BMW Q2 Profit Drops - Quick Facts

German luxury carmaker BMW AG (BMW.L,BAMXF.PK,BAMXY.PK) reported that its profit attributable to shareholders for the second quarter dropped to 2.84 billion euros or 4.30 euros per share from 4.77 billion euros or 7.23 euros per share last year.

Profit before tax for the quarter was 3.93 billion euros down from 5.98 billion euros in the previous year.

But revenues for the quarter grew to 34.77 billion euros from 28.58 billion euros last year.

Owing to the negative impact on production, the BMW Group now anticipates a slight year-on-year decline in Automotive segment deliveries over the full twelve-month period.

The BMW Group also expects higher expenses for raw materials and energy prices in the second half of the year, particularly due to reduced gas supplies, with a corresponding negative impact on earnings in the form of further rising costs of material and manufacturing.

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