BMW: Q2 earnings fall

(CercleFinance.com) - BMW has posted Q2 net profit that is down 6.
1% at 2.08 billion euros, with operating profit that is down 6.3% at 2.75 billion euros, weighed on by a significant increase in research and development expenditure.

The German upmarket car manufacturer saw its revenues fall by 2.9% to 25 billion euros (+0.1% excluding FX factors) for volumes of deliveries that were almost stable (+0.7%) at 637,878 units.

BMW has reinstated its annual targets of a slight increase in automotive revenues and deliveries, taxable profit at the same level last year and an automotive operating margin that remains in its target range of 8% to 10%.


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