BMW posts revenue at €26B in Q2, up 2.9% YoY

Thursday, 01. August 2019 07:46

BMW AG said on Thursday its revenue in the second quarter of 2019 amounted to €25.71 billion, marking a 2.9% increase from the same period a year ago and slightly higher than market estimates. Earnings per share dropped 29% year-on-year to €2.21 and net profit in the three-month period declined 29% to €1.48 billion. The German carmaker's profit before tax stood at €2.05 billion in the second quarter, down 28.4% compared to a year ago.

The company automotive sales amounted to 647,504 vehicles, marking an 1.5% increase from last year when the group delivered 637,878 vehicles. Sales of Rolls-Royce cars jumped 36.3% to 1,328, deliveries of BMW vehicles were up 2.7% to 556,652 units, while Mini sales fell 5.8% to 89,524 in the second quarter. Meanwhile, motorcycle sales were down 6.8% year-on-year as the segment delivered 54,582 units in the three-month period. The company said it will release 25 fully electric or hybrid models by 2023, two years earlier than previously announced.

"At the six-month stage, we are on course to meet our targets for the full year. We are inspiring customers with new products and once again succeeded in increasing automobile deliveries to a new record level in the first half of the year," chairman of BMW's board Harald Kruger stated in the press release.

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Breaking the News / MD