Volkswagen CEO Says Porsche AG IPO Is a Role Model for Other Brands
28 Oktober 2022 - 4:57PM
Dow Jones News
By Kim Richters
Volkswagen AG's Chief Executive said Friday that the recent
stock-market listing of sports-car maker Porsche AG serves as a
perfect role model for the group's other brands.
The car maker's CEO Oliver Blume, who took over from Herbert
Diess in September and oversaw the initial public offering of the
iconic Porsche brand in the same month, said in an earnings call
that the company's other brands were preparing to sharpen their
focus and improve profitability.
It hasn't been decided whether another unit would be listed on
the stock market, but the brands were working to crystallize their
individual value, Mr. Blume said. The sharpened profiles should
then lead to an improved value for the entire group, which still
sees a conglomerate discount, he said.
Results would be presented at a capital markets day next year,
the CEO added.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 28, 2022 10:42 ET (14:42 GMT)
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