BMW Group: expects pre-tax profit to decline in 2019
(CercleFinance.com) - On Wednesday BMW forecast 2019 pre-tax profit to be well below the previous year's level, which sent its shares down 5.
2% in Frankfurt.
The German car maker said its group pre-tax profit in 2018 was down 8%, at 9.8 billion euros.
In its statement, BMW said it is taking strategic steps to improve its operating performance, citing the "many challenges" currently facing the automotive sector.
The company is focusing on faster processes, leaner structures and therefore greater efficiency.
The Munich-based group aims to implement cost-cutting efficiencies amounting to over 12 billion euros by 2022.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
2% in Frankfurt.
The German car maker said its group pre-tax profit in 2018 was down 8%, at 9.8 billion euros.
In its statement, BMW said it is taking strategic steps to improve its operating performance, citing the "many challenges" currently facing the automotive sector.
The company is focusing on faster processes, leaner structures and therefore greater efficiency.
The Munich-based group aims to implement cost-cutting efficiencies amounting to over 12 billion euros by 2022.
Copyright (c) 2019 CercleFinance.com. All rights reserved.