©Reuters. FILE PHOTO: The logo of German car manufacturer BMW is seen in Brussels, Belgium, June 1, 2023. REUTERS/Yves Herman/FILE PHOTO
(Corrects title and paragraph 1 to say consensus margin missed (not keystrokes), corrects consensus to 9.9% (not 8.9%) in paragraph 2)
(Reuters) – BMW on Thursday reported an annual margin in its core auto segment that was slightly lower than forecast.
The automaker’s margin on earnings before interest and taxes (EBIT) was 9.8% in 2023, versus 9.9% expected in the consensus provided by the company.
The annual result was driven by the full consolidation of its Chinese joint venture BMW (ETR:) Brilliance Automotive (BBA) and improved sales volumes, the group said.