March 20, 2018 / 9:31 AM / a month ago

Porsche SE targets higher 2018 net profit

STUTTGART, Germany (Reuters) - Porsche SE (PSHG_p.DE), the majority shareholder in Volkswagen (VOWG_p.DE), is targeting higher net profit this year as Europe’s largest automaker keeps pushing operational changes following its emissions scandal.

FILE PHOTO - Journalists attend the annual news conference of the Porsche Automobil Holding SE in Stuttgart March 15, 2012. REUTERS/Alex Domanski

Net profit will increase to between 3.4 billion euros and 4.4 billion euros ($4.2-$5.43 billion) this year from 3.33 billion in 2017, Porsche SE said on Tuesday.

The guidance was based on Volkswagen’s (VOWG_p.DE) expectations for future business and noted “continuing uncertainties” related to the emissions scandal, it said.

    Net liquidity may come in between 0.7 and 1.2 billion euros after 937 million last year, the holding company said, adding it has proposed a dividend of 1.76 euros per preference share.

    ($1 = 0.8103 euros)

    Reporting by Ilona Wissenbach and Andreas Cremer; Editing by Victoria Bryan

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