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5/5, 7:33 AM (Source: TeleTrader)
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BMW reports revenue of €31.1B in Q1, up 16% YoY

BMW said on Thursday that its revenue in the first quarter of 2022 amounted to €31.1 billion, jumping 16% compared to the same period in 2021 and topping estimates.

Earnings per share soared from €4.26 last year to €15.33 this year and net profit skyrocketed 259% to €10.2 billion. The German carmaker's profit before tax stood at €12.2 billion in the first quarter, surging 225% compared to a year ago. The results included positive effects from the full consolidation of its Chinese joint venture BMW Brilliance Automotive Ltd (BBA).

The carmaker noted its deliveries in the quarter to March fell 6.2% year on year to 596,907 units, 519,796 of which were from the BMW brand, 7.3% less than in the same trimester in 2021. Sales of Rolls-Royce cars climbed 17.7% to 1,624, while Mini sales increased 1.1% to 75.487 in the first quarter. Meanwhile, motorcycle sales were up 11.3% as the segment delivered 47,403 units in the three-month period.

Baha Breaking News (BBN) / NP