Porsche SE posts EUR7.42bln in profit after tax for first nine months 2012

Article by Anita Panait, on October 31, 2012

Porsche Automobil Holding SE (Porsche SE) posted EUR7.42 billion in profit after tax for the first nine months of fiscal year 2012. Porsche SE’s profit is mainly attributed to the contribution of the holding business operations of Porsche SE to Volkswagen AG. On August 1, 2012, Porsche SE and Volkswagen AG achieved their common goal of establishing the Integrated Automotive Group.

In return for the contribution of its holding business operations and its remaining share in its operating business to Volkswagen AG, Porsche SE received one ordinary Volkswagen AG share and EUR4.5 billion in cash. Porsche SE used part of the received cash to repay bank loans in full.

The resulting EUR4.75 billion in one-time effect on earnings is mainly attributed to EUR3.4 billion in income from the contribution of the business operations, and to a positive effect on the profit from investments accounted for at equity of around EUR1.3 billion. As of September 30, 2012, Porsche SE’s net liquidity improved was EUR2.59 billion, compared to negative EUR1.52 billion in net liquidity as of December 31, 2011.

With the establishment of the Integrated Automotive Group, the accounting for the investment in Porsche Zweite Zwischenholding GmbH -- which was renamed Porsche Holding Stuttgart GmbH -- at equity had to cease in July 2012.

This resulted to no further profit or loss from investments accounted for at equity to be attributable to Porsche SE from the investment since July 2012. The Porsche SE group posted EUR3.89 billion in total profit from investments accounted for at equity for the first nine months of 2012.

Topics: porsche

If you liked the article, share on:


Login or Create new account to add a comment!


Starting early 2017, the new Audi Q7 will be available with the new 2.0-liter TFSI four-cylinder engine that makes it not only faster but also lighter and more efficient than...
by - October 25, 2016
Soon, Fiat Chrysler’s Dodge brand will be ending the production of the Dodge Viper. So practically, the 2017 Dodge Viper will be the last Viper up for grabs. Gerry Wood...
by - October 25, 2016
Say hello to the fastest accelerating production car in the world: the new 2017 Tesla Model S P100D. Powered by a 100 kWh battery, this new model basically outruns almost...
by - October 25, 2016
Ever heard of the “Lynk & Co” automotive brand? Well, it is highly likely people haven’t. This is practically because this is new brand created by the joint venture between...
by - October 25, 2016
Mitsubishi is now officially part of the Renault-Nissan alliance after Nissan took over the Japanese car company recently. We know a lot has been happening in the car industry, but...
by - October 24, 2016