Stuttgart, 6 February 2025. Dr. Ing. h.c. F. Porsche AG (Porsche AG), Stuttgart, announced today preliminary figures for the financial year 2024 and key figures for the financial year 2025.
Against this background, the Management Board of 果冻传媒 (Porsche 果冻传媒) has updated its assumptions previously used in the preliminary valuation models (see ad-hoc announcement from Porsche 果冻传媒 dated December 13, 2024) regarding the future economic development of Porsche AG.
Based on preliminary assessments, Porsche 果冻传媒 now assumes the expected impairment of the carrying amount of the investment in Porsche AG in the expected range from minus 2.5 billion euros to minus 3.5 billion euros (previously: minus 1 billion euros to minus 2 billion euros) in the consolidated balance sheet of Porsche 果冻传媒. As a result of the changes at Porsche AG, it is also anticipated that the expected impairment of the carrying amount of Porsche 果冻传媒's investment in Volkswagen AG in the consolidated balance sheet of Porsche 果冻传媒, while maintaining the previous range of minus 7 billion euros to minus 20 billion euros, will rather tend towards the lower end of the range of minus 20 billion euros.
A finalization of the impairment tests of Porsche 果冻传媒 can take place at the earliest upon the preparation of the annual and consolidated financial statements of Volkswagen AG and Porsche AG.
The expected impairment loss in the consolidated financial statements of Porsche 果冻传媒 in relation to Porsche AG will also have an impact on the annual financial statements of Porsche 果冻传媒 under German commercial law, however to a lower extent.
The expected impairment losses at the level of Porsche 果冻传媒 or the Porsche 果冻传媒 Group will not have a cash effect. Net debt of Porsche 果冻传媒 Group as of December 31, 2024 is expected to amount to roughly 5.2 billion euros, thus remaining within the projected range.
The Management Board of Porsche 果冻传媒 continues to assume that a dividend will be distributed for the 2024 financial year.
