The car manufacturer BMW has in the third quarter as after the Forecast reduction in October expected cut off. Earnings before interest and taxes increased by a third to 2.26 billion euros compared to the very weak same period last year, as the DAX group announced on Wednesday in Munich. A year earlier there was an extradition ban Problems with a braking systemÂ
the numbers are significantly impacted.
The bottom line is that BMW earned 1.70 billion euros, more than three times as much as the year before. Because of the problems in China CEO Oliver Zipse (61) confirmed the annual forecast that was lowered in October.
As a result, the operating margin in the automobile division, which was widely noticed on the financial market, climbed this time by almost 3 percentage points to 5.2 percent. Analysts had expected a somewhat weaker value here. The margin would be the same without increased import duties USA and the EU were 1.75 percentage points higher, BMW said.
According to CFO Walter Mertl, BMW benefited from the fact that the peak in development spending has been passed. The company also expects declining costs and lower research and development services and investments in the fourth quarter. BMW will bring it in a few weeks the first model in the new class to bring the electric iX3 onto the marketÂ
, for which a separate factory was built in Hungary. The feedback on the vehicle was extremely positive, said BMW boss Zipse. Incoming orders in Europe are significantly above expectations.
Sales remain below the previous year’s figure
BMW continues to struggle with a difficult market in China, where there is a fierce price war. The weak dollar also cost money. Due to the difficulties, sales overall remained slightly below the previous year’s figure at 32.3 billion euros, although BMW, as already known, increased car deliveries by almost 9 percent to 588,140 cars.