Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens West window past, South China Daniel Wu's clue delivery! CTOnews.com August 3 news, BMW Group released the second quarter and first half of 2023 results. In the second quarter of this year, BMW Group's revenue reached 37.219 billion euros (CTOnews.com Note: currently about 293.286 billion yuan), up 7.0% from a year earlier, while net profit was 2.958 billion euros (currently about 23.309 billion yuan), down 2.9% from a year earlier.

In the first half of this year, BMW Group's revenue was 74.072 billion euros (currently about 583.687 billion yuan), up 12.4 percent from a year earlier, while net profit was 6.62 billion euros (currently about 52.166 billion yuan), down 50.0 percent from a year earlier. The company said the drop in profits this year was mainly due to higher tax rates than in previous years as a result of mergers.

In the Chinese market, group delivery rose 16.2% in the second quarter from a year earlier to 198161 vehicles, while sales in the first half rose 3.6% from a year earlier to 393261 vehicles.

It is said that BMW Group's R & D spending rose 15.4 per cent in the first half of the year, focusing on electrification and self-driving, while capital expenditure rose 10.3 per cent. BMW added that higher materials and manufacturing costs also affected results in the first half.

The company expects its car division's profit margin before interest and tax to rise from 8 per cent to 9 per cent and 10.5 per cent, and its delivery will also increase steadily, based on strong order inventories, higher than the previous forecast of only a small increase.

In addition, the company cut its free cash flow forecast to more than 6 billion euros from about 7 billion euros, citing the need to build inventory and increase investment in electrification.

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