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BMW sees earnings margin drop amid China JV consolidation
2022.08.03 09:05
A BMW iX Flow with color-shifting material is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 6, 2022. REUTERS/Steve Marcus
BERLIN (Reuters) – BMW saw a drop in its automotive margin on earnings before interest and taxes to 8.2% from 15.8% last year as the consolidation of its Chinese joint venture BMW Brilliance dampened earnings, it said on Wednesday.
The carmaker reported a group net profit of 3.05 billion euros ($3.10 billion) from 4.8 billion euros last year.
It confirmed its outlook of 7-9% for the automotive segment but said it expects full-year deliveries to be slightly below last year.
($1 = 0.9823 euros)
