STUTTGART (dpa-AFX) - Porsche Automobil Holding SE (POAHY.PK, POAHF.PK) reported that its fiscal 2017 group profit rose by 143 percent to 3.33 billion euros from 1.37 billion euros in the prior year. Group profit for the year was predominantly influenced by the profit of 3.41 billion euros from the investment accounted for at equity in Volkswagen AG, Wolfsburg.
Net liquidity of the Porsche SE Group decreased to 937 million euro as of 31 December 2017. The Group said the decrease is primarily attributable to the acquisition of the PTV Group, Karlsruhe.
For fiscal 2018, Porsche SE expects a group profit of between 3.4 billion euros and 4.4 billion euros. Porsche SE aims to achieve positive net liquidity. This is expected to be between 0.7 billion euros and 1.2 billion euros as of 31 December 2018, not taking future equity investments into account.
Porsche SE plans to distribute a dividend of 1.76 euros per share for fiscal 2017 to the holders of preference shares. Holders of ordinary shares should receive 1.754 euros per share. The proposed dividend will be presented for decision to the annual general meeting on 15 May 2018.
Copyright RTT News/dpa-AFX