BMW presented solid figures for the third quarter. Sales increased by 35 percent to 37.2 billion euros. The bottom line is that the DAX group earned a surplus of 3.18 billion euros, after 2.58 billion a year ago. Those investors who had previously hoped for a higher outlook have been disappointed.
The sales forecast, which was slightly reduced in the summer, was confirmed by BMW. For the whole year, Munich expects car sales “slightly below” the previous year’s level of 2.5 million cars.
Operating margin in the automotive segment, which is particularly popular with investors, reached 8.9 percent after 7.8 percent a year ago. By 2022, 7 to 9 percent are still in the program.
JPMorgan analyst Jose Asumendi spoke of “health consequences”.
Overall, the automaker performed as expected and confirmed its full-year targets, RBC’s Tom Narayan said. However, BMW also “has a bad reputation for being conservative” with its goals, Narayan said. Its share price is 102 euros.
Goldman Sachs was more cautious. The figures were generally in line with expectations, wrote analyst George Galliers. However, adjusted operating margins in the auto business continued to deteriorate, raising questions about costs. Its target price is still 80 euros.