While Porsche SE reported a sharp decline in net income (-41% yoy) from €2.1bn in Q1 22 to €1.3bn in Q1 23, the outlook looks promising for the HoldCo, which is set to benefit from VW’s upbeat guidance for the FY 2023. Porsche SE reiterated its €4.5-€6.5bn net income target for 2023.
