Porsche SE, the largest shareholder of Volkswagen, announced its intentions to expand investments and diversify its holdings. This decision followed a 20-billion-euro after-tax loss due to impairments on its stake in Europe's leading carmaker. The board recommended a reduced dividend of 1.91 euros per preference share, citing decreased dividend income from Volkswagen, which experienced a 15% decline in operating profits last year.

Lutz Meschke, a board member overseeing investment management at Porsche SE, stated that they are actively exploring new investment prospects and have the financial capability for significant investments. The company, owned by the Porsche and Piech families, emphasized the need for efficient execution of cost-cutting programs at Volkswagen and Porsche to enhance profitability.

Despite reports suggesting a potential sale of Volkswagen shares by the Porsche and Piech families to raise funds for other ventures, Porsche SE clarified that there were no concrete plans to do so at present.