Volkswagen CEO Says Porsche AG IPO Is a Role Model for Other Brands

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 [e-mail]

(END) Dow Jones Newswires

October 28, 2022 10:42 ET (14:42 GMT)

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