Positive quarterly for BMW which recorded in the three months from July to September revenues equal to 27,47 billion euros, an increase of 4,5% compared to the same period of 2020, with Ebit margin of the automotive division equal to 7,8%. L'EBIT it stood at 2,88 billion, up 50% on last year's 1,92 billion. The figure also exceeded the expectations of analysts who expected an EBIT of 2,34 billion.
“The persistence of positive effects on prices for vehicles new and used, as well as a favorable product mix, more than compensated for the lower sales volume”, underlines the company in the note on the accounts. In fact, the German automotive giant recorded a drop in sales in the third quarter deliveries of vehicles of the BMW, Mini and Rolls-Royce brands by 12% to 593.177 units due to supply chain problems. In parallel, however, sales concentrated on the more profitable vehicle segment, offsetting the decrease. Expanding the reference time horizon, in the nine months deliveries rose by 18% to 1.932.224 units
Going into detail, from January to the end of September BMW sold 231.575 fully electric and plug-in hybrid vehicles, almost double compared to the nine months of 2020 (+98,9%). Record sales on electric vehicles, increased by 121,4% to 59.688 units.
The company has confirmed the guidance on 2021, reviewed last September 30 and which forecasts an EBIT margin of the automotive segment should reach between 9,5% and 10,5%. The group continues to forecast a pre-tax profit "significantly higher than the previous year". Speaking about the problems related to the supply of the chips, the Chief Financial Officer, Nicolas Peter, explained that the difficulties "should also concern us after 2021".
In Frankfurt, after the quarterly, the BMW title gains half a percentage point to 89,04 euros per share.
