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April 22, 2016updated 09 Apr 2021 9:50am

Volkswagen AG 2015 loss hits Porsche SE results

Volkswagen AG's group loss after tax for fiscal year 2015 of EUR1.361bn will have a corresponding negative effect on the group results of Porsche SE which holds a 30.8% stake in the Wolfsburg automaker.

Volkswagen AG’s group loss after tax for fiscal year 2015 of EUR1.361bn will have a corresponding negative effect on the group results of Porsche SE which holds a 30.8% stake in the Wolfsburg automaker.

“Taking into account this development, Porsche SE’s group loss before tax will presumably amount to EUR456m for fiscal year 2015,” Porsche said in a statement on Friday (22 April). “Due to a positive effect from tax refunds, the group loss after tax will presumably amount to EUR273m. However, net profit will be EUR871m “due to the dividend received from Volkswagen AG in fiscal year 2015 for fiscal year 2014”, Porsche added.

A dividend of EUR0.204 per ordinary share and EUE0.21 per preference share is proposed. The Porsche SE supervisory board meets on Monday (25 April) and is expected to decide on the approval of separate and consolidated financial statements and its dividend proposal to the annual general meeting.

The full FY2015 annual report is due out on 29 April.

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