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    VOW3   DE0007664039

VOLKSWAGEN AG

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Volkswagen : Porsche must pay 40 million eur for breach of duty on tax filings - prosecutor

07/21/2021 | 08:41am EDT
FILE PHOTO: A logo of Porsche is seen outside a Porsche car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels

FRANKFURT (Reuters) - German carmaker Porsche must pay a fine of 40 million euros ($47 million) for breach of duty relating to its tax filings, German prosecutors said on Wednesday.

The company was paying that sum to the state of Baden Wuerttemberg and not taking any legal action against the fine, the prosecutors added.

"Therefore the proceedings against Porsche have been legally completed," they said.

The case related to filings between 2009 and 2016.

($1 = 0.8494 euros)

(Reporting by Ilona Wissenbach; Writing by Madeline Chambers; Editing by Maria Sheahan)


ę Reuters 2021
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Financials
Sales 2021 253 B 300 B 300 B
Net income 2021 14 831 M 17 586 M 17 586 M
Net cash 2021 34 390 M 40 776 M 40 776 M
P/E ratio 2021 7,02x
Yield 2021 3,59%
Capitalization 127 B 150 B 150 B
EV / Sales 2021 0,37x
EV / Sales 2022 0,32x
Nbr of Employees 632 825
Free-Float 56,8%
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Mean consensus BUY
Number of Analysts 25
Last Close Price 205,10 €
Average target price 279,86 €
Spread / Average Target 36,4%
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Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter P÷tsch Chairman-Supervisory Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
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