Porsche melhora resultados

[MRS]

BERLIN (Bloomberg) -- Porsche Automobil Holding SE, the maker of the 911 sports car, said operating profit surged more than sevenfold in the fiscal first quarter on demand for the Cayenne SUV and Panamera sedan.

Earnings before interest and tax advanced to 395 million euros ($526 million) between August and October from 52 million euros a year earlier, the Stuttgart-based manufacturer said in an e-mailed statement. Sales climbed 80 percent to 2.1 billion euros.

Deliveries of the Cayenne, Porsche's best-selling model, more than doubled to 10,292 SUVs, while the Panamera, which went on sale about a year ago, also almost doubled to 5,778 cars. Porsche, which will switch to calendar-year reporting in 2011, expects a return on sales that is “clearly” more than 10 percent in the last five months of 2010, it said today.

“It's a fairly good set of numbers and clearly highlights that Porsche's core business is doing well,” said Alexis Albert, a Nomura Securities analyst in London with a “reduce” rating on the shares.

Porsche gained as much as 2.83 euros, or 5.3 percent, to 55.90 euros and was up 4.8 to 55.64 euros as of 11:17 CET in Frankfurt trading, valuing the company at 9.73 billion euros.

Porsche is in the process of merging with Volkswagen AG, Europe's largest carmaker. VW acquired 49.9 percent of Porsche's car-making unit after Porsche last year failed in a hostile takeover attempt for Wolfsburg-based VW.

‘Profitable growth'

Porsche's first-quarter European deliveries rose 63 percent to 7,082 cars, of which 2,318 were sold in Porsche's German home-market. North American sales totaled 6,632 units, the manufacturer said, without providing year-earlier figures.

“Porsche continues to be on a profitable growth course,” Matthias Mueller, head of the automotive division, said in the statement.

Volkswagen agreed to combine with Porsche in August 2009 after the sports-car maker's debt tripled to more than 10 billion euros following a failed bid to buy VW by securing stock through options trading.

VW CEO Martin Winterkorn said Oct. 19 that the planned combination with Porsche may be put on hold until U.S. lawsuits and German tax-related hurdles are resolved. Porsche is being sued by U.S.-based short sellers of VW stock who claim the manufacturer secretly cornered the market in VW shares and later caused them more than $1 billion in losses.

Porsche shareholders will be asked Nov. 30 to approve a capital increase of about 5 billion euros in the first half of next year, with the carmaker's controlling shareholders, the Porsche and Piech families, due to contribute 2.5 billion euros.

The capital increase, which may also include selling convertible bonds, will help Porsche pay back a 2.5 billion euro bank loan slated to expire June 30, 2011. Lenders have agreed to give Porsche additional time until Oct. 31, 2011, to repay the facility should the capital increase be thwarted or delayed.

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[MRS]

Porsche wins dismissal of fund lawsuits over $2 billion losses




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Short-sellers claimed that Porsche misled investors by using manipulative trades to hide its VW stock positions.



Thought Leadership
(Bloomberg) -- Porsche Automobil Holding SE persuaded a judge to dismiss two lawsuits claiming the carmaker cost hedge funds more than $2 billion by misleading short-sellers in its acquisition of Volkswagen AG shares in 2008.

U.S. District Judge Harold Baer in Manhattan Thursday dismissed the complaints filed by hedge funds Elliott Associates LP and Black Diamond Offshore and representing a total of 39 U.S. and foreign-based funds. The suits accused Stuttgart-based Porsche of secretly cornering the market in Volkswagen shares.

The short-sellers claimed that Porsche misled investors by denying through much of 2008 that it intended to acquire Volkswagen and by using manipulative trades to hide its stock positions. Porsche said on Oct. 26, 2008, that it controlled most of Volkswagen's common stock, causing the shares to surge as short-sellers raced to cover their positions.

The court also dismissed claims against Porsche SE's former CEO, Wendelin Wiedeking, and its former chief financial officer, Holger Haerter. Porsche announced the ruling in an e-mailed statement Thursday without commenting on it.



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[bg2]

que grande presente de ano novo.....

[matzagrin]

Têm havido muitas críticas acerca da posição da VW relativamente aos modelos Porsche, nomeadamente no que diz respeito a versões Diesel ou Híbridas.

É certo que os mais puristas consideram essa posição uma heresia e uma afronta a tudo aquilo que significa a Porsche e os seus modelos. No entanto, nos tempos que correm, ou se vende ou não tem futuro.

Basicamente, a VW com opções mais ou menos polémicas está apenas a fazer os possíveis para rentabilizar e vender o maior número de Porsche's possível. Estar a favor ou contra os princípio da Porsche, não lhes interessa. Interessa vender e rentabilizar.

Infelizmente neste momento tudo gira em torno do dinheiro, já não interessam os princípios ou o que caracteriza esta ou aquela marca. Ou se vende bem, ou se acaba.

Daí terem dito, e bem a meu ver, que os verdadeiros desportivos e super-desportivos estão em vias de extinção.

[MRS]

FRANKFURT (Reuters) -- Volkswagen AG CEO Martin Winterkorn will continue to lead Europe's largest automaker for an additional five years, after the company extended his contract.

The decision by Volkswagen's supervisory board to extend the 63-year-old executive's contract to 2016 was unanimous, the company said in a statement on Sunday.

Winterkorn, whose current contract expires on Dec. 31, 2011, was appointed VW CEO on Jan. 1, 2007.

As well as folding Porsche AG into VW's array of nine car and truck brands, VW is planning the construction of new plants in China, the United States and India and aims to expand its cooperation with peer Suzuki Motor Co. All of the steps are part of VW's plan to pass Toyota Motor Corp. by 2018 to become the world's largest automaker, a goal Winterkorn set soon after being prompted to CEO.

Winterkorn had told Der Spiegel in September that he aimed to remain in his position after his current contract expired.



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[MRS]

Porsche dispara em bolsa após fim de processos judiciais nos EUA
03 Janeiro 2011 | 10:58



Juiz norte-americano indeferiu dois processos contra a Porsche, que alegavam que a fabricante de automóveis tinha monopolizado as acções da Volkswagen. Acções disparam mais de 12%.
As acções da Porshce sobem 12,12% para 66,89 euros, o que corresponde à maior subida em mais de 16 meses.

A valorização das acções está relacionada com o facto do juiz Harold Baer ter indeferido dois processos contra a fabricante de automóveis interpostos pelos hedge funds Elliott Associates e Black Diamond Offshore.

A base dos processos alegava que a Porsche tinha custados aos hedge funds mais de dois mil milhões de dólares por ter monopolizado secretamente as acções da Volkswagen.

Em causa estão as várias operações de compra de acções da Volkswagen por parte da Porsche em 2008. Os hedge funds alegam que a empresa enganou os investidores ao negar, até meados de 2008, que tencionava comprar a Volkswagen, tendo alegadamente encoberto a sua posição na fabricante de automóveis alemã através de operadores.

Contudo, a 26 de Outubro, a Porsche anunciou que controlava a maior parte das acções da Volkswagen, o que fez disparar os preços das acções, uma vez que investidores tiveram de cobrir as suas posições.