Login

BMW Says Third-Quarter Cash Flow In Auto Segment Was Above Expectations

An optimisation of working capital and a reduction of fixed costs and capital expenditure had helped to bolster earnings, but earnings forecasts for the individual segments and the multi-brand carmaking group remain unchanged.
Calendar-icon

By Reuters

clock-icon

1 mins read

Calendar-icon

Published on October 20, 2020

Follow us on

google-news-iconWhatsapp-icon
Story

Highlights

    BMW on Monday said rebounding markets helped the German carmaker to deliver higher-than-expected free cash flow in the automotive segment during the third quarter. Free cash flow amounted to 3.07 billon euros ($3.61 billion) in the third quarter, up from 714 million euros ($840.16 million) in the year-earlier period, the carmaker said late on Monday.

    "This was due in particular to a faster recovery in several markets, which led to higher sales growth," BMW said in a preliminary earnings release which was published ahead of the company's scheduled quarterly earnings on Nov. 4.

    An optimisation of working capital and a reduction of fixed costs and capital expenditure had helped to bolster earnings, but earnings forecasts for the individual segments and the multi-brand carmaking group remain unchanged.

    "Economic disruption caused by the coronavirus pandemic continues to significantly impair forecasting and leads therefore to considerable uncertainty in providing an accurate outlook," BMW said.

    Stay updated with automotive news and reviews right at your fingertips through carandbike.com's WhatsApp Channel.

    Great Deals on Used Cars

    View All Used Cars

    Popular BMW Models

    Explore More