Nov 06, 2024 / 09:15AM GMT
Maximilian Schöberl - Bayerische Motoren Werke AG - Director of Corporate Affairs
Ladies and gentlemen, welcome back to our Q3 call. Our CEO, Oliver Zipse; and our CFO, Walter Mertl, are also back in the room with me. The line will be open shortly for your questions. The operator will first give you some technical instruction. Please go ahead.
Questions and Answers:
Operator(Operator instructions) George Galliers, Goldman Sachs.
George Galliers - Goldman Sach Group, Inc. - Analyst
The first question I had was around the underlying profitability of the business. If we add back some -- in the region of EUR800 million for the IBS provisioning, it would imply an auto margin of around 5%. And I think if we also look at your full year guidance, it would seem to suggest a margin in the range of 5% to 7% for the fourth quarter.
So is this the right way to think about the underlying level of profitability at BMW today? Or are there still factors related to IBS that are suppressing the margin, both in
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