Forex headwinds take shine off record BMW deliveries in Q1

According to FRANKFURT, probably four (Reuters) - German luxury carmaker BMW posted a three % down in first-quarter operating profit as unfavourable interchange average impact weighed on earnings, even as the carmaker posted higher margins & discounds at its luxury vehicles business. Group earnings before interest & taxes (EBIT) fell to 2.73 bn euros ($3.27 billion) from 2.82 bn euros in the year-earlier period, it told on Friday. BMW affirmed its guidance of achieving a group ...

Forex impact dampen powerful BMW Q1 results

"The BMW Group was the world's generality lucrative motorcar Corporation in 2017 & Information Systems stepping up the pace another time in 2018. Revenues fell 5.1% to EUR22.7bn in the quarter, dragged drop with currency impact - without that they would have been only 0.7% drop on final year. Due to currency effects, group revenues for the three-month period fell with 5.1% to EUR22,694m (2017: EUR23,926m). Adjusted for currency effects, revenues were at a similar standard to the Former year (-0.7%). Profit before financial result (EBIT) was too affected with currency factors & came in at EUR2,733m (2017: EUR2,821m / -3.1%).

Forex headwinds take shine off record BMW deliveries in 1st quarter

As mentioned in REUTERS/Jonathan ErnstGroup earnings before interest & taxes (EBIT) fell to 2.73 bn euros ($3.27 billion) from 2.82 bn euros in the year-earlier period, however the results were continue welcomed with analysts at Jefferies. Revenues fell 5.1 % to 22.7 bn euros in the quarter, held back with currency effects, BMW said. Excluding those effects, revenues would have been 0.7 % lower. BMW aims for full-year 2018 discounds & revenues at its automotive segment to reach record levels, helping it achieve an operating margin of eight to ten % at the business. In the 1st quarter, the automotive segment posted a margin of 9.7 percent, up from 9.4 % a year earlier.

Collected by :John Locas