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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Aussie Trimmed Mean Rises In Oct
CONSUMER CYCLICALS: BMW (BMW A2/A/NR): 2Q24 Results
Marginal negative on disappointing margins. If BMW is correct on China stabilising it will be a relief to the sector.
- BMW revenue missed consensus by 3%. Strong growth in BEV continues. China remains weak, as per other OEMs.
- Automotive EBIT margin slightly lower than expected at 8.4% (c 8.8%). Group EBIT missed expectations marginally.
- FCF was €1bn, 20% better than consensus. Automotive net financial assets showed seasonal decline to €9bn. Nothing unexpected here.
- FY24 outlook unchanged. It expects China to stabilise in 3Q.
- Webcast 09.15 BST https://bmw-group-h1-media-and-analyst-call-aug-2024.open-exchange.net/registration
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.