Porsche SE's Profit Warning is One For The History Books -- Market Talk

Dow Jones12-16

1108 GMT - Porsche Automobil Holding SE has announced a profit warning for the history books, expecting a non-cash write-down of up to 22 billion euros, Stifel analyst Daniel Schwarz writes. The warning is due to the gap between the book value and market value of Porsche SE's stakes in Volkswagen and Porsche AG. Porsche SE uses Volkswagen and Porsche AG dividends to pay debt interest and deleverage, but Stifel says future dividends could be at risk. Labor leaders want VW to reduce the pay-out ratio, while politicians have stated VW shouldn't pay any dividend. In 2024, Porsche SE received 1.4 billion euros in dividends from VW and 262 million euros from Porsche AG. Porsche SE shares trade 2.3% lower at 35.19 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 16, 2024 06:08 ET (11:08 GMT)

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Labor leaders want VW to reduce the pay-out ratio, while politicians have stated VW shouldn't pay any dividend. In 2024, Porsche SE received 1.4 billion euros in dividends from VW and 262 million euros from Porsche AG. Porsche SE shares trade 2.3% lower at 35.19 euros. 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