Q1 2023 Bayerische Motoren Werke AG Earnings Call (Q&A Session) Transcript

May 04, 2023 / 12:00PM GMT

Release Date Price: $106.95

Transcript

Maximilian SchÃ;berl

Bayerische Motoren Werke Aktiengesellschaft - Head of Corporate & Governmental Affairs

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Good afternoon, ladies and gentlemen. I would like to welcome you all to our telephone conference for the first quarter results. With us today are Oliver Zipse, Chairman of the Board of Management; and Nicolas Peter, our CFO. First, Nicolas Peter will take you through our financial results. Oliver Zipse will give then a general business update for the BMW Group. Afterwards, we will have time for a Q&A session. Nicolas, it's your turn. Please go ahead.

Nicolas Peter

Bayerische Motoren Werke Aktiengesellschaft - CFO & Member of the Board of Management of Finance

Thanks a lot, Max. Good afternoon, ladies and gentlemen. As expected, the BMW Group started 2023 with a solid performance. Group earnings came in at around EUR 5.1 billion with a group EBT margin of 13.9%. After the first 3 months of the year, the Automotive segment delivered an EBIT margin of 12.1%. We achieved this in the face of persistently volatile conditions. The

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