BMW 3Q Auto Segment Cash Flow Exceeded Expectations
October 20 2020 - 1:58AM
Dow Jones News
By Giulia Petroni
BMW AG said late Monday that its preliminary free cash flow for
the automotive segment exceeded expectations in the third quarter
as several markets experienced a faster recovery.
The German luxury car maker said quarterly cash flow in the
segment amounted to 3.07 billion euros ($3.61 billion) from EUR714
million in the previous-year period.
"This was due in particular to a faster recovery in several
markets, which led to higher sales growth," it said, adding that it
was able to optimise working capital and further reduce fixed costs
and capital expenditure.
BMW said the previous earnings forecast for individual segments
remains unchanged but disruptions caused by the pandemic have
generated significant uncertainty in providing accurate
forecasting.
The company is scheduled to release third-quarter results on
Nov. 4.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 20, 2020 01:43 ET (05:43 GMT)
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