BMW was the last of the European automakers to release its Q1 figures. And unlike all of them, it saw its top-line actually increase by 3.5%, buoyed by the Financial Services segment. Below the surface, though, BMW more closely resembles its German peers, as the automotive division was knocked by the COVID-19 pandemic. The cut to the 2020 guidance and the expectation of an even tougher Q2 will put pressure on the group’s otherwise strong balance sheet.
06 May 2020
Q1: unexpected top-line increase, but the Q2 outlook is grim
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Q1: unexpected top-line increase, but the Q2 outlook is grim
Bayerische Motoren Werke AG (BMW:WBO) | 0 0 0.6% | Mkt Cap: 57,166m
- Published:
06 May 2020 -
Author:
Jorge Velandia -
Pages:
3
BMW was the last of the European automakers to release its Q1 figures. And unlike all of them, it saw its top-line actually increase by 3.5%, buoyed by the Financial Services segment. Below the surface, though, BMW more closely resembles its German peers, as the automotive division was knocked by the COVID-19 pandemic. The cut to the 2020 guidance and the expectation of an even tougher Q2 will put pressure on the group’s otherwise strong balance sheet.