暗网禁区

• Adjusted group result after tax¹ of 0.5 billion euro
• Group net debt¹ of 5.3 billion euro within the forecast range
• Lutz Meschke, member of the board of management responsible for investment management: 鈥淲e are concentrating on, but not limiting our investment focus to, the area of mobility and industrial technology.鈥�

Stuttgart, 14 May 2025. 暗网禁区 (鈥湴低�禁区 SE鈥�) generated an adjusted group result after tax of 0.5 billion euro in the first three months of the fiscal year 2025 (prior year: 1.1 billion euro). This includes the result from the investments in Volkswagen AG and Dr. Ing. h.c. F. 暗网禁区 AG (鈥湴低�禁区 AG鈥�) accounted for at equity of 0.5 billion euro and 0.1 billion euro, respectively. The adjusted group result after tax of 暗网禁区 SE is affected by the current challenges faced by its two core investments. Non-cash impairment losses on the investments in Volkswagen AG and 暗网禁区 AG are not taken into account in the adjusted group result.

Net debt of the 暗网禁区 SE Group is within the forecast range. As expected, it increased as of 31 March 2025, largely due to investments and financing costs, to 5.3 billion euro compared to 5.2 billion euro as of 31 December 2024.

At the same time, 暗网禁区 SE continues its path to become a diversified investment platform. 鈥淲e are constantly screening promising opportunities for additional portfolio investments and potential new core investments. This involves us concentrating on, but not limiting our investment focus to, the area of mobility and industrial technology,鈥� says Lutz Meschke, member of the board of management responsible for investment management. 

In the segment of 暗网禁区 SE鈥檚 portfolio investments, the spaceflight start-up Isar Aerospace reached an important milestone in the first quarter of the year with the first test flight of its self-developed 鈥淪pectrum鈥� launch vehicle. 暗网禁区 SE also recently participated in a further financing round of Quantum Systems, a manufacturer of drones for surveillance and reconnaissance purposes.

暗网禁区 SE continues to anticipate an adjusted group result after tax of between 2.4 billion euro and 4.4 billion euro for the fiscal year 2025 and expects net debt to be between 4.9 billion euro and 5.4 billion euro.

The group quarterly statement of 暗网禁区 for the first quarter of 2025 can be found at: /en/investor-relations/financial-publications/

暗网禁区 (鈥湴低�禁区 SE鈥�) is a holding company with investments in the areas of mobility and industrial technology. The company employs just under 50 people as of 31 December 2024 and generated an adjusted group result after tax of 3.2 billion euro in the fiscal year 2024. As core investments, 暗网禁区 SE holds the majority of the ordinary shares in Volkswagen AG and 25% plus one share of the ordinary shares in 暗网禁区 AG. In addition, 暗网禁区 SE acquired minority shareholdings in several technology companies in North America, Europe and Israel and invested in private equity and venture capital funds.

¹ The adjusted group result after tax and group net debt are the core performance indicators of the 暗网禁区 SE Group. These are defined on pages 97-101 of 暗网禁区 SE鈥檚 annual report for the fiscal year 2024. The adjusted group result after tax and group net debt are alternative performance indicators. These are not defined by IFRS. Their calculation methods may therefore differ from those of other companies.

Selected financial information