MUNICH (dpa-AFX) - BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported third quarter net profit of 1.815 billion euros, up 17.4% from a year ago. Earnings per share was 2.71 euros compared to 2.31 euros.
Third quarter Group revenues was 26.28 billion euros, down 1.4% from a year ago. Automotive segment revenues were 21.96 billion euros, a decline of 4.6%. In the third quarter, the Group delivered a total of 675,592 BMW, MINI and Rolls-Royce brand vehicles to customers around the world, up 8.6%.
BMW Group reaffirmed its outlook for 2020. The Group profit before tax is likely to be significantly lower than in 2019.
The BMW Group continues to accelerate its e-mobility ramp-up. The Group said all four German automotive plants will be manufacturing all-electric vehicles in the foreseeable future. The Group is also ramping up the production of electric drivetrain components. From 2022, the BMW Group's plant Dingolfing will have the capacity to manufacture electric motors for up to 500,000 electrified vehicles per year. Battery modules and high-voltage batteries will be manufactured at the Group's Leipzig and Regensburg plants to supply the growing number of electrified vehicles.
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