logo
Plus   Neg
Share
Email

BMW Expects Lower FY20 Profit

BMW AG Tuesday update its guidance for the financial year 2020. The company now expects group profit before tax to be significantly lower than in 2019.

The auto giant said the decisive factor behind the adjustment is that the measures to contain the corona virus pandemic are lasting longer in several markets and are thus leading to a broader negative impact than was foreseeable in mid-March.

Delivery volumes in these markets are expected not to return to normal within a few weeks, as previously expected. The highest negative impact is expected in the second quarter.

The company has widened the range for the EBIT margin for the Automotive segment and now expects a range between 0% and 3%.

Return on equity in the Financial Services segment is now forecast to fall moderately year-on-year.

Motorcycles deliveries over the twelve-month period are now expected to be significantly below the previous year's level. The EBIT margin for the segment is forecasted to be within a range of between 3% and 5%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Biotechnology company Seattle Genetics, Inc. (SGEN) and Japanese pharmaceutical company Astellas Pharma Inc. (ALPMY, ALPMY) announced Friday that a phase 3 trial of PADCEV (enfortumab vedotin-ejfv) met its primary endpoint of overall survival compared to chemotherapy. The results were reviewed by... MWE Investments is recalling dual fuel portable generators citing fire risk, according to the U.S. Consumer Product Safety Commission. The recall involves about 7,500 units of Westinghouse WGen5300DFv Dual Fuel Portable Generators and Westinghouse iGen4500DF Dual Fuel Inverter Portable Generators. According to the agency, the dual fuel portable generators can leak fuel. Apple Inc. (AAPL) will launch an online store in India on September 23, offering the tech giant's full range of products and support directly to customers across the country for the first time.
Follow RTT