MUNICH (dpa-AFX) - German luxury car giant Bayerische Motoren Werke AG or BMW Group (BAMXY.PK, BAMXF.PK, BMW.L) said it has increased its sales volume, revenues and Group earnings in the second quarter of 2014.
For the quarter, Group profit before tax or EBT rose 30.9% to 2.66 billion euros, from last year's 2.03 billion euros. Quarterly Group net profit totaled 1.77 billion euros, up 27.2%, compared with the prior-year figure of 1.39 billion euros.
For the three-month period, the firm clocked 19.905 billion euros of Group revenues, versus last year's 19.55 billion euros, a 1.8% increase year-on-year. Business benefited perceptibly from the growth in sales volume, with exchange rate factors damping the scale of the increase in revenues, according to the company.
The total number of BMW, MINI and Rolls-Royce brand cars delivered to global customers went up by 5.3% in the second quarter to 533,187 units for this three-month period.
Looking ahead, the BMW Group affirmed its sales volume and earnings outlook for the full year 2014, still expecting fiscal 2014 Group profit before tax to increase significantly from last year's 7.91 billion euros, and sales volume to increase from nearly 1.96 million units, amid a challenging market environment.
Copyright RTT News/dpa-AFX