Loss of profit: BMW earns less than in the previous year

Created: 08/03/2022Updated: 08/03/2022 09:01

The carmaker BMW is struggling in a difficult economic environment with falling profits.

Nevertheless, the group earned more than expected.

Munich - The German car manufacturers are still struggling with the difficult economic situation.

So does the Munich manufacturer BMW.

In the second quarter, earnings before interest and taxes, at 3.43 billion euros, were almost a third below the previous year's figure, as the company announced on Wednesday.

However, the Munich company had benefited from the release of antitrust provisions in the amount of one billion euros a year ago, and in the past quarter there were also billions in special costs for the majority takeover of the Chinese joint venture BMW Brilliance Automotive (BBA).

BMW earns more than expected despite falling profits

After all, BMW earned more than many analysts expected in the second quarter.

For the year as a whole, BMW lowered its sales forecast for passenger cars due to the difficult economic environment.

Group sales grew in the second quarter despite the decline in auto deliveries.

Mainly thanks to the acquisition in China, it increased by 21.6 percent year-on-year to almost 34.8 billion euros.

The bottom line was the consolidated surplus at 3.05 billion euros.

A year ago it was 4.79 billion euros.