BMW: third-quarter pretax profit up, maintains outlook
(CercleFinance.com) - BMW, the world's second largest premium carmaker, reported a 23.
4% rise in third-quarter pre-tax profit to 2.25 billion euros, although falling short of the consensus.
At its core automotive division, earnings before tax rose by 52.8% to 1.53 billion euros as the German auto giant set a new record for third-quarter deliveries.
In all, 613,361 units of the group's BMW, MINI and Rolls-Royce brands were delivered from July to September, up 3.6%.
"At the nine-month stage, we are well on our way to achieving our targets for the year as a whole," said Oliver Zipse, chairman of BMW's management board.
The Munich-based company confirmed its outlook for 2019.
While the group is targeting a slight increase in the number of deliveries to customers in 2019, it expects group profit before tax to be significantly below the previous year's level.
BMW shares were trading down 1% at 72 euros, making it one of the biggest underperformers amongst German blue chips.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
4% rise in third-quarter pre-tax profit to 2.25 billion euros, although falling short of the consensus.
At its core automotive division, earnings before tax rose by 52.8% to 1.53 billion euros as the German auto giant set a new record for third-quarter deliveries.
In all, 613,361 units of the group's BMW, MINI and Rolls-Royce brands were delivered from July to September, up 3.6%.
"At the nine-month stage, we are well on our way to achieving our targets for the year as a whole," said Oliver Zipse, chairman of BMW's management board.
The Munich-based company confirmed its outlook for 2019.
While the group is targeting a slight increase in the number of deliveries to customers in 2019, it expects group profit before tax to be significantly below the previous year's level.
BMW shares were trading down 1% at 72 euros, making it one of the biggest underperformers amongst German blue chips.
Copyright (c) 2019 CercleFinance.com. All rights reserved.