BMW AG reached record highs in free cash flow

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AK&M 20 October 2020 21:13
The preliminary free cash flow for the Automotive segment of BMW AG in the third quarter 2020 amounts to €3,065 million (previous year: €714 million) and thus exceeds current market expectations, as it was informed by the company in the press release of Oct. 19.

This was due in particular to a faster recovery in several markets, which led to higher sales growth. In addition, a focused management has led to an optimization of working capital and a further reduction of fixed costs and capital expenditure. The impact of this development on the free cash flow for the Automotive segment for the full year will be communicated with the release of the Quarterly Statement to 30 September 2020.

The previous earnings forecasts for the individual segments and the Group remain unchanged.

BMW AG will publish further details on the results of the third quarter 2020 on 4 November 2020.

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries.

In 2019, the BMW Group sold over 2.5 million passenger vehicles and more than 175,000 motorcycles worldwide. The profit before tax in the financial year 2019 was € 7.118 billion on revenues amounting to € 104.210 billion. As of 31 December 2019, the BMW Group had a workforce of 126,016 employees.