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:

Comments

Recommended

Mitsubishi finally introduces the new Xpander MPV at the 2017 Indonesia International Auto Show in Jakarta Indonesia. Replacing the previous Expander, the new multipurpose vehicle will be mostly sold at...
by - August 16, 2017
Infiniti revealed its retro Prototype 9 race car before its slated debut at 2017 Pebble Beach Concours d'Elegance next week. In a recent press release, the company not only disclosed...
by - August 16, 2017
In the United States, not many automakers offer crossovers with a diesel engine option, but Chevrolet does, with their 2018 Equinox. Those who opt for this engine will get some...
by - August 16, 2017
Here are some things that potential buyers of the Ford F-150 and Ford Expedition could look forward to for the 2018 model year. The 2018 models of the F-150 pickup...
by - August 15, 2017
We first saw the McLaren 720S earlier this year when it made its debut at the Geneva Motor Show, and we all agree that it is a beautiful car. But...
by - August 15, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries