BMW’s 9 months net profit fell 1.7 times

News

BMW’s 9 months net profit fell 1.7 times

05.11.2020 News

The net profit of the German automaker Bayerische Motoren Werke AG (BMW) for January-September 2020 decreased almost 1.7 times year on year and amounted to 2.11 billion euros.

Adjusted earnings per share were € 3.2 against € 5.37 a year earlier. Annual revenue decreased by 7.1% to last year’s level – to 69.508 billion euros.

In nine months, car deliveries fell by 12.5% to 1.638 million units, of which the BMW brand accounted for 1.427 million cars (down 11.3%). Deliveries of the Mini decreased by 20% to 208.1 thousand cars, and Rolls-Royce – by 28.5%, to 2,651 units.

In the third quarter, the company’s net profit grew by 17.4% to 1.786 billion euros. Adjusted earnings per share amounted to 2.71 euros against 2.31 euros in the third quarter of 2019. Revenue in annual terms decreased by 1.4% to 26.283 billion euros.

In the third quarter, the company increased car deliveries by 8.6% to 675,592 units. Deliveries of the BMW brand increased by 9.8% – to 585.2 thousand cars, Mini – by 1.9%, to 89.26 thousand, Rolls-Royce – decreased by 9.5%, to 1091 units. At the same time in China, which accounts for a third of deliveries, the figure rose by 31% to 230.9 thousand cars.

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