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BMW Sales Rise as Revenue, Operating Profits Drop
BMW AG reports its first-quarter unit sales climbed as revenue and pretax earnings fell.
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BMW AG reports its first-quarter unit sales climbed as revenue and pretax earnings fell.
Quarterly group revenue declined 5% to €22.7 billion ($27.2 billion). Earnings before interest and taxes declined 3% to €2.7 billion. Net profit rose 1% to €2.3 billion ($2.8 billion).
The company’s automotive unit saw unit sales in January-March climb 3% to a record 604,800 vehicles. But unfavorable exchange rates shrank revenue 3% to €19.3 billion ($23.1 billion). Auto-related EBIT was flat at €1.9 billion ($2.3 billion).
BMW affirms its full-year targets for automotive operations: record high units sales and revenue, pretax profit at least equal to last year and an EBIT margin between 8% and 10%.
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