( ABM FN-Dow Jones) BMW increased earnings in the 3rd quarter of this year, while keeping the margin target for the vehicle department. This was revealed on Thursday from the figures from the German vehicle producer.
Net earnings increased for the year from 2.6 to 3.2 billion euros. EBIT increased from 2.9 to 3.7 billion euros, while the EBIT margin in the automobile section enhanced from 7.8 to 8.9 percent.
BMW sales even increased by 35 percent to 37.2 billion euros.
BMW took advantage of greater rates, a beneficial item mix and sales from the Chinese joint endeavor BMW Brilliance Automotive.
Attitude
For the rest of this year, BMW is still targeting an EBIT level for the vehicle department of 7 to 9 percent. The number of cars provided will be somewhat lower than last year’s level, the car manufacturer alerted.
” Overall, we anticipate great momentum to continue up until 2023,” CFO Nicolas Peter stated.
Source: ABM Financial News
From Beursplein 5, editors of ABM Finance News carefully keep an eye on the advancement of the stock exchange, and the Amsterdam stock exchange in specific. The details in this column is not meant as expert financial investment suggestions or as a suggestion to make a specific financial investment.
