Brilliance China Automotive Holdings Logs Lower Profit in H1, Revenue Exceeds Estimates

MT Newswires Live08-23

Brilliance China Automotive Holdings (HKG:1114) recorded a profit attributable to equity holders of 1.47 billion yuan for the six months ended June 30, lower than the 3.74 billion yuan logged for the same period last year, a Thursday filing with the Hong Kong Exchange said.

Earnings per share for the reporting period stood at 0.29201 yuan, compared to the 0.74211 yuan per share recorded for the corresponding period in 2023.

The BMW vehicles' manufacturer and seller's revenue for the first half of this year came in at 518.0 million yuan, 2% higher than the 507.6 million yuan logged for the year-ago period. Analysts polled by Visible Alpha were expecting the revenue to be 457.08 million yuan.

The company attributed the increase in revenue to a stable increase in orders from electric and hybrid motor vehicle manufacturers.

The company's shares were down over 6% on Friday's close.

Price (HKD): $3.53, Change: $-0.24, Percent Change: -6.37%

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