DGAP-Ad-hoc: Bayerische Motoren Werke Aktiengesellschaft / Key word(s): Quarterly / Interim Statement
Bayerische Motoren Werke Aktiengesellschaft: Preliminary free cash flow for the Automotive segment in the third quarter 2020 above market expectations
19-Oct-2020 / 20:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The preliminary free cash flow for the Automotive segment in the third quarter 2020 amounts to ?3,065 million (previous year: ?714 million) and thus exceeds current market expectations.
This was due in particular to a faster recovery in several markets, which led to higher sales growth. In addition, a focused management has led to an optimisation of working capital and a further reduction of fixed costs and capital expenditure.
The impact of this development on the free cash flow for the Automotive segment for the full year will be communicated with the release of the Quarterly Statement to 30 September 2020.
The previous earnings forecasts for the individual segments and the Group remain unchanged.
Economic disruption caused by the coronavirus pandemic continues to significantly impair forecasting and leads therefore to considerable uncertainty in providing an accurate outlook.
BMW AG will publish further details on the results of the third quarter 2020 on 4 November 2020.
The definition of free cash flow is provided on page 244 in the BMW Group Annual Report 2019. Working capital comprises inventories as well as trade receivables and trade payables.
Head of Investor Relations
19-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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