24.02.2022 Porsche Automobil Holding SE  DE000PAH0038

DGAP-Adhoc: Porsche Automobil Holding SE: Porsche Automobil Holding SE resolves to further examine and generally support a possible IPO of Dr. Ing. h.c. F. Porsche AG


DGAP-Ad-hoc: Porsche Automobil Holding SE / Key word(s): Letter of Intent/IPO
Porsche Automobil Holding SE: Porsche Automobil Holding SE resolves to further examine and generally support a possible IPO of Dr. Ing. h.c. F. Porsche AG

24-Feb-2022 / 19:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Based on discussions between Porsche Automobil Holding SE (Porsche SE) and Volkswagen AG about a possible IPO of Dr. Ing. h.c. F. Porsche AG (Porsche AG), the executive board of Porsche SE resolved today, with the approval of the supervisory board of Porsche SE, to further examine and generally support the feasibility of a potential IPO of Porsche AG based on previous discussions.

For this purpose, Porsche SE and Volkswagen AG today entered into a cornerstone agreement, which summarizes the content of the previous discussions and forms a basis for the next steps of preparation for a possible IPO. The actual feasibility of an IPO depends on a number of different parameters as well as general market conditions. No final decisions have been made. Moreover, the agreements in the cornerstone agreement for a possible IPO are subject to numerous conditions, including the final approval of the boards of both parties.

According to the current status of discussions, in case of an IPO, the share capital of Porsche AG will be divided in 50% preferred shares (Vorzugsaktien) and 50% ordinary shares (Stammaktien) and, in the course of a possible IPO, approximately 25% of the preferred shares will be placed in the capital market. In connection with a possible IPO, Porsche SE would acquire 25% plus one share of the ordinary shares of Porsche AG from Volkswagen AG for the listing price of the preferred shares plus an additional premium of 7.5%. With the positive support of a possible IPO of Porsche AG, Porsche SE supports the plans of Volkswagen AG to expand the financial flexibility of Volkswagen AG and increase the entrepreneurial potentials of Porsche AG. Volkswagen AG would still include Porsche AG by full consolidation in its consolidated financial statements following the completion of an IPO. A continuation of the industrial cooperation between Volkswagen AG and Porsche AG is intended also following a possible IPO.

Volkswagen AG would use the proceeds from a possible IPO of Porsche AG for the financing of the industrial and technological transformation of the Volkswagen group as well as for further growth. It has further been agreed that, in case of an IPO of Porsche AG, Volkswagen AG will propose to its shareholders to pay a special dividend in the amount of 49% of the total gross proceeds of the placement of the preferred shares and the sale of the ordinary shares. Such a proposal of a special dividend will be approved by Porsche SE.

Frank Gaube
General Manager Investor Relations
[email protected]

24-Feb-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Porsche Automobil Holding SE
Porscheplatz 1
70435 Stuttgart
Phone: +49 (0)711 911-11046
Fax: +49 (0)711 911-11819
E-mail: [email protected]
Internet: www.porsche-se.com
ISIN: DE000PAH0038
Indices: DAX
Listed: Regulated Market in Berlin, Frankfurt (General Standard), Munich, Stuttgart; Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Tradegate Exchange
EQS News ID: 1287887

End of Announcement DGAP News Service

1287887  24-Feb-2022 CET/CEST


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023
Umsatzerlöse1 34,00 103,00 116,00 0,00 0,00 0,00 0,00
EBITDA1,2 3.366,00 3.583,00 4.414,00 2.659,00 4.573,00 4.692,00 5.413,00
EBITDA-Marge3 9.900,00 3.478,64 3.805,17 0,00 0,00 0,00
EBIT1,4 3.360,00 3.500,00 4.393,00 2.658,00 4.572,00 4.691,00 5.412,00
EBIT-Marge5 9.882,35 3.398,06 3.787,07 0,00 0,00 0,00 0,00
Jahresüberschuss1 3.332,00 3.473,00 4.408,00 2.624,00 4.566,00 4.787,00 5.096,00
Netto-Marge6 9.800,00 3.371,84 3.800,00 0,00 0,00 0,00 0,00
Cashflow1,7 250,00 558,00 722,00 773,00 733,00 791,00 1.873,00
Ergebnis je Aktie8 10,88 11,34 14,39 8,57 14,90 15,32 16,64
Dividende8 1,76 2,21 3,11 2,21 2,56 2,56 1,01
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Grant Thornton

Porsche Auto. Hold. VZ
WKN Kurs in € Einschätzung Börsenwert in Mio. €
PAH003 43,260 Kaufen 13.248,38
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
5,48 5,33 1,02 3,83
0,24 7,08 0,00 3,51
Dividende '22 in € Dividende '23 in € Div.-Rendite '23
in %
2,56 2,56 5,92 11.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
14.05.2024 13.08.2024 13.11.2024 21.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-6,97% -7,24% -6,61% -19,95%
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Automobile , PAH003 , PAH3 , XETR:PAH3