Bayerische Motoren Werke Aktiengesellschaft
Bayerische Motoren Werke Aktiengesellschaft: Profit before tax and revenues of BMW Group above market expectations in first quarter of 2017
Bayerische Motoren Werke Aktiengesellschaft / Key word(s): Quarter Results/Preliminary Results Profit before tax and revenues of BMW Group above market expectations in first quarter of 2017 In the first quarter of the financial year 2017, the BMW Group achieved a profit before tax of EUR 3,005 million (2016 Q1: EUR 2,368 million / +26.9%). This result exceeds current market expectations and was driven in particular by positive valuation effects. The significant increase of the profit before tax was largely due to the following effects in the financial result: – A positive valuation effect of EUR 183 million in connection with the participation of new investors in the mapping service HERE – An increase in the other financial result of EUR 122 million, driven mainly by valuation effects – A higher profit contribution from the Chinese joint venture BMW Brilliance Automotive Ltd. Group revenues totalled EUR 23,448 million in the reporting period, an increase of 12.4% compared with last year’s figure of EUR 20,853 million. Segment results were as follows (in EUR million):
In the Automotive segment the EBIT margin (profit/loss before financial result as a percentage of revenues) was 9.0% in the reporting period (2016 Q1: 9.4%). The BMW Group continues to target a slight increase in Group profit before tax and an EBIT margin in the automotive segment within the range of 8 to 10% for the financial year 2017. All mentioned figures are preliminary and unaudited. The full results of the first quarter of 2017 will be published on 4 May 2017. Contact: Notifying Person: Torsten Schüssler Head of Investor Relations Tel.: +49-89-382-25387
20-Apr-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Bayerische Motoren Werke Aktiengesellschaft |
Petuelring 130 | |
80788 Munich | |
Germany | |
Phone: | +49 (0)89 382 0 |
Internet: | www.bmwgroup.com |
ISIN: | DE0005190003, DE0005190037 |
WKN: | 519000 , 519003 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |