Posts Tagged ‘BMW Group’
The BMW Group achieved the best quarter in history
BMW Group has had a great start in the new financial year. We generated record earnings and sold more cars than ever in the first quarter.
The strong growth in sales volume and the strict implementation of the Strategy Group’s Number ONE was key factors behind our successful performance, Norbert Reithofer, Chairman of the Board of BMW AG, on Wednesday in Munich.
The brands BMW, MINI and Rolls-Royce achieved new record sales volume in the first three months of the year. Other factors that contributed to the large increase in profits in the automotive segment, including a combination of the high-value sales, improved efficiency and attractive sales prices. The first-quarter earnings increased 34.7% with an amount of EUR 14.373 million (2010: 10.672 million Euros).
The EBIT increased to Euro 1.708 million (2010: 291 million Euros) and achieved an EBIT margin of 11.9% in the premium car segment. Earnings before taxes rose to EUR 1.605 million (2010: 220 million Euros). Free cash flow in the automobile segment increased to 1.624 million Euros (2010: negative cash flow of 306 million Euros).