Car manufacturers: BMW's profit plummets by more than a third - now an extremely weak final quarter threatens
China continues to have a massive impact on BMW's results. The Group is countering this with a restructuring program. An even larger drop in profits is expected in the fourth quarter.
BMW's profit has plummeted in the first nine months of the year, with earnings before interest and taxes (Ebit) at 5.2 billion euros, a 35.2% drop from the same period last year. The company's net profit was 4.3 billion euros, down 24% from the previous year, with revenue at 92.7 billion euros, a 7.3% decrease. BMW's automotive business was particularly affected, with Ebit down 44% to 2.9 billion euros, and the Ebit margin in the autos segment at 3.5%, down from 5.9% last year.
The company has issued a second profit warning this year, expecting an auto margin of -0.5 to 0.5% for the full year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
