BMW: confirms full-year forecasts
(CercleFinance.com) - In all, the company delivered 1,213,276 vehicles to customers of all BMW Group brands between January and June, achieving the same high level as the previous year (2023: -0.
1%; Q2: 618,743 units; -1.3%).
The BMW, MINI and Rolls-Royce brands recorded a 24.6% increase in BEV deliveries to 190,614 all-electric vehicles.
Automotive Division revenues amounted to E63,009m in H1 2024 (2023: E62,898m; +0.2%; adjusted for currency effects: +1.8%; Q2: E32,070m; +1.4%; adjusted for currency effects: +2.1%).
Group earnings before tax (EBT) for the first six months amounted to E8,023m (2023: E9,351m; -14.2%; Q2: E3,861m; -8.6%). During this period, BMW Group posted net income of E5,656m (2023: E6,620m; -14.6%; Q2: E2,705m; -8.6%).
The Group's pre-tax profit is expected to decline slightly over FY 2024, due to higher manufacturing and fixed costs than in the previous year. In the automotive sector, the EBIT margin is expected to be in the 8%-10% range for the year as a whole, the group says.
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1%; Q2: 618,743 units; -1.3%).
The BMW, MINI and Rolls-Royce brands recorded a 24.6% increase in BEV deliveries to 190,614 all-electric vehicles.
Automotive Division revenues amounted to E63,009m in H1 2024 (2023: E62,898m; +0.2%; adjusted for currency effects: +1.8%; Q2: E32,070m; +1.4%; adjusted for currency effects: +2.1%).
Group earnings before tax (EBT) for the first six months amounted to E8,023m (2023: E9,351m; -14.2%; Q2: E3,861m; -8.6%). During this period, BMW Group posted net income of E5,656m (2023: E6,620m; -14.6%; Q2: E2,705m; -8.6%).
The Group's pre-tax profit is expected to decline slightly over FY 2024, due to higher manufacturing and fixed costs than in the previous year. In the automotive sector, the EBIT margin is expected to be in the 8%-10% range for the year as a whole, the group says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.