Porsche SE Withdraws Guidance on Likely Impairment Losses -- Market Talk

Dow Jones12-16

0801 GMT - Porsche Automobil Holding SE has withdrawn its 2024 guidance due to a likely impairment loss on the valuations of its investments in Volkswagen and Porsche AG, Bernstein analysts write. These valuations were in Porsche SE's books at 51.5 billion euros and 10.5 billion euros respectively at the end of September 2024. The company thinks it will need to impair the Volkswagen carrying cost valuation by 7 billion-20 billion euros and Porsche AG by 1 billion-2 billion euros. "We assume the maximum combined 22 billion euros of impairment, triggering a 17.8 billion euro loss at Porsche SE for 2024." Bernstein lowers its Porsche SE target price to 42 euros from 46 euros and retains its market-perform rating. Shares closed at 36.01 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 16, 2024 03:01 ET (08:01 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2491565663?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-16 16:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2491565663","market":"hk","top_or_hot":-1,"title":"Porsche SE Withdraws Guidance on Likely Impairment Losses -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0801 GMT - Porsche Automobil Holding SE has withdrawn its 2024 guidance due to a likely impairment loss on the valuations of its investments in Volkswagen and Porsche AG, Bernstein analysts write. These valuations were in Porsche SE's books at 51.5 billion euros and 10.5 billion euros respectively at the end of September 2024. The company thinks it will need to impair the Volkswagen carrying cost valuation by 7 billion-20 billion euros and Porsche AG by 1 billion-2 billion euros. \"We assume the maximum combined 22 billion euros of impairment, triggering a 17.8 billion euro loss at Porsche SE for 2024.\" Bernstein lowers its Porsche SE target price to 42 euros from 46 euros and retains its market-perform rating. Shares closed at 36.01 euros. (dominic.chopping@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 03:01 ET (08:01 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Porsche SE Withdraws Guidance on Likely Impairment Losses -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPorsche SE Withdraws Guidance on Likely Impairment Losses -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-16 16:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0801 GMT - Porsche Automobil Holding SE has withdrawn its 2024 guidance due to a likely impairment loss on the valuations of its investments in Volkswagen and Porsche AG, Bernstein analysts write. ...</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":"BK4099","symbol_name":"汽车制造商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2491565663","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491565663","pubTimestamp":1734336060,"columns":[],"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":"0801 GMT - Porsche Automobil Holding SE has withdrawn its 2024 guidance due to a likely impairment loss on the valuations of its investments in Volkswagen and Porsche AG, Bernstein analysts write. These valuations were in Porsche SE's books at 51.5 billion euros and 10.5 billion euros respectively at the end of September 2024. The company thinks it will need to impair the Volkswagen carrying cost valuation by 7 billion-20 billion euros and Porsche AG by 1 billion-2 billion euros. \"We assume the maximum combined 22 billion euros of impairment, triggering a 17.8 billion euro loss at Porsche SE for 2024.\" Bernstein lowers its Porsche SE target price to 42 euros from 46 euros and retains its market-perform rating. Shares closed at 36.01 euros. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","POAHY":"Porsche Automobile Holding SE","VWAPY":"Volkswagen AG"},"translate_title":"保时捷SE撤回对可能减值损失的指导——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POAHY":0.9,"VWAPY":0.9},"content_text":"0801 GMT - Porsche Automobil Holding SE has withdrawn its 2024 guidance due to a likely impairment loss on the valuations of its investments in Volkswagen and Porsche AG, Bernstein analysts write. These valuations were in Porsche SE's books at 51.5 billion euros and 10.5 billion euros respectively at the end of September 2024. The company thinks it will need to impair the Volkswagen carrying cost valuation by 7 billion-20 billion euros and Porsche AG by 1 billion-2 billion euros. \"We assume the maximum combined 22 billion euros of impairment, triggering a 17.8 billion euro loss at Porsche SE for 2024.\" Bernstein lowers its Porsche SE target price to 42 euros from 46 euros and retains its market-perform rating. Shares closed at 36.01 euros. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2024 03:01 ET (08:01 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491565663"}