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Porsche SE expects net liquidity at year-end in upper forecast range

Published 11/13/2023, 04:10 AM
Updated 11/13/2023, 04:15 AM
© Reuters. People are silhouetted at the Porsche annual meeting in Stuttgard, Germany, May 13, 2015. Volkswagen's controlling Porsche and Piech families have pledged to maintain their engagement in Europe's largest automaker despite last month's dramatic leadership
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BERLIN (Reuters) - Porsche SE said on Monday that net liquidity had improved to a deficit of 5.8 billion euros ($6.20 billion) as of the end of September from minus 6.7 billion euros at the start of 2023, helped by tax refunds totalling some 500 million euros.

© Reuters. People are silhouetted at the Porsche annual meeting in Stuttgard, Germany, May 13, 2015. Volkswagen's controlling Porsche and Piech families have pledged to maintain their engagement in Europe's largest automaker despite last month's dramatic leadership dispute. REUTERS/Ralph Orlowski/File Photo

Volkswagen (ETR:VOWG_p)'s controlling shareholder said it thus expected net liquidity at the end of this year to be in the upper half of the forecast range of minus 6.1 billion euros to minus 5.6 billion euro.

($1 = 0.9354 euros)

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