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5/7, 7:47 AM (Source: TeleTrader)
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BMW St.-5.16%

80.52
Chart for: BAY.MOTOREN WERKE AG ST

BMW revenue up 15.2% in Q1 to €26.8 billion

Bayerische Motoren Werke (BMW) AG announced its revenue in the first quarter of 2021 saw an annual rise of 15.2% to amount to €26.778 billion.

The company's net profit saw a staggering growth of 393% year-on-year to stand at €2.833 billion, while its profit before tax rose jumped by 370% to €3.757 billion. Its diluted earnings per share (EPS) surged by 407% in the same period, going from €0.84 in the first trimester of 2020 to €4.26 in the aforementioned quarter.

BMW noted "an excellent start to the financial year 2021" that saw a "new record for first-quarter deliveries [...] despite the global impact of the coronavirus pandemic." It stressed that "strong demand for electrified vehicles contributed substantially to this outstanding performance, with deliveries more than doubling compared to the same quarter one year earlier."

Breaking the News / JR