Porsche announced a 4.4B Euro loss during its last fiscal year. According to Porsche, "The primary factor in the loss reported by Porsche SE was the write-down recognized for the cash settlement options to Volkswagen shares. This impairment loss was recorded at the end of the reporting period and paved the way for the sale of the substantial part of the options to the Emirate of Qatar."
You might remember that Porsche made over $12B the year prior, mostly through speculative options trading, not by selling a couple billion cars.
Porsche's release finished with this odd addition: "Dr. Ing. h.c. F. Porsche AG still shows a double-digit margin in the operating profit. Therefore, Porsche remains the most profitable automobile manufacturer in the world."
So in other words, everything is fine. Carry on.
bimmerjay says:
10:29 AM, 11/12/09
Translation: "Damn, you people sure are willing to pay a lot for our cars. Thanks!!"
estreka says:
07:45 PM, 11/13/09
Building cars is a side job.