Q3 2023 Bayerische Motoren Werke AG Earnings Press Conference Transcript
Colleagues, ladies and gentlemen, good morning, and welcome to the telephone conference of BMW Group for the third quarter. We have here today, as always, Oliver Zipse, Chairman of the Board of Management of BMW AG; and our CFO Walter Mertl. Mr. Zipse and Mr. Mertl will begin by giving you an overview of business development. And after that, you'll be given the opportunity to ask your questions.
I give the floor to Walter Mertl to begin.
Good morning, ladies and gentlemen. BMW Group delivered a strong performance in the third quarter. As expected, we achieved solid sales growth and correspondingly positive financial key figures. The group EBIT margin for the third quarter came in at 10.6%. For a 9-month period from January to September, it was 11.9%, exceeding our strategic target of 10%. The Automotive segment posted an EBIT margin of 9.8% for the third quarter and 10.3% for the year to the end of September.
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