The automaker BMW is recovering from its corona loss. In the third quarter, the group is back in the black. This is mainly due to the good business in China.
Like other manufacturers, the car manufacturer BMW was able to make up ground again in the spring after the corona shock in the spring. Earnings before interest and taxes between July and the end of September were a good 1.92 billion euros and thus almost 16 percent below the previous year’s figure, as the Dax group announced in Munich on Wednesday. BMW thus met the analysts’ expectations.
In the second quarter, BMW had to record a clear minus here. The company had already announced that it had cut fixed costs and cut capital expenditures.
Business in China is doing well
The important core division with the automotive industry recorded an operating return (EBIT) of 6.7 percent, 0.1 percentage points more than a year earlier. Analysts had expected a decline. The bottom line is that BMW earned 1.82 billion euros, a good 17 percent more than a year ago.
The good development in China contributed to the profit increase through the participation in the local joint venture, it said. Total sales fell by 1.4 percent to 26.3 billion euros. BMW confirmed the outlook.