The BMW group boosted third quarter profit before financial result (EBIT) 17.1% year on year to EUR2,256m thanks to a higher-value model mix.
Group profit before tax (EBT) rose 1.2% to EUR2,013m as revenues increased 4.5% on the back of higher sales volume to EUR19,600m. All three are new highs to date for a third quarter.
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Group net profit, however, fell 1.2% to EUR1,314m due to higher income tax. Operating margin (EBIT) was 11.5% compared with 10.3% a year ago.
Q3 vehicle sales volume rose 5.8% to a new record 509,669 units.
Nine-month revenues grew 3.4% to EUR57,740m, EBIT increased 15.2% to EUR6,949m and profit before tax 13.5% to EUR6,839m, all nine-month records.
Group net profit improved 12.7% to EUR4,547m and vehicle sales rose 6.5% to a record 1,529,880 units. Operating margin (EBIT) was 12.0% (10.8%).
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By GlobalData“We continued to perform well in both the third quarter and over nine-month period within an increasingly challenging environment”, said chairman Norbert Reithofer.
Based on the nine month results, the group is aiming to achieve new records in terms of sales volume (2013: 1,963,798 units) and profit before tax (2013: EUR7,913m).
“We remain on course to achieve a significant increase in group profit before tax for the full year and to deliver more than 2m vehicles during the 12-month period”, added Reithofer.
