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BMW Group reports Q3-2018 numbers

Wednesday, November 7, 2018   (0 Comments)
Posted by: Wes Fleming #87301

BMW Group released their third quarter numbers today. Overall group profit (before tax) for Q3-2018 fell to 1.85 billion euros (US$2.1 billion) from 2.5 billion ($2.9 billion) in Q3-2017, a 26.7% drop.

BMW's automotive segment delivered 0.3 percent more vehicles than Q3-2017; motorcycle deliveries rose 1.0 percent for the same period.  In Q3-2018, BMW delivered 39,429 units, compared to 39,818 in Q3-2017.

For both segments, their earnings before interest and tax (EBIT) margin fell - 4.2 percent for the automotive segment and 3.5 percent for motorcycles.

Production volume for motorcycles plunged to 37,172 from 41,443, a fall of 10.3 percent.  Profit (before tax) for the quarter in the motorcycle division fell 41.5 percent, from 53 million euros ($60.7 million) in Q3-2017 to 31 million euros ($35.5 million) in this quarter; this was less of a drop than in the automotive segment and contributed to BMW's overall plunge of 26.3 percent for Q3.

For the year through the end of the third quarter, BMW motorcycle deliveries are down just 0.8 percent, falling from 127,818 in 2017 to 126,793 so far this year.  Production volume saw a more significant drop, going from 146,995 motorcycles produced Q1-Q3 in 2017 to 125,180 for the same period in 2018 (-14.8 percent).

Overall revenue for the motorcycle segment fell 9.3 percent for the year to date as compared to 2017, falling from 1.8 billion euros ($2.1 billion) to 1.7 million euros ($1.9 billion). Profit before tax for the year to date was 205 million euros ($235.4 million), down 27 percent from last year's 281 million ($332.6 million).

BMW Group's net profit through the end of Q3-2018 was 5.8 billion euros ($6.6 billion), a decline of 8.7 percent from 6,337 million euros in the same period in 2017.

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