Urgent.News

What's breaking now, across thousands of outlets.

Business

Porsche SE: Krise bei Volkswagen und Porsche reduziert Vermögen der Eigentümerfamilie

Die Autobranche steckt in der Krise. Das spürt auch die Volkswagen-Eigentümerholding. Mehrere Beteiligungen werden massiv abgewertet. Der Wert anderer indes steigt – aber nicht genug.

Original German Read in English

Porsche SE: Krise bei Volkswagen und Porsche reduziert Vermögen der Eigentümerfamilie

In the first nine months of this year, Porsche SE experienced a loss of 2.8 billion euros, marking a stark contrast to the 1.2 billion euro profit reported a year prior. The primary cause of these losses is a significant decline in value - over 2 billion euros - mainly due to the declining stakes in Volkswagen and Porsche. Both companies are currently grappling with challenging market conditions, particularly in China and amid the upheaval in the automotive industry.

Despite these losses, the value of the other investments held by Porsche SE rose by 134 million euros, reaching a total of 669 million euros. In the last quarter alone, the company invested a modest amount in Stoke Space Technologies, a US space company. Additionally, Porsche SE participated in follow-on investments in British technology firm Quantum Motion, German defense startup Quantum Systems, Canadian software developer Waabi, and Munich aerospace developer Isar Aerospace.

Overall, the holding now has stakes in 15 technology companies across Europe, North America, and Israel.

Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

This story

This is one outlet's version. Read the fullest account.

Read the original at handelsblatt.com →

More in Business

More from Friday 13 November →