BMW Warns Pretax Earnings Will Fall After Lower 2Q Profit
2023年8月3日 - 3:35PM
Dow Jones News
By David Sachs
BMW on Thursday reported a lower net profit with higher group
revenue in the second quarter and said that group earnings before
tax will decrease significantly this year.
The German car company said net profit fell to 2.96 billion
euros ($3.24 billion) from EUR3.05 billion in the second quarter of
last year when it saw one-time effects from the full consolidation
of its Brilliance Auto joint venture.
Revenue was EUR37.22 billion compared with EUR34.77 billion, the
company said. Fully-electric vehicles drove growth, with sales more
than doubling on year in the first half, BMW said.
Earnings before interest and taxes grew to EUR4.38 billion from
EUR3.43 billion.
Looking ahead, BMW guided for group earnings before tax that
will decrease significantly. It said it now expects "solid" vehicle
sales in 2023, up from a "slight" increase over 2022, driven in
part by new model offerings.
The company previously upgraded other parts of its guidance on
Tuesday.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
August 03, 2023 02:20 ET (06:20 GMT)
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