Porsche SE, the controlling shareholder of Volkswagen, is well-positioned to pursue further investments as part of its strategy to diversify its portfolio, according to the company’s finance chief. Announcing the first-half results on Tuesday, Johannes Lattwein, Porsche SE’s board member for finance and IT, highlighted the company’s financial flexibility, which could be leveraged to explore new core and portfolio investments.
“Our financial resources provide us with significant flexibility for potential investments,” Lattwein stated. He emphasized the group’s proactive approach to portfolio development, noting that the current stock market environment, characterized by a general decline in company valuations, is creating attractive investment opportunities.
On Monday, Porsche SE disclosed its participation in an investor group acquiring a 35% stake in Flix SE, the parent company of Greyhound services in North America and FlixBus in Europe. The group’s portfolio, which predominantly includes non-listed companies, was further expanded with a recent investment in the Canadian AI company Waabi Innovation Inc.
Despite the strategic investments, Porsche SE reported a decrease in its net result after tax for the first half of the year, down to 2.1 billion euros ($2.3 billion) from 2.3 billion euros the previous year. For the full year, the company is aiming for a pre-tax net result between 3.5 billion and 5.5 billion euros.
Additionally, Porsche SE managed to reduce its net debt from 5.7 billion euros at the end of last year to 5.0 billion euros as of June 30, placing it at the lower end of its guidance range for the year.
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