BMW: preliminary results exceed expectations

(CercleFinance.com) - On Monday evening BMW reported a sharp rise in Q1 profit thanks to a favourable price/mix effect and strong used car sales in the network.


The Bavarian manufacturer's operating profit rose to over 2.2 billion euros in the first three months of the year, storming ahead of the 229 million euros reported a year ago, while analysts were expecting significantly lower at 1.6 billion euros.

The German group said its automotive division achieved an operating margin of 9.8% in the quarter, well above the 1.3% achieved last year and the 7.9% expected by the consensus.

This morning analysts at Oddo BHF said that the company did not disclose its outlook as usual, although its Q1 performance bodes well for its annual targets.

Even so, the BMW share is currently down 0.4% on Tuesday in Frankfurt following the publication of these preliminary quarterly results - however, note that it has increased by over 20% YTD.



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