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Category Archives: financial results
BMW Group Q1 – Record Deliveries of 637,000, up 33%
Improved revenues and earnings of €4.26 per share were driven by a combination of higher sales volume figures across all regions of the world, particularly in China, and higher selling prices. Helpful effects also came from the sharp rise in prices of used vehicles, causing revenues from the sale of previously leased vehicles to rise, above all in the USA where the Biden Administration economy is soaring. Group revenues grew by 15.2% to €26,778 million (2020: €23,252 million; +18.9% adjusted for currency factors). Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, BMW AG, BMW Group Q1, Ken Zino, Oliver Zipse
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Stellantis First Ever Q1 Shows Revenue, Sales Increases
The combined companies shipped 1,477,000 units. The market launch of all-new Opel Mokka began in March 2021 to European consumers, representing a return to the market after being discontinued in 2019. All-new Grand Wagoneer/Wagoneer and next generation Jeep Grand Cherokee production launches remain on track for late Q2 2021 and Q3 2021, respectively. All-new Grand Cherokee L (3-row) production commenced, with commercial launch in late Q2 2021. Continue reading
Ford Posts Q1 Income of $3.3B. Semiconductors Still Difficult
The company anticipates full-year 2021 adjusted EBIT to be between $5.5 billion and $6.5 billion, including an adverse effect of about $2.5 billion from the semiconductor supply issue. Adjusted free cash flow for the full year is projected to be $500 million to $1.5 billion, a large range reflecting the uncertainty in a global economy still reeling from the Covid pandemic. Continue reading
Penske Automotive Posts All Time Record Q1 Results
Penske – as a diversified international transportation services company – is a good leading indicator of the overall health of the transportation sectors with the caveat that it is heavily biased toward luxury brands. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed.com, Ken Zino, Q1 2021 Results, roger penske
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Daimler Raises Financial Targets After Strong Q1 Results
The good operating performance in the first-quarter translated into an EBIT surge to €5,748 million (Q1 2020: €617 million). Adjusted EBIT, reflecting the underlying business, also multiplied to €4,970 million (Q1 2020: €719 million). China, the world’s largest vehicle market, was a key component in the comeback after it successfully fought off the Covid pandemic that Europe and the Americas are still struggling with. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, Covid pandemic, daimler, Ken Zino
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Groupe Renault Posts Flat Results for Q1 2021
Well, during Q1 2021, Group revenues were €10,015 million (-1.1%). At constant exchange rates1, Group revenues would have increased by 4.4%. Automotive excluding AVTOVAZ revenues amounted to €8,566 million, down -0.3%. In addition to the change in inventories, which explains most of the negative impact of the volume (-6.5 points), revenues were adversely affected by a negative currency effect of -4.3 points. Continue reading
Q1 Financial Results of BMW Exceed Market Expectations
Part of the reason, of course, was extremely low expectations for the Munich-based auto conglomerate because of the ongoing Covid 19 pandemic. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, BMW AG Q1 2021, china, Ken Zino
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Stellantis 2021 Annual Meeting Yeas €1 Billion Cash Payout
The distribution will be paid out of the capital repayment reserve that was created by a reduction of the nominal value of the Stellantis common shares in connection with the Faurecia distribution, previously approved by the Extraordinary General Meeting of Shareholders. Continue reading
Stellantis Reports Legacy FCA, PSA 2020 Financial Results
Nonetheless Stellantis was profitable in 2020 despite COVID-19 with 7.1% Automotive adjusted operating margin at €3.4 billion. Its 9.4% H2 Automotive adjusted operating margin was a record. The net result of group share was €2.2 billion with €2.7 billion Automotive free cash flow and a €13.2 billion Automotive net financial position. Continue reading
Posted in economy, financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, carlos tavares, fca, Ken Zino, Stellantis
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Daimler Earns €4.0 billion in 2020
During 2020, net profit improved to €4.0 billion (2019: €2.7 billion). Net profit attributable to the shareholders of Daimler AG amounted to €3.6 billion (2019: €2.4 billion), leading to an increase in earnings per share to €3.39 (2019: €2.22). At the Annual General Meeting on 31March 31, 2021 the Board of Management and the Supervisory Board will propose a dividend of €1.35 per share (2019: €0.90). Total payout will amount to €1.4 billion (2019: €1.0 billion). Continue reading
Groupe Renault Posts 2020 Loss of -€8.5 Billion
The disastrous results take into account an increase of charges related to restructuring costs and impairments of almost a €1 billion. Net income of -€8,046 million (-€660 million in H2) compared to €19 million in 2019. However, a negative Automotive operational free cash flow of -€4,551 million is distressing even with a positive contribution of €1,824 million in H2. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, Ken Zino, Renaulution
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Porsche SE Profit For Fiscal Year 2020 Forecast at €2.6 Billion
The group result after tax of Porsche SE is influenced significantly by its equity result from the capital stake in Volkswagen AG of currently about 31.4%, and thus by the group result after tax of Volkswagen AG. Continue reading
Pandemic Negative Impact on Global Auto Industry Is Permanent. Debate is over How Bad and Who Gets Hurt
LMC says globally the Pandemic recovery is a K-shaped curve. There are winners and losers. Continue reading
General Motors Posts 2020 Earnings of $6.4 Billion. Q4 at $2.8B
GM Financial reported record full-year EBT-adjusted of $2.7 billion. GM North America posted full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4%. GM International lost money at a full-year EBIT-adjusted of $(0.5) billion with China Equity Income of $0.5 billion. Cruise struggled with a full-year EBIT-adjusted loss of $(0.9) billion. Continue reading
Nissan Reports Weak Q4, Full Year 2020 Financial Results
Free cash flow for the automotive business was a negative 391.0 billion yen. Nissan claims it has sufficient liquidity to steer through a challenging business environment. At year-end, cash and cash equivalents for the automotive business totaled 1.9 trillion yen. Automotive net cash was 636.0 billion yen. In addition, the company continues to have access to approximately 2.2 trillion yen in unused committed credit facilities. (Nissan Establishes Carbon Neutral Goal for 2050) Continue reading →