BMW : Weak Q3 Auto results below expectations; pace of recovery will be key
>Q3 even weaker than feared on supply chain/China - BMW reported Q3 results that came below expectations (Autos EBIT -16% below consensus).Q3 revenues came in at € 32.4bn, -16% y-o-y, -12% q-o-q, slightly below expectations (company-compiled css at € 33.3bn, ODDO BHF€ 32.8bn) with adj. EBIT at € 1.7bn, -61% y-o-y, -56% q-o-q implying a margin of 5.2%, -600 bps y-o-y, below estimates (css at 5.0%, ODDO BHF 5.6%).Looking at individual business units, Autos ...Bayerische Motoren Werke is a holding company, engaged in the development, manufacture and sale of cars and motorcycles. Co. owns three brands: BMW, MINI and Rolls-Royce. Co.'s BMW automobile range encompasses the 1 Series, including coupe and convertible models; the 3 Series, including sedan, touring, coupe and convertible models; the 5 Series, including sedan and touring models; the 6 Series, including coupe or convertible; the 7 Series large sedan; the Z4 roadster and coupe; the sports utility vehicles, X3, X5 and X6 and M models. Co. also provides cars under the MINI brand and motorcycles under the BMW brand. The Rolls-Royce brand provides three cars, Phantom, Coupe and Ghost.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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