Porsche Holding Vz. Stock News

Stuttgart. Porsche AG ended the 2024 financial year with a robust result in a challenging environment. The sports car manufacturer marked record sales in four out of five regions of the world, as well as strong automotive net cashflow, which almost reached the record levels of 2023. With the 911, Cayenne, Panamera, Taycan, and the electric Macan, Porsche renewed five out of its six model lines ...

Porsche AG (ETR:P911) shares hit reverse gear, falling 1.5% in early trading, after the luxury carmaker slashed another profitability target. The German auto giant now expects a return on sales of 15% to 17%, down from the 19% goal set during its 2022 stock market debut.

The company warned investments and costs of reshaping will hit earnings this year and expects markets to remain challenging.

Porsche said on Wednesday it will keep its dividend for 2024 at the previous year's level despite a 30.4% drop in net profit, according to Reuters calculations, as the luxury carmaker battles high costs and intense competition in China.

Die Volkswagen-Eigentümerholding Porsche SE DE000PAH0038 hat wegen hoher Abschreibungen auf ihre Beteiligungen an VW DE0007664039 und dem Sportwagenhersteller Porsche AG DE000PAG9113 einen Milliardenverlust erlitten.

Porsche SE , Volkswagen's largest shareholder, expects a 2024 loss after tax of around 20 billion euros ($21.7 billion), it said on Friday, citing previously disclosed impairments on its holding in Europe's top carmaker.

Volkswagen and Porsche CEO Oliver Blume said his dual role at the helm of both companies was not meant to last forever but was necessary to complete the restructuring underway at the brand and wider group, WirtschaftsWoche magazine reported on Friday.

Porsche Automobil Holding SE / DE000PAH0038