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Earnings before interest and tax rose 18.2 percent year-on-year to 4.35 billion euros, the DAX company announced on Friday, despite the high proportion of electric cars that are not yet as profitable. Experts expected slightly lower operating profit.
The most noticeable operating margin in the core auto manufacturing business rose almost one percentage point to 9.8 percent. Thanks to increased deliveries, Bavaria increased its sales by 3.4 percent to 38.5 billion euros, despite the negative effects of the strengthening euro.
However, the end result was higher taxes and the negative effects of interest rate hedging. The surplus fell by 7.7 percent to 2.93 billion euros.
The management around boss Oliver Zipse confirmed the annual forecast. Rivals Volkswagen and Mercedes-Benz have recently been forced to step back their profit expectations somewhat due to the weak industry situation and supply chain issues. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
