Porsche Automobil Holding SE’s debts may have decreased but it still hasn’t gotten to a point where it’s ensured that next year’s 5 billion euro ($6.8 billion) capital increase would leave it free of debt and poised to merge with Volkswagen AG.
At the end of Porsche’s fiscal first half on Jan. 31, its net financial liabilities dropped to 6.1 billion euros. At the end of November, liabilities of about 11.4 billion euros were recorded at the end of November due partly to a 3.9 billion euro disposal gain used to pay down debt. In its half-year report, Porsche said that the capital increase at Porsche SE is scheduled for the first half of 2011.
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