STUTTGART (dpa-AFX) - Porsche Automobil Holding SE (POAHY.PK), the company that holds majority of shares in Volkswagen AG, Monday said its first-quarter Group profit climbed 49 percent to 986 million euros from 661 million euros last year .
This result was significantly influenced by the profit from the investment accounted for at equity in Volkswagen, the company noted.
Looking ahead, Porsche SE said it continues to expect a group profit for the year of between 2.1 billion euros and 3.1 billion euros for the fiscal year 2017. The outlook is based on the current group structure, in particular on the basis of the Volkswagen's expectations regarding its future development and the existing uncertainties with regard to possible special effects in connection with the diesel issue.
Furthermore, Porsche SE continues to aim to achieve - not taking future investments into account - net liquidity of between 1.0 billion euros and 1.5 billion euros as of 31 December 2017.
Copyright RTT News/dpa-AFX