Porsche 2012 Annual Report Download - page 147

In view of the Volkswagen group’s expectations
regarding future developments in the fiscal years
2013 and 2014, the company expects a profit at-
tributable to it from investments accounted for at
equity in the low single-digit billion euro range.
However, this will continue to be reduced by effects
resulting from amortization of the purchase price
allocation performed in 2009.
The available liquidity of Porsche SE is invested
at an interest rate that is in line with the market.
From this investment, the amount of which depends
in particular on the scope and timing of future in-
vestments, Porsche SE will earn interest income
which in turn depends on the development of the
interest rates. Finance costs will primarily arise from
interest expenses for an existing loan liability due to
a company of the Volkswagen group.
Overall, on the basis of the current group struc-
ture, Porsche SE expects a low single-digit billion-
euro profit after tax for the fiscal years 2013 and
2014.
Stuttgart, 8 March 2013
Porsche Automobil Holding SE
The executive board
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