By Katherine Hamilton
Porsche Automobil Holding expects group results after tax for 2024 to be a loss of about EUR20 billion, or the equivalent of $21.7 billion, due to noncash effective impairments.
The car company said Friday its impairment of the carrying amount of its investment in Volkswagen is a loss of EUR19.9 billion. It previously guided for a loss of EUR7 billion to EUR20 billion.
The impairment of the carrying amount of Porsche's investment in Porsche AG is a loss of EUR3.4 billion, also on the wider end of the expected range of a EUR2.5 billion to EUR3.5 billion loss.
Net debt as of Dec. 31 is expected to be roughly EUR5.2 billion, within the projected range.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 07, 2025 13:34 ET (18:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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