Porsche SE Updates Expected Impairments for Investments in Porsche AG and Volkswagen AG

Porsche Automobil Holding SE has announced an update regarding the non-cash effective impairments of its investments in Porsche AG and Volkswagen AG. Preliminary figures for 2024 have prompted a reassessment of these impairments. Porsche SE now expects the carrying amount of its investment in Porsche AG to incur an impairment ranging from minus 2.5 to minus 3.5 billion euros, up from an earlier estimate of between minus 1 and minus 2 billion euros.

Similarly, Porsche SE anticipates that the impairment of its Volkswagen AG investment will remain at the lower end of the previously projected range, between minus 7 and minus 20 billion euros. These impairments will be reflected in the consolidated balance sheet but will not impact cash flow. Porsche SE expects net debt to remain around 5.2 billion euros as of December 31, 2024, with a projected dividend distribution for the 2024 financial year still on track.