BMW Group makes provision for EU antitrust proceedings through expected to exceed 1 trillion euros

5.4.2019 Munich. The BMW Group is today the EU Commission’s statement of objections in an ongoing antitrust case informed. The EU Commission is investigating whether the German car manufacturer in the technical working groups in the development and introduction of technologies to reduce emissions in a competitive way limited have worked together.

The BMW Group is set against the accusations of the European Commission-if necessary – with all legal means to fight back.

From the statement of objections, the BMW Group derives that the EU Commission wants to adopt in all probability be a fine significant amount. This trigger, in accordance with the International Financial Reporting Standards, a commitment to the formation of a Commission.

Therefore, the BMW Group wants to form after examination of the objections to a Commission estimated at over EUR 1 trillion. This effect will put a strain on the result in the first quarter of 2019. The examination of the objections and the inspection of the files will take some time. Therefore, the financial impact can be at the present time to judge.

The EBIT margin of the Automotive segment is expected for the current fiscal year is now expected to be 1-1,5 percentage points below the previous corridor of 6-8%.

For the group’s earnings before taxes in the current financial year, the BMW Group continues to forecast a significant decline compared to the previous year.

BMW Welt and BMW Group’s Corporate Headquarters (photo: BMW AG)

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