MUNICH (dpa-AFX) - German automajor BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported Wednesday lower profit in its first quarter with weak revenues and deliveries. Further, the company confirmed its fiscal 2025 outlook, citing the sustained demand for its premium vehicles.
In the first quarter, Group net profit totalled 2.17 billion euros, down 26.4 percent from last year's 2.95 billion euros. Earnings per share fell 23.5 percent to 3.38 euros from 4.42 euros a year ago.
Pre-tax earnings or EBT dropped 25.2 percent year-over-year to 3.11 billion euros, and EBT margin fell to 9.2% from 11.4% last year.
EBIT also was down 22.5 percent from last year to 3.14 billion euros.
Group revenues declined 7.8 percent to 33.76 billion euros from last year's 36.61 billion euros.
In the first quarter of the year, the BMW Group delivered 586,117 premium vehicles to customers, down 1.4% from last year. Motorcycles deliveries dropped 3.9 percent to 44,609 units.
Looking ahead, BMW Group continues to anticipate slight sales growth, with fully-electric vehicles contributing to a slightly higher share of deliveries. Group earnings before tax are expected to be on a par with the previous year.
For the year 2025, the company still expects Automotive segment EBIT margin in the range of 5.0 to 7.0 percent, compared to 6.3 percent in fiscal 2024. In the Motorcycles Segment, a slight increase in sales and an EBIT margin within the target range of 5.5 to 7.5 percent are forecast.
The guidance takes into account the effects of the tariff increases that came into force up to March 12.
BMW Group expects demand to rise in many markets in 2025, driven by a stabilizing inflation and further moderate interest rate cuts. In the USA, permanent tariffs could be reflected in rising inflation.
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