|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||9.42 - 9.55|
|52-week range||6.46 - 12.37|
|Beta (5Y monthly)||1.51|
|PE ratio (TTM)||6.92|
|Forward dividend & yield||0.26 (2.45%)|
|Ex-dividend date||26 Jul 2021|
|1y target est||N/A|
Porsche AG, part of the Volkswagen Group, profits from being part of Volkswagen, its CEO Oliver Blume said on Wednesday, following speculation that an IPO of the luxury unit could be on the cards. Volkswagen's CEO Herbert Diess said on Oct. 28 the company was constantly reviewing its portfolio but provided no further comment.
Porsche SE said on Tuesday its nine-month net income bounced to the lower end of the German automotive group's full-year guidance thanks to profits from Volkswagen, which recovered after a pandemic-related slump last year. The holding company controlled by the Porsche and Piech families, which holds a 53.3% stake in Germany's largest automaker, said its nine-month result after taxes came in at 3.3 billion euro ($3.81 billion). This exceeds Porsche's result for the same period last year by almost seven times and comes close to the net profit range of 3.4-4.9 billion euro the group confirmed it expects to reach in 2021.
Volkswagen CEO Herbert Diess' frail relationship with German labour representatives hit a new low this week with disagreement over how radical the overhaul at Europe's top carmaker must be in its quest for electric vehicle dominance. While both sides tried to demonstrate unity at a staff meeting on Thursday, the first at Volkswagen's giant Wolfsburg plant in nearly two years, there is no guarantee the dispute can be fixed quickly, if it can be fixed at all. In fact, Volkswagen's four-member mediation committee is planning to discuss Diess' future soon, sources have said, creating uncertainty around the carmaker's leadership less than four months after the CEO's contract was extended.