BMW records surprisingly large profit in first quarter of 2021

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Frankfurt, Apr. 20 (BNA): Record sales in the first quarter have given German carmaker BMW a surprisingly large profit in its day-to-day business.

Preliminary figures showed a profit before taxes of 3.76 billion euros (4.5 billion dollars), almost five times as much as at the time of the outbreak of the coronavirus pandemic a year earlier, the DAX-listed group announced on Monday evening in Munich.

According to the company's own statements, BMW exceeded stock market expectations in terms of key earnings figures, dpa reported.

The automotive division was able to increase its earnings before interest and taxes in the first quarter from 229 million euros in the same period last year to now a good 2.2 billion euros.