Bayerische Motoren Werke AG (OTCPK:BMWKY)
$ 25.71 0.57 (2.27%) Market Cap: 48.13 Bil Enterprise Value: 104.46 Bil PE Ratio: 5.48 PB Ratio: 0.50 GF Score: 80/100

Q1 2023 Bayerische Motoren Werke AG Earnings Press Conference Transcript

May 04, 2023 / 08:00AM GMT
Release Date Price: $38.15 (+2.77%)
Maximilian SchÃ;berl
Bayerische Motoren Werke Aktiengesellschaft - Head of Corporate & Governmental Affairs

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(inaudible) will have the opportunity to ask questions. Now let me hand over to our CFO, first, Nicolas Peter.

Nicolas Peter
Bayerische Motoren Werke Aktiengesellschaft - CFO & Member of the Board of Management of Finance

Thank you, Max. Good morning, ladies and gentlemen. As expected, the BMW Group started 2023 with a solid performance. Group earnings came in at around EUR 5.1 billion with a Group EBT margin of 13.9%. After the first 3 months of the year, the Automotive segment delivered an EBIT margin of 12.1%. We achieved this in the face of persistently volatile conditions that geopolitical and macroeconomic situation remains tense. Inflation and interest rates remain at a high level in many markets. The same applies to material and commodity prices.

Sales of our fully electric vehicles increased dynamically in the first 3 months of the year, just under 65,000 units were sold, an increase of over 83% compared to

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