Porsche SE's Debt-Reduction Strategy Is Working -- Market Talk

Dow Jones03-22

1026 GMT - Porsche SE's results show a successful strategy for reducing debt, Baader Helvea analyst Saima Hussain says in a note. The holding company, whose core investments are Volkswagen Group and Porsche AG, ended last year owing EUR1 billion less than in 2022--a welcome development, Hussain says. The company, whose liquidity position degraded after acquiring a stake in Porsche AG´s voting share that year, refinanced within four months using a loan and two bonds worth EUR2 billion. The holding company still has EUR5.7 billion in debt, near the ideal end of its guidance range, Baader says. Porsche SE's results also mirror strong results from the two core car-making investments, Hussain says. Shares rise 1.7% to EUR49.39. (david.sachs@wsj.com)

(END) Dow Jones Newswires

March 22, 2024 06:27 ET (10:27 GMT)

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The holding company still has EUR5.7 billion in debt, near the ideal end of its guidance range, Baader says. Porsche SE's results also mirror strong results from the two core car-making investments, Hussain says. Shares rise 1.7% to EUR49.39. 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The holding company, whose core investments are Volkswagen Group and ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"POAHY","symbol_name":"Porsche Automobile Holding SE","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2421697898","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2421697898","pubTimestamp":1711103220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1026 GMT - Porsche SE's results show a successful strategy for reducing debt, Baader Helvea analyst Saima Hussain says in a note. 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