BMW Q3 Preliminary Free Cash Flow For Automotive Segment Surges
(RTTNews) - German luxury car maker BMW AG (BMW.L, BAMXF.PK, BAMXY.PK) reported that its preliminary free cash flow for the Automotive segment for the third quarter 2020 surged to 3.065 billion euros, from last year's 714 million euros, due to a faster recovery in several markets, which led to higher sales growth, and a further reduction of fixed costs & capital expenditure. The free cash flow for the segment exceeded current market expectations.
The previous earnings forecasts for the individual segments and the Group remain unchanged.
The company noted that economic disruption caused by the coronavirus pandemic continues to significantly impair forecasting and leads therefore to considerable uncertainty in providing an accurate outlook.
BMW will publish its results of the third quarter 2020 on 4 November 2020.
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