BMW’s efficiency measures see profit rises
BMW AG posted a third-quarter earnings leap on Wednesday, and its finance chief said the productivity measures taken by the car maker were bearing fruit.
Earnings before interest and taxes grew 33% to € 2.29 billion ($2.54 billion), while sales increased 7.9% to € 26.67 billion, the German luxury car maker stated.
“The steps we have adopted to improve productivity are bearing fruit,” said Nicolas Peter, Chief Financial Officer. Compared to its competitors, the business is operating at a high level, he said, despite challenging conditions in the automotive sector.
Net profit rose from EUR 1,36 billion a year earlier to EUR 1,52 billion.
BMW’s closely watched EBIT margin rose to 6.6% from 4.4% a year earlier in the automobile market.