Volkswagen, Porsche SE Delay Reporting Annual Results

(RTTNews) - Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) said that it delays reporting of results for fiscal year 2015 due to remaining open questions and the resulting valuation calculations relating to the diesel emissions issue.

At same time, the reporting of the annual and consolidated annual financial statements 2015 of Porsche SE will be postponed as well, Porsche Automobil Holding SE (POAHY.PK, POAHF.PK) said in a separate press lease.

As a consequence of the capital stake of currently 30.8 percent Porsche Automobil Holding SE, or Porsche SE, holds in Volkswagen AG, the reporting of the annual results of Volkswagen AG is a necessary precondition for the preparation of the annual results and group profit of Porsche SE.

Before special items Volkswagen anticipates the Operating Result for the Group at the level of the prior year within the expected range for fiscal year 2015.

Porsche SE's previous forecast of a consolidated total group profit after taxes for the fiscal year 2015 of between 0.8 billion euro and 1.8 billion euro was and is subject in particular to new cognition regarding special items in connection with the emissions issue and is furthermore based on the unchanged assumption that the Volkswagen Group's financial result for the fiscal year 2015 will be within the range of the previous expectations. Due to these restrictions, Porsche SE's forecast was and still is inevitably subject to assessment risks.

Volkswagen noted that the new dates for the Annual Press Conference (previously planned for March 10, 2016) as well as the Annual General Meeting of shareholders, (previously planned for April 21, 2016) will be announced as soon as possible.

Consequently, Porsche SE said that the dates for the Annual Press Conference and Analyst Conference (previously planned for March 15, 2016) as well as the Annual General Meeting (previously planned for May 04, 2016) of the company will be postponed. Porsche SE will inform as soon as possible about the new dates to be scheduled.