The group result after tax of Porsche Automobil Holding SE, Stuttgart (Porsche SE), for the fiscal year 2020 will presumably be significantly positive, given the fact that Volkswagen AG, Wolfsburg, has announced it expects an operating result before special items related to diesel of around Euro 10 billion.

As a consequence of the capital stake of about 31.4 percent which Porsche SE holds in Volkswagen AG, the group result after tax of Porsche SE group is significantly influenced by the at equity result attributable to Porsche SE and, thus by the group result after tax at the level of Volkswagen group.

The group result after tax of Porsche SE is thus also influenced by additional effects different from the operating result e.g. the financial result at the level of the Volkswagen group. Currently Porsche SE does not have information for the total fiscal year 2020 regarding such other effects.

Thus a quantitative guidance regarding the group result after tax for Porsche SE is currently not yet possible.