MUNICH (dpa-AFX) - German automaker BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported Wednesday lower profit in its third quarter, as revenues were hurt by weak vehicle deliveries across the company's portfolio. Further, the company trimmed fiscal 2026 outlook for Automotive segment EBIT margin due to expected one-time items in the fourth quarter.
Regarding the workforce restructuring program, the company said the reduction in management functions will be implemented faster than announced.
The third-quarter net profit declined 14.7 percent to €1.448 billion from €1.697 billion in the prior-year quarter. Earnings per share decreased 10.2 percent to €2.46 from €2.74 a year ago.
Group earnings before tax or EBT totaled €2.083 billion in the third quarter, down 10.6 percent year-over-year. Profit before the financial result or EBIT fell 29.7 percent to €1.589 billion.
The EBIT margin in the Automotive Segment contracted 1.8 percentage points from the prior-year quarter to 3.4 percent.
Third-quarter revenues declined 5.8 percent to €30.452 billion from €32.314 billion a year ago. Adjusted for currency translation effects, the revenue decline was 7.7 percent.
Vehicle deliveries totaled 551,075 units in the third quarter, down 6.3 percent compared with the prior-year quarter. Growth in Europe of 2.6 percent and the United States of 2.5 percent only partially offset persistent weakness in the Chinese market.
The BMW brand delivered 479,294 units, down 6.8 percent year-over-year. MINI brand deliveries fell 2.4 percent to 70,712 units. Rolls-Royce deliveries declined 18.0 percent to 1,069 units, while motorcycle deliveries decreased 12.5 percent to 46,605 units.
Looking ahead for fiscal 2026, BMW Group now expects Automotive segment EBIT margin in the corridor of negative 0.5 percent to positive 0.5 percent, compared to previously expected margin of 1 percent to 3 percent.
The company continues to expect Automotive segment's operative EBIT margin before consideration of restructuring measures above 2.0 percent.
The outlook on a reported basis has been adjusted due to non-operational effects in the fourth quarter.
The premium vehicle manufacturer said it has decided to further expand and intensify portfolio and structural measures, which will lead to a non-operational earnings impact in the Automotive segment in the fourth quarter.
Car deliveries are expected to be moderately below the prior year.
In the Motorcycles segment, deliveries are now expected to be slightly below last year's level, compared to previous view of on par with last year's level. The EBIT margin is expected to be in a range of 4.0-6.0 percent, and RoCE in a range of 10-14 percent.
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