BMW Motorrad reports record Q1
BMW Motorrad had its best first quarter in company history, with sales volume growing 16.1 percent to 28,719 units from Q1 2013.
The sales growth was attributed mostly to a warm spring in Europe. Germany, France, Italy and Spain all saw sales growth in Q1, leading the continent to a 19.6 percent increase to 17,098 motorcycles. The U.S. market dipped 1.8 percent for BMW.
Q1 motorcycle production increased for the company, with 38,649 motorcycles produced through the end of March, a 9.7 percent increase from last year’s first quarter.
BMW Motorrad’s Q1 revenues grew 8.3 percent to €472 million, while EBIT increased 25.5 percent to €64 million. Profit before tax rose 26.0 percent to €63 million during the quarter. Those figures represent the best quarterly earnings performance for BMW Motorrad.
Overall, the BMW Group also fared well, with group revenues increasing 3.9 percent to €18.2 billion. EBIT rose 2.6 percent to €2.1 billion, and profit before tax improved by 8.1 percent to €2.2 billion.
“The BMW Group has made a strong start to the current financial year with new record first-quarter figures for sales volume and profit before tax. The 9.5 percent EBIT margin recorded by the Automotive segment keeps us firmly within the upper range of 8-10 percent that we wish to attain,” said Norbert Reithofer, chairman of the Board of Management of BMW AG, on Tuesday in Munich.
