BMW ticks off the corona pandemic: The Munich-based carmaker reports record sales at the start of the year - and a drastic increase in profits.
Munich - The Munich car manufacturer BMW is surprisingly quick to leave the corona pandemic behind.
At the start of the year, Bayern achieved a surprisingly rapid increase in profits thanks to a record sales.
According to the key figures published on Monday evening, the group earned 3.76 billion euros before taxes - almost five times as much as at the beginning of the corona pandemic a year ago.
According to its own information, BMW exceeded the analysts' expectations.
The automotive division was able to increase its earnings before interest and taxes (Ebit) almost tenfold in the first quarter from 229 million in the same period of the previous year to a good 2.236 billion euros.
BMW intends to present detailed figures on May 7th.
BMW: Still strong demand in China
The group continues to pick up speed, especially in China.
Overall, it was also possible to increase sales in all regions of the world and with all brands.
Among other things, according to the group, price effects and high demand for used cars also led to the surprisingly high results.
The core business with cars was much more profitable: The profit margin climbed from 1.3 percent a year ago to 9.8 percent.
BMW had already reported significant increases in sales last autumn.
Thanks to the strong demand, especially from China and the expiring VAT reduction in Germany, the Bavarians had also closed the fourth quarter of 2020 with a sales record.
BMW: Arch-rivals Mercedes-Benz more profitable at the start of the year
The other German car manufacturers are also getting through the crisis comparatively well thanks to the good business in China. Only last week, Daimler had presented unexpectedly strong figures. At the beginning of the year, the operating profit had risen to 5.7 billion euros after 617 million in the same period of the previous year. With an operating return of 14.3 percent, the Swabians were even clearly ahead of BMW. One of the reasons is the newly introduced Mercedes S-Class in autumn. It is considered to be an important earnings generator for the group.
(dpa / utz)