BMW CEO vows to overhaul business after disappointing first half
32 Articles
32 Articles
BMW has reaffirmed its projections for the year, despite the continuous impact on sales and profits. Exclusive material for subscribers. To have full access, access the link of the material and register.
German luxury carmaker BMW's pre-tax profit fell 35 percent to 1.7 billion euros (41.1 billion crowns) in the second quarter. The results were negatively affected by a sharp drop in sales in China and a drop in consumer confidence in the Middle East. Revenue fell 7.9 percent to 31.3 billion euros, the company announced in a press release on Thursday.
Bmw's profits are falling. In the second quarter, the group made a profit net of taxes of only 1.2 billion euros, 35% less than in the same period of the previous year, as reported. (ANSA)
BMW reports a significant break in profits. Not only the Munich carmakers, but also the other German car manufacturers, have opened their books in the past few days. It turns out that the crisis is deep.
According to a press release, the group's net income reached €1.2 billion between April and June, down 34.9% year-on-year, due to increased competition "in the Asia-Pacific region," particularly in China, and "the consequences of the ongoing conflict in the Middle East." This figure is, however, slightly higher than the consensus forecast compiled by analysts on the Factset platform, who had predicted a net profit of €1.134 billion. In this co…
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