BMW: Q1 net profit increases fivefold

(CercleFinance.com) - BMW group has published sales of 26.
7 billion euros for the first quarter of 2021, up 15.2% y-o-y.

Business was driven in particular by the dynamic auto (+26.5%) and motorbike (+35.2%) segments.

EBIT more than doubled between Q1 2020 and Q1 2021, reaching 3 billion euros (+120%).

At the same time, the group's net profit increased fivefold, from 574 million euros to 2.8 billion euros, giving an EPS of 4.26 euros, which beat the consensus.

The group said that Q1 showed that its global business model is successful, even in times of crisis. It clearly remains on the path to sustainable and profitable growth.

However, the share is up only slightly (+0.3%) an hour into trading, underperforming the DAX 30 (+0.7%).


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