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Ahead of the publication of its full financial results for the first quarter of 2017 on May 4, the BMW Group, which is made up of three luxury brands, BMW, MINI and Rolls-Royce, said it achieved a profit before tax of € 3,005 million in the first quarter of the financial year. This is a 26 percent increase in 2016 Q1 record of € 2,368 million .
The result, according to a statement issued in Munich, exceeds current market expectations and was basically driven in particular by positive valuation effects. The significant increase of the profit before tax, the statement added, was largely due to the following effects in the financial result: A positive valuation effect of € 183 million in connection with the participation of new investors in the mapping service, HERE; an increase in the other financial result of € 122 million, driven mainly by valuation effects; and a higher profit contribution from the Chinese joint venture, BMW Brilliance Automotive Ltd.
Group revenues totalled € 23,448 million in the reporting period, an increase of 12.4 percent compared with last year’s figure of € 20,853 million.
The BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services.
As a global company, the BMW Group operates 31 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries. In 2016, the BMW Group sold approximately 2.367 million cars and 145,000 motorcycles worldwide. The profit before tax was approximately € 9.67 billion on revenues amounting to € 94.16 billion.
As of 31 December 2016, the BMW Group had a workforce of 124,729 employees. The success of the BMW Group has always been based on long-term thinking and responsible action.
The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.
