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Porsche (NR) guidance cut

AUTOMOTIVE
  • On the 31.9% stake in VW and above guidance cut it is also revising down after tax profit to be in the €2.4b-€4.4b range vs. prev. €3.5-€5.5b forecast.
  • no impact on liquidity and reiterates net debt to be in the €5-€5.5b range

Again looks to be a miss on consensus that is at top-end of revised range. Presser here.

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  • On the 31.9% stake in VW and above guidance cut it is also revising down after tax profit to be in the €2.4b-€4.4b range vs. prev. €3.5-€5.5b forecast.
  • no impact on liquidity and reiterates net debt to be in the €5-€5.5b range

Again looks to be a miss on consensus that is at top-end of revised range. Presser here.