BMW AG reported unexpected sales growth in all significant regions of the world, in particular in China, and all brands during Q1 2021.
In addition, positive price and mix effects, as well as high demand for used cars, also helped key financial performance figures of BMW AG, which exceeded 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.
Based on preliminary figures for the first quarter 2021, Automotive segment EBIT is €2,236 million (Q1 2020: €229 million), Financial Services segment EBT is €787 million (Q1 2020: €484 million) and Group EBT is €3,757 million (Q1 2020: €798 million). The Automotive segment EBIT margin is 9.8% (Q1 2020: 1.3%).
“The positive operating performance and the continued focus on working capital management lead to the free cash flow of €2,522 million (Q1 2020: -2,218 million) in the Automotive segment, also exceeding market expectations.(BMW Says It’s Solvent, Marginally Profitable During 2020, BMW Largest US Automotive Exporter for 7th Consecutive Year, Cash Crunch? BMW and Daimler to Sell PARK NOW Joint Venture to EasyPark Group, All-Electric BMW i4 Shown)
The definition of the above-mentioned financial indicators is provided on pages 327 and 328 of the BMW Group Report 2020. Further details will be published in the Quarterly Statement for the period to 31 March 2021 on 7 May 2021,” BMW said.
With its four brands – BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.