BMW Group achieves record first-quarter earnings

Posted on 30. Nov, 1999 by in BMW Canada

04.05.2011
BMW Group achieves record first-quarter earnings

Profit before financial outcome rises to euro 1,902 million
Profit before taxes adult to euro 1,812 million
Automobiles shred reports EBIT of euro 1,708 million
EBIT domain of 11.9% for a Automotive segment
BMW Group reaffirms targets for stream year

Munich. The BMW Group continues to perform good and has generated a new record for first-quarter earnings. Group revenues increasing by 28.9% to euro 16,037 million (2010: euro 12,443 million). The first-quarter distinction before financial outcome (EBIT) rose neatly to euro 1,902 million (2010: euro 449 million) while a distinction before taxation (EBT) climbed to euro 1,812 million (2010: euro 508 million). Group net distinction for a entertain softened to euro 1,212 million (2010: euro 324 million). The sum array of BMW, MINI and Rolls-Royce code cars sole increasing by 21.3% to 382,758 units (2010: 315,614 units), a best first-quarter sales volume opening in a Groups history.

The BMW Group has done an glorious start to a new financial year. We have generated record gain and sole some-more cars in a initial entertain than ever before. Strong sales volume expansion and severe doing of a Groups Strategy Number ONE have been vital factors behind a successful performance, settled Norbert Reithofer, Chairman of a Board of Management of BMW AG, on Wednesday in Munich.

Record sales volume turn of good over 1.5 million vehicles targeted

The Groups full-year targets sojourn unchanged: The BMW Group is good on a approach towards achieving new sales volume and gain annals for a full year. We are aiming for a record sales volume of good over 1.5 million vehicles as good as new full-year sales volume annals for any of a reward brands BMW, MINI and Rolls-Royce, continued Reithofer. The BMW Groups aim of an EBIT domain of some-more than 8% for a automotive shred stays in place. All of these targets are formed on a arrogance that mercantile and domestic conditions sojourn fast and that a tellurian economy continues to grow.

Sharp burst in first-quarter gain for a automotive segment

The BMW, MINI and Rolls-Royce brands all achieved new sales volume annals for a initial 3 months of a year. Other factors contributing to a pointy arise in gain of a automotive shred were a high value sales indication mix, potency improvements and softened offered prices. First-quarter revenues rose by 34.7% to euro 14,373 million (2010: euro 10,672 million). EBIT jumped to euro 1,708 million (2010: euro 291 million), ensuing in an EBIT domain for a automotive shred of 11.9%. The distinction before taxation softened to euro 1,605 million (2010: euro 220 million). Free money upsurge in a automotive shred rose to euro 1,624 million (2010: disastrous giveaway money upsurge of euro 306 million).

The BMW code available expansion of 20.8% in a initial entertain with sales of 321,175 vehicles (2010: 265,809 units). The new BMW 5 Series available pointy expansion during a entertain underneath report, some-more than doubling sales volume to 85,423 units (2010: 39,162 units) and stays a universe marketplace personality in a class. Demand for a BMW 7 Series also stays during a high level; initial entertain sales of this array – a BMW’s flagship – increasing by 4.0% to 14,817 units (2010: 14,245 units).

BMW X models also continue to perform well. First-quarter sales of a BMW X1, for example, rose by 38.6% to 27,238 units (2010: 19,657 units). The new BMW X3, on a marketplace given Nov 2010, continues to be renouned with customers, roughly doubling (+94.1%) a sales volume to 22,693 units (2010: 11,693 units). The BMW X5 Series stays marketplace personality in a segment, with sales circumference adult by 1.1% to 23,149 units (2010: 22,897 units).

The MINI code also continues to perform well. In total, 60,860 units (2010: 49,526 units) were sole in a initial 3 months of a year, an boost of 22.9% opposite a same entertain final year. The MINI Countryman, that was combined as a fourth indication within a MINI family in autumn 2010, is quite renouned with business and available 16,078 section sales in a entertain underneath report. More than 30,000 units have already been sole given a models launch. Sales of a MINI Convertible went adult by 8.6% to 6,464 units (2010: 5,954 units). In autumn 2011, a MINI Coup will turn a fifth indication various to join a MINI family.

First-quarter sales of Rolls-Royce code engine cars some-more than doubled to 723 units (2010: 279 units). The Ghost stays quite successful, with roughly 3,000 units sole given a marketplace launch. During a entertain underneath report, a Ghost available a sales volume of 566 units (2010: 158 units). The Phantom also purebred pointy expansion (+60.6%) with 106 units sole in a duration underneath news (2010: 66 units).

The BMW Group available expansion in roughly all regions during a initial 3 months of a year. In total, 200,088 BMW, MINI and Rolls-Royce code cars were sole in Europe, 13.0% some-more than in a prior year. Within those figures, sales increasing by 9.0% to 64,064 units in Germany and by 21.7% to 39,259 units in Great Britain. Growth was also available in Italy (19,007 units; +8.0%), France (16,422 unts; +13.5%) and in Spain (10,722 units +3.3%).

The sales opening in North America was also clever in a initial quarter, with a array of cars sole rising by 17.3% to 71,257 units. Sales in a USA rose by 18.2% to 65,163 units, creation it once again a largest singular marketplace for a BMW Group. High expansion rates were also achieved in Asia, where a sum of 90,148 units were sole (+53.0%), including 58,706 units (+71.6%) in China.

Strong sales volume expansion for Motorcycles segment

First-quarter Motorcycles shred revenues increasing by 13.1% to euro 397 million (2010: euro 351 million). The shred EBIT amounted to euro 31 million (2010: euro 32 million) and was so during a identical turn to a prior year. The shred outcome includes gain of Husqvarna for a initial time. Sales of BMW and Husqvarna code motorcycles rose by 11.4% to 25,049 units (2010: 22,479 units), comprising 23,109 BMW motorcycles (2010: 20,840; +10.9%) and 1,940 Husqvarna motorcycles (2010: 1,639; +18.4%).

Sharp arise in gain of Financial Services segment

The Financial Services shred has also done a good start in 2011, with first-quarter revenues rising by 4.5% to euro 4,183 million (2010: euro 4,004 million). Profit before taxation softened to euro 429 million (2010: euro 222 million), partly reflecting a fact that refinancing conditions remained favourable. The sum array of franchise and financing contracts underneath government increasing by 4.1% to mount during 3,233,567 during 31 Mar 2011. The array of new financing and franchise contracts sealed (276,856) was 13.8% adult on a prior year. Compared to a prior year, franchise business grew by 19.3% and credit financing by 11.5%. Leasing accounted for 30.3% of new business, credit financing for 69.7%. The credit detriment ratio for a entertain fell to 0.55% (2010: 0.65%).

BMW Group workforce of approximately 96,000 employees worldwide

The worldwide workforce increasing by 0.3% to 96,045 employees during 31 Mar (2010: 95,787). Compared to a year-end 2010, there was an boost of 0.6%.

The BMW Group an Overview

The BMW Group

With a 3 brands — BMW, MINI and Rolls-Royce a BMW Group is one of a worlds many successful reward manufacturers of cars and motorcycles. It operates internationally with 24 prolongation sites in 13 countries and a tellurian sales network with illustration in some-more than 140 countries.

During a financial year 2010, a BMW Group sole 1.46 million cars and some-more than 110,000 motorcycles worldwide. The distinction before taxation for 2010 was euro 4.8 billion on revenues amounting to euro 60.5 billion. At 31 Dec 2010, a BMW Group had a workforce of approximately 95,500 employees.

Long-term meditative and obliged movement have prolonged been a substructure of a BMW Groups success. Striving for ecological and amicable sustainability along a whole value-added chain, holding full shortcoming for a products and giving an undeniable joining to preserving resources are primary objectives resolutely embedded in a corporate strategies. For these reasons, a BMW Group has been zone personality in a Dow Jones Sustainability Indices for a final 6 years.

For questions greatfully contact:

Corporate Communications

Mathias Schmidt, Finance Communications
Telephone: (+ 49 89) 382-24118, Fax: (+ 49 89) 382-24418

Internet: www.press.bmwgroup.com
e-mail: presse@bmw.de

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