Porsche SE expects net liquidity at year-end in upper forecast range

BERLIN (Reuters) – Porsche SE said on Monday that net liquidity had improved to a deficit of 5.8 billion euros ($6.20 billion) as of the end of September from minus 6.7 billion euros at the start of 2023, helped by tax refunds totalling some 500 million euros.

Volkswagen’s controlling shareholder said it thus expected net liquidity at the end of this year to be in the upper half of the forecast range of minus 6.1 billion euros to minus 5.6 billion euro.

($1 = 0.9354 euros)

(Reporting by Ilona Wissenbach, Writing by Miranda Murray)