Bayerische Motoren Werke (XE:BMW)
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6 Months : From Sep 2019 to Mar 2020
By Max Bernhard
BMW AG (BMW.XE) on Wednesday reported a jump in third-quarter earnings, and its finance chief said the car maker's efficiency measures are bearing fruit.
Earnings before interest and taxes rose 33% to 2.29 billion euros ($2.54 billion), while revenue rose 7.9% to EUR26.67 billion, the German luxury car maker said.
"The efficiency-boosting measures we have implemented are bearing fruit," said Chief Financial Officer Nicolas Peter. The company is performing at a high level compared with its rivals and considering challenging conditions in the auto sector, he added.
Net profit rose to EUR1.52 billion from EUR1.36 billion a year earlier.
In the automotive segment, BMW's closely watched EBIT margin rose to 6.6% in the quarter from 4.4% a year ago.
Write to Max Bernhard at firstname.lastname@example.org; @mxbernhard
(END) Dow Jones Newswires
November 06, 2019 02:07 ET (07:07 GMT)
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