BMW expects margin to rise
BMW now expects an EBIT margin from its car division of between 9% and 10.5%, compared to 8% to 10% previously.
At the same time, the manufacturer expects solid growth in deliveries, up from a previous forecast of weak growth. A solid base in its order book and better availability of its premium vehicles encourage it in this direction.
Reduction in free cash flow
However, the automaker cut its free cash flow forecast to more than €6 billion from around €7 billion previously, citing the need to store its models and invest more in electrification.
An announcement that does not reassure the markets
The first results and the adjustment of the outlook did not impress the markets favorably, the title of the manufacturer falling by 4.5% at 09:08 GMT, underperforming the German DAX (equivalent to the French CAC40) and the European automotive index. .
Full quarterly results will be released on August 3.
The automaker announced preliminary figures of a group margin of 12.6% on profit before tax in the first half of the year and an EBIT margin of 10.6% in the automotive segment, helped by higher sales and prices.
Source: BMW, Reuters
