 euros. The Porsche-AG preference share is currently being traded over 51 euros.
At Volkswagen and Porsche, the family holding continues to penetrate the austerity course. “Due to the focused implementation of the strong programs in our core participations, we see considerable value increase potential,” said Pötsch. In the Volkswagen Group, the core brand VW Car had announced before Christmas to want to dismantle over 35,000 jobs in Germany by 2030 and thus, for example, every fourth workplace. At the sports car manufacturer Porsche, 1,900 jobs should be canceled, at the VW subsidiary Audi it is 7,500 jobs in the coming years.
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For the current year, Porsche SE expects an adjusted group result between 2.4 and 4.4 billion euros. The net debt is said to be between 4.9 and 5.4 billion euros after it dropped by half a billion to 5.2 billion euros last year.