Porsche AG : A slow start as expected, before an acceleration in H2
>Q1 below forecasts but full-year guidance reiterated - On Friday evening, Porsche reported Q1 revenues down 11% y-o-y to € 9.0bn (cons. at € 9.3bn, ODDO BHF at € 9.2bn), EBIT down 30% y-o-y to € 1.28bn (cons. at € 1.38bn, ODDO BHF at € 1.34bn), and auto FCF of € 107m. The group had already warned that the quarter was set to be the weakest of the year due to: 1/ the renewal the majority of its product range (Cayenne, eMacan, Panamera, Taycan, preparation for the new...
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