Of the Volkswagen– The main owner Porsche SE expects a net profit of around 2.6 billion euros for the past year. The holding company of the Porsche and Piëch families announced on Friday that, as things stand at present, the group result will likely be in this range. That would be 1.8 billion euros or almost 41 percent less than in 2019. In autumn, however, the gap to the previous year was even greater. In the middle of the year, Porsche SE had Corona break-in even with 329 million euros in the red.
Since the profit is mainly fed by the result of Volkswagen, the Wolfsburg-based carmaker is likely to have posted a net profit of almost 8.3 billion euros last year. Porsche SE has a 31.4 percent stake in Volkswagen’s capital. Based on initial estimates, Volkswagen announced at the end of January that operating profit before special items had been ten billion euros in the past year. As manager magazin already reported, the operating profit has halved compared to 2019. The group announced in January that business recovered towards the end of the year.
Figures from the Volkswagen Group will follow on February 26th
Deliveries to customers continued to recover in the fourth quarter and even exceeded deliveries in the third quarter, which led to strong consolidated sales. The cash inflow (net cash flow) developed very positively and in the automotive business was around six billion euros.
The consequences of the diesel scandal have not yet been taken into account in the January group figures. A spokesman for the Porsche SE family holding company said the net profit attributable to Porsche SE was calculated on the basis of the operating results presented at the time. The VW supervisory board plans to publish the preliminary figures for the car company on February 26th.