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Porsche Holding Eyes Acquisitions As Profits Climb
Porsche Automobil Holding SE reports its net profit soared 17% to €1 billion in the second quarter.
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Porsche Automobil Holding SE reports its net profit soared 17% to €1 billion in the second quarter.
The company's only asset is its majority stake in Volkswagen AG. Porsche SE sold its carmaking unit to VW two years ago.
Porsche SE says it intends to spend much of its €2.5 billion in cash to buy small and midsize automotive component suppliers, perhaps in such areas as drivetrain and safety.
The holding company also confirms that it expects its full-year profit to be between €2.2 billion and €2.7 billion.
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