The BMW Group, which owns the BMW, Mini and Rolls-Royce brands, revealed on Friday that it recorded a profit of €9,551 million until September, which represents a decrease of 41.8% compared to the same period last year.
However, BMW Group sales increased in the first nine months of the year to €112,530 million, which represents a growth of 9.2%, driven by the recovery seen in all segments, especially in the automotive business which grew by 6.7%, the BMW Group highlighted in a statement.
The full integration of the operational activity of BMW Brilliance Automotive (BBA), the Chinese joint venture in which it holds a majority stake, also contributed to the improvement of sales and results.
However, the exchange rate between the Chinese yuan and the US dollar had a negative impact on sales, it adds, emphasizing that in addition, the increase in production costs also had a negative effect on the accumulated result until September.
The BMW Group expects to close the year with an operating profit margin on automotive sales between 9% and 10.5%, according to the statement.
