Bayerische Motoren Werke Aktiengesellschaft (BMW:CA) Q2 2026 Earnings Call Prepared Remarks Transcript

SA Transcripts 161.33K Followers Follow Bayerische Motoren Werke Aktiengesellschaft ( BMW:CA ) Q2 2026 Earnings Call July 30, 2026 2:30 AM EDT Company Participants Maximilian Schöberl - Head of Corporate & Governmental Affairs Walter Mertl - Member of Management Board of Finance Milan Nedeljkovic - CEO & Chairman of the Management Board Presentation Maximilian Schöberl Head of Corporate & Governmental Affairs Dear colleagues, ladies and gentlemen, good morning, and welcome to the telephone conference of the BMW Group. Today, we have here Milan Nedeljkovic, Chairman of the Board of Management and our CFO, Walter Mertl. First, Walter will take you through our financial results. Milan will then give you a general business update for the BMW Group. After a short break, we will then have time for our Q&A sessions. And now, Walter, please go ahead. Walter Mertl Member of Management Board of Finance Thank you, Max. Ladies and gentlemen, good morning. Our second quarter results reflect the challenging market conditions. The BMW Group is currently facing, as outlined in our ad-hoc communication on June 16. During the quarter, both Chinese automotive markets and BMW Group retail sales in China continued to decline. At the same time, higher export volumes from China increased competitive intensity in other markets with a particular impact on our business in the Asia Pacific region. Together with the effects of the ongoing conflict in the Middle East, these developments weighed on both our sales and financial performance. While BMW Group deliveries increased by 7.6% in Europe, and 11.9% in the U.S., this was not sufficient to offset the decline in China and Asia Pacific. The group revenues amounted to EUR 31.3 billion in the second quarter and EUR 62.3 billion in the first 6 months. Group earnings before tax totaled EUR 1.7 billion, a decline of 35% compared to the second quarter of last year. Year-to-date through June, Group