BMW Group Reports Profit In Q2; H2 Likely To Be More Volatile - Quick Facts

The BMW Group (BMW.L,BAMXF.PK,BAMXY.PK) reported improved profitability in second-quarter despite semiconductor shortage. For the full year 2021, the Group expects business to develop positively overall. In light of a number of prevailing risks, including raw materials prices and a shortage of semiconductors, the company anticipates second six-month period likely to be more volatile. The Group also noted that its targets for the year are to be met with a slightly smaller workforce.

Second-quarter net profit was 4.79 billion euros compared to a loss of 212 million euros, prior year. Earnings per common share was 7.23 euros compared to a loss of 0.35 euros. Profit before tax was 5.98 billion euros, compared to a loss of 300 million euros.

Second-quarter revenues were at 28.58 billion euros, up 43.1%, or 45.2% currency-adjusted, driven by higher sales volumes and better selling prices achieved across both new and pre-owned automobile markets. In the period from April to June 2021, the Group delivered a new record total of 702,441 units to customers worldwide, up 44.7% from a year ago.

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