Meanwhile, the first-quarter profit before financial result (EBIT) rose sharply to euro €1,902 million while the profit before tax (EBT) climbed to €1,812 million. Group net profit for the quarter improved to €1,212 million, while the total number of BMW, MINI and Rolls-Royce brand cars sold increased by 21.3 percent to 382,758 units (2010: 315,614 units), the best first-quarter sales volume performance in the Group’s history.
“The BMW Group has made an excellent start to the new financial year. We have generated record earnings and sold more cars in a first quarter than ever before. Strong sales volume growth and rigorous implementation of the Group’s Strategy Number ONE have been major factors behind our successful performance,” stated Norbert Reithofer, Chairman of the Board of Management of BMW AG, on Wednesday in Munich.
The Group’s full-year targets remain unchanged: “The BMW Group is well on its way towards achieving new sales volume and earnings records for the full year. We are aiming for a record sales volume of well over 1.5 million vehicles as well as new full-year sales volume records for each of our premium brands BMW, MINI and Rolls-Royce,” continued Reithofer.
The BMW Group’s target of an EBIT margin of more than 8% for the automotive segment is firmly in place. The BMW, MINI and Rolls-Royce brands all achieved new sales volume records for the first three months of the year.
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