In the second quarter of 2022, the net profit of the German automaker Bayerische Motoren Werke AG decreased by 1.7 times to 3.05 billion euros against 4.79 billion euros a year earlier. The company warned about the deterioration of the situation on world markets.
According to a press release, net profit in April-June decreased by 1.7 times and amounted to 3.05 billion euros against 4.79 billion euros in the same period a year earlier.
Earnings before taxes and interest (EBIT) decreased by 31.5% to 3.43 billion euros, compared to 5.01 billion euros.
BMW’s revenue in the last quarter increased by 22% to 34.77 billion euros.
The company’s automotive division in the second quarter reduced EBIT by 1.7 times compared to last year, to 2.46 billion euros. The margin of the indicator at the end of June was 8.5%.
Vehicle deliveries in the second quarter fell 19.8% to 563,190 from 702,440 a year earlier.
The company reaffirmed its guidance for the current year, which calls for an EBIT margin of 7-9% for the automotive division. Meanwhile, BMW cut its 2022 car shipment forecast and now expects the figure to be slightly below last year’s level, while previously forecasting deliveries to be at last year’s level.
Since the beginning of 2022, the capitalization of BMW has fallen by 12.7% and is about 52.5 billion euros.
