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The BMW automaker is recovering from its loss of the crown. In the third quarter the group gets the lead. This is mainly due to the excellent business in China.
Like other manufacturers, the automaker BMW was able to catch up in the spring after the crown shock in the spring. The profit before interest and taxes between July and the end of September was a good 1.92 billion euros and therefore almost 16% lower than the previous year’s value, as announced Wednesday in Munich by the Dax group . BMW has thus met analysts’ expectations.
In the second quarter, BMW had to experience a distinct disadvantage here. The company had already announced that it had cut fixed costs and capital expenditures.
Business in China is doing well
The important core division with the automotive industry reported an operating return (EBIT) of 6.7%, 0.1 percentage points higher than the previous year. Analysts had expected a decline. The bottom line is that BMW earned 1.82 billion euros, a good 17 percent more than a year ago.
The good development in China contributed to increased profits through participation in the local joint venture, he said. Total sales fell 1.4 percent to 26.3 billion euros. BMW confirmed the prospects.
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