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Porsche had a tough first half of the year

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Porsche felt the pandemic's effects

Porsche started the week on the wrong foot.

Like many other companies, it has also been hit by the pandemic. Porsche reported €329 million after-tax loss for the first six months of 2020. During the same time last year, they had an after-tax profit of €2.38 billion. 

The carmaker’s unit sales plummeted 19.9% to 12,192 units in Q2 in the US. Apart from Porsche 911, the rest of the models' sales slipped between 27.9% up to 68.3%. Porsche 911 sales went up 30.1%.

Porsche’s net liquidity figures came in at €505 million. In part, the liquidity came from a Volkswagen shares acquisition. 

According to Porsche, the net liquidity forecast remains positive. The company is looking for as much as €0.9 billion by the end of 2020.

Currently, Porsche stock price is trading lower by 1.45%.

See on CAPEX.com how the pandemic affected other carmakers!

Sources: marketwatch.com, seekingalpha.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.