Profit of BMW Slumps, Adidas Grows, Samsung Surges
10 Articles
10 Articles
The manufacturer BMW, owner of Mini, Rolls-Royce and BMW Motorrad, has suffered the collapse of its profits in the first half of the year after falling to 28.5%, up to 2.872 million euros. A figure that the company attributes directly to the great impact of the Chinese market, where sales fell by 20%, as reported by the company this Thursday during the presentation of its financial results. After a solid start of the year, the conflict in the Mi…
Profit of BMW Slumps, Adidas Grows, Samsung Surges
The crisis in the Chinese car market is taking a toll on the balance sheet of automaker BMW. In the past quarter, the Munich-based company’s net profit plummeted by 34.9 percent to €1.2 billion, according to figures released on Thursday. Revenue simultaneously shrank by 7.9 percent to just under €31.3 billion. BMW’s crucial profit margin in its automotive business fell to 2.3 percent. This revenue decline was thus steeper than analysts surveyed …
The AEX got off to a higher start on Thursday, helped by Shell and ING. DSM played a leading role following enthusiasm over the figures.
Kion presents strong balance sheet +++ Dax groups BMW and Adidas open their books for the second quarter +++ Weak profit outlook and Apple balance on Qualcomm +++ The newsblog.
BMW is slipping deeper into the crisis: in the second quarter, sales and profit are dramatically falling, while China's most important sales market continues to weaken. While new CEO Nedeljkovic warns of gloomy years, BMW is relying on a tough austerity policy and hopes for the new generation of electric vehicles.
The figures for the second quarter show why the Munich car manufacturer wants to cut thousands of jobs. The new boss Milan Nedeljkovic has a lot of work ahead of himBMW is breaking off the profits. In the second quarter, the Group earned only 1.2 billion euros after taxes – 35 percent less than in the previous year's period, as he reported. Sales also fell significantly – from 34 billion to 31 billion euros. The figures come only one day after a…
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