Porsche Automobil Holding SE: Porsche SE withdraws its forecast for the group result after tax for the fiscal year 2020

Porsche Automobil Holding SE / Key word(s): Forecast/Annual Results
Porsche Automobil Holding SE: Porsche SE withdraws its forecast for the group result after tax for the fiscal year 2020

16-Apr-2020 / 13:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Porsche Automobil Holding SE, Stuttgart („Porsche SE"), withdraws its forecast for the group result after tax for the fiscal year 2020. The result of the Porsche SE Group is significantly influenced by the at-equity result attributable to Porsche SE and thus by the earnings situation of the Volkswagen Group. Volkswagen AG has announced that it withdraws the outlook for the fiscal year 2020 due to the impact from the Covid-19 pandemic on the business of the Volkswagen Group.

The executive board of Volkswagen AG currently assumes that the previous expectations for the fiscal year 2020 as published in the annual report 2019 can no longer be achieved given the ongoing Covid-19 pandemic and its significant impact on the business of the Volkswagen Group. It is currently not foreseeable for Volkswagen AG when a new forecast for the current financial year is possible. Therefore, also for the executive board of Porsche SE it is not possible to make a new forecast for the time being.

According to the current assessment, the previous forecast of the Porsche SE Group's net liquidity remains unaffected by this development. Without taking further investments into account it lies in a corridor of EUR 0.4 to 0.9 billion as of 31 December 2020.

Contact:
Frank Gaube
General Manager Investor Relations
+49-711-911-11046
frank.gaube@porsche-se.com

16-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	Porsche Automobil Holding SE
	Porscheplatz 1
	70435 Stuttgart
	Germany
Phone:	+49 (0)711 911-11046
Fax:	+49 (0)711 911-11819
E-mail:	InvestorRelations@porsche-se.com
Internet:	www.porsche-se.com
ISIN:	DE000PAH0038
WKN:	PAH003
Listed:	Regulated Market in Berlin, Frankfurt (General Standard), Munich, Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Tradegate Exchange
EQS News ID:	1022819


End of Announcement	DGAP News Service