Posted by andy71962 in
BMW,
GM on 05 3rd, 2012 |
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BMW Group reports record figures for first quarter
The BMW Group has had a successful start in the new financial year. “We have recorded the best first-quarter figures ever — for sales volume, revenues and earnings — in the BMW Group’s corporate history”, said Norbert Reithofer, the Chairman of the Board of Management of BMW AG on Thursday in Munich. The main reasons for this positive performance are the strong demand worldwide for the BMW Group’s attractive vehicles, the strength of the BMW, MINI and Rolls-Royce brands as well as improvements in efficiency. First-quarter group revenues rose by 14.1% to € 18,293 million (Q1 2011: € 16,037 million). Profit before financial result (EBIT) rose by 18.8% to € 2,132 million (Q1 2011: € 1,795 million), while profit before tax (EBT) climbed by 21.8% to € 2,076 million (Q1 2011: € 1,705 million). Group net profit increased by 18.1% and reached € 1,349 million (Q1 2011: € 1,142 million). First-quarter EBIT margin of 11.6% for Automotive Segment The number of vehicles sold by the BMW Group during the first quarter 2012 rose by 11.2% to 425,528 units (Q1 2011: 382,758 units), with the BMW, MINI and Rolls-Royce brands all recording new sales volume highs. Revenues and earnings in the Automotive segment increased accordingly: segment revenues rose by 12.4% to € 16,159 million (Q1 2011: € 14,373 million). EBIT increased by 10.0% to reach € 1,878 million (Q1 2011: € 1,708 million), resulting in an EBIT margin for the Automotive segment of 11.6%. Profit before tax increased to € 1,820 million (Q1 2011: € 1,605 million; +13.4%). This strong performance enabled the Automotive segment to generate a free cash flow of € 1,635 million during the first quarter (Q1 2011: € 1,624 million). The BMW brand recorded worldwide growth of 11.0% in the first quarter with sales of 356,548 units (Q1 2011: 321,175 units). Sharp growth was recorded for the new BMW 1 Series, sales of which increased by 20.2% to 54,160 units (Q1 2011: 45,075 units). The new BMW 3 Series Sedan, which has been on the market since February, also got off to a strong start with first-quarter sales up by 13.6%. The total number of BMW 3 Series vehicles handed over to customers during the reporting period increased by 3.9% to 91,189 units (Q1 2011: 87,762 units). Sales...