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Net profit in January-March fell to €561 million compared to €2.26 billion in January-March 2018. In terms of ordinary and preferred shares, profits fell to €0.85 from €3.44 a year earlier.
Profit before tax and interest payments decreased by 78% to €589 million against €2.71 billion in the first quarter of 2018. Revenues decreased by 0.9% to €22.46 billion against €22.67 billion a year earlier.
The balance sheet shows losses of €1.4 billion. The company has reserved this money in connection with investigation into the case of possible participation in a conspiracy to limit the development and introduction of technologies to reduce emissions of harmful substances. The German automakers BMW, Daimler and Volkswagen are in the spotlight of the European Commission’s investigation.
The EBIT margin of the BMW car division fell to minus 1.6% from 9.7%. The division suffered a loss of €310 million against a profit of €1.88 billion a year earlier.
Sales of cars under the brands BMW, Mini and Rolls-Royce increased in January-March by 0.1% to 605,333 units against 604,629 units in the same period last year. At the same time, sales of Rolls-Royce increased by 49.4% to 1206 units.
Motorcycle sales increased by 7.7% to 38,606 units versus 35,858 units a year earlier.
Car sales in Europe grew by 0.1% to 270,950 units, including in Britain by 1.8%. Sales in Asia increased by 2.1% to 217,200 units, including in China by 10.2%.
Sales in North and South America decreased by 2% to 104,215 units, including in the USA by 1.7% to 83,158 units.
BMW shares are getting cheaper by 1.2% on Tuesday. Since the beginning of the year, the company's capitalization has grown by 3.8% to €49.19 billion.
source: bloomberg.com
Profit before tax and interest payments decreased by 78% to €589 million against €2.71 billion in the first quarter of 2018. Revenues decreased by 0.9% to €22.46 billion against €22.67 billion a year earlier.
The balance sheet shows losses of €1.4 billion. The company has reserved this money in connection with investigation into the case of possible participation in a conspiracy to limit the development and introduction of technologies to reduce emissions of harmful substances. The German automakers BMW, Daimler and Volkswagen are in the spotlight of the European Commission’s investigation.
The EBIT margin of the BMW car division fell to minus 1.6% from 9.7%. The division suffered a loss of €310 million against a profit of €1.88 billion a year earlier.
Sales of cars under the brands BMW, Mini and Rolls-Royce increased in January-March by 0.1% to 605,333 units against 604,629 units in the same period last year. At the same time, sales of Rolls-Royce increased by 49.4% to 1206 units.
Motorcycle sales increased by 7.7% to 38,606 units versus 35,858 units a year earlier.
Car sales in Europe grew by 0.1% to 270,950 units, including in Britain by 1.8%. Sales in Asia increased by 2.1% to 217,200 units, including in China by 10.2%.
Sales in North and South America decreased by 2% to 104,215 units, including in the USA by 1.7% to 83,158 units.
BMW shares are getting cheaper by 1.2% on Tuesday. Since the beginning of the year, the company's capitalization has grown by 3.8% to €49.19 billion.
source: bloomberg.com
