Q1 2023 Bayerische Motoren Werke AG Earnings Press Conference Transcript
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(inaudible) will have the opportunity to ask questions. Now let me hand over to our CFO, first, Nicolas Peter.
Thank you, Max. Good morning, 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 that geopolitical and macroeconomic situation remains tense. Inflation and interest rates remain at a high level in many markets. The same applies to material and commodity prices.
Sales of our fully electric vehicles increased dynamically in the first 3 months of the year, just under 65,000 units were sold, an increase of over 83% compared to
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