Porsche Automobil Holding SE(POAHF.PK, POAHY.PK) reported a profit after tax of 601 million euros in the first quarter of 2013, mainly as a result of the profit from investments accounted for at equity. In the reporting period, this profit only contained the profit contribution of the Volkswagen group attributable to Porsche Automobil Holding. In the first quarter of the fiscal year 2013, the financial result came to 10 million euros.
The Porsche SE group's net liquidity increased from 2.56 billion euros, as of 31 December 2012 to 2.9 billion euros as of 31 March 2013. This improvement was attributable to tax refunds. However, this result does not yet include the net dividend of 386 million euros for the fiscal year 2012 paid out by Volkswagen AG in April 2013. The above net liquidity also does not yet take into account the dividend totaling 615 million euros which was approved at the annual general meeting of Porsche Automobil Holding on 30 April 2013 and distributed to the company's shareholders in May 2013.
The company said that in the fiscal year 2013, the consolidated profit/loss will be largely dependent on the profit/loss of the Volkswagen group accounted for at equity that was attributable to Porsche Automobil. In view of the Volkswagen group's expectations regarding future developments in the current fiscal year, the company continues to expect a profit from investments accounted for at equity and thus an overall profit after tax at group level in the low single-digit billion-euro range.
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