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    BMW   DE0005190003

BMW AG

(BMW)
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Real-time Estimate Tradegate  -  02:39 2022-12-05 am EST
85.33 EUR   +0.08%
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BMW sees slight growth in 2023, cuts Germany gas intake by 15%

09/26/2022 | 09:32am EST
FILE PHOTO: BMW CFO Peter addresses the company's annual news conference in Munich

BERLIN (Reuters) - BMW expects to reach the higher end of its 7-9% margin target for the cars business and sees slight sales growth in 2023, chief financial officer (CFO) Nicolas Peter said in a roundtable on Monday.

Demand was recovering in China in the third quarter after lockdowns plagued the first half, the CFO said. In Europe, demand was weak in Germany and the United Kingdom but stronger in France, Spain, and Italy.

The luxury carmaker expected to hit its target of 10% fully-electric sales this year at around 240,000-245,000 vehicles and could see that figure rising to around 400,000 next year, Peter added.

Asked how BMW was responding to the gas shortage in Europe, Peter said it had reduced its gas intake in Germany and Austria by 15% and expected to be able to cut it further. It had not seen any production cuts in its supplier network so far, he said.

(Reporting by Victoria Waldersee, editing by Rachel More)


ę Reuters 2022
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Analyst Recommendations on BMW AG
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Financials
Sales 2022 138 B 144 B 144 B
Net income 2022 16 608 M 17 414 M 17 414 M
Net cash 2022 23 477 M 24 617 M 24 617 M
P/E ratio 2022 3,41x
Yield 2022 8,61%
Capitalization 55 023 M 57 694 M 57 694 M
EV / Sales 2022 0,23x
EV / Sales 2023 0,20x
Nbr of Employees 118 909
Free-Float 57,3%
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Technical analysis trends BMW AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 85,26 €
Average target price 99,18 €
Spread / Average Target 16,3%
EPS Revisions
Managers and Directors
Oliver Zipse Senior VP-Corporate Planning & Product Strategy
Nicolas Peter Group Leader-Corporate Finance
Norbert Reithofer Chairman-Supervisory Board
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Chairman-General Works Council
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