Porsche cannot escape the downward trend
February 5, 2009 – 12:56 pm by CarWale Team
Porsche Automobil Holding SE, Stuttgart, was not able to escape the downward trend in the global automotive industry in the first six months of the current year of business 2008/09 (1 August 2008 - 31 January 2009) and will therefore show a decrease in revenues according to provisional figures of 14.3 per cent to approximately Euro 3 billion. Taking the development of sales by mid-January 2009 as a fundamental indicator, sales in the first half of the business year are expected to have decreased by 27.3 per cent to approximately 34,000 units.
The results of the first six months will not be published by Porsche SE until submission of the half-yearly Financial Report in March, since, according to the International Financial Reporting Standard (IFRS), the Volkswagen figures for the fourth quarter 2008 still have to be considered and are not yet available. The semi-annual report of Porsche Automobil Holding SE will be comprised of consolidated accounts, since the share of Porsche Automobil Holding SE in Volkswagen AG, reaching 50.76 per cent of VW’s ordinary stock on 5 January 2009, exceeded the 50 per cent threshold.
Tags: Porsche, Porsche 2008, Porsche 2008 sales, Porsche 2009
