Shares in automaker Porsche fell on Tuesday after the company cut its 2024 outlook, saying various suppliers were affected by a shortage of special aluminium alloys.
Holding company Porsche SE was last down over 3%.
Porsche said that a series of its suppliers were impacted by a "significant supply shortage with regard to special aluminium alloys."
The shortage is linked to flooding in a production facility of a key European aluminium supplier, Porsche explained.
"Despite immediate countermeasures, it is becoming apparent that the impending supply shortage will lead to impairments in production," Porsche said.
Persons:
Porsche
Organizations:
Volkswagen, Porsche, UBS
Locations:
Stuttgart, Swiss, Zrich, Switzerland, London