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MarketScreener Homepage  >  Equities  >  Xetra  >  Porsche Automobil Holding SE    PAH3   DE000PAH0038

PORSCHE AUTOMOBIL HOLDING SE

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Porsche Automobil : Stuttgart prosecutors drop investigation into ex-Volkswagen boss Winterkorn

10/26/2020 | 12:31pm EST
FILE PHOTO: Former Volkswagen CEO Winterkorn leaves after testifying to a parliamentary committee on the carmaker's emissions scandal in Berlin

FRANKFURT (Reuters) - Prosecutors in the German city of Stuttgart have dropped a market manipulation investigation into former Volkswagen chief executive Martin Winterkorn, deferring to a criminal case against him in the city of Braunschweig.

Prosecutors in Stuttgart had looked at whether Winterkorn had manipulated markets by delaying the disclosure of VW's emissions scandal in 2015. VW in September that year admitted using engine control software to cheat U.S. diesel emission tests, battering its share price.

Until his resignation in 2015 in the wake of the scandal, Winterkorn was both CEO of Volkswagen and of the group's main shareholder, Stuttgart-based Porsche SE.

A spokeswoman for the Stuttgart prosecutors said the investigation was dropped because any penalty imposed by the court there would have little significance compared to what could result from the Braunschweig proceedings.

A lawyer for Winterkorn has said his client denies the charges.

Should Winterkorn be acquitted by the Braunschweig court Stuttgart prosecutors may decide to resume their investigation, she said.

(Reporting by Ilona Wissenbach; Writing by Ludwig Burger. Editing by Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE AUTOMOBIL HOLDING SE -1.29% 55.3 Delayed Quote.-16.00%
VOLKSWAGEN AG -1.59% 146.2 Delayed Quote.-15.68%
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Financials
Sales 2020 113 M 134 M 134 M
Net income 2020 2 603 M 3 104 M 3 104 M
Net cash 2020 586 M 699 M 699 M
P/E ratio 2020 5,41x
Yield 2020 3,52%
Capitalization 17 144 M 20 412 M 20 442 M
EV / Sales 2020 147x
EV / Sales 2021 132x
Nbr of Employees 915
Free-Float 50,0%
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Technical analysis trends PORSCHE AUTOMOBIL HOLDING SE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 69,02 €
Last Close Price 55,98 €
Spread / Highest target 60,8%
Spread / Average Target 23,3%
Spread / Lowest Target -10,7%
EPS Revisions
Managers
NameTitle
Hans Dieter Pötsch Chairman-Management Board
Wolfgang Porsche Chairman-Supervisory Board
Ulrich Lehner Member-Supervisory Board
Ferdinand Oliver Porsche Member-Supervisory Board
Hans-Michel Piëch Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
PORSCHE AUTOMOBIL HOLDING SE-16.00%20 412
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GENERAL MOTORS COMPANY24.21%65 067
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