First quarter net profit at the BMW group of €519 million was 0.8% down on Q1 2004’s €523 million and is equivalent to €0.77 per share.

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The return on sales, at 7.8%, was similarly stable (Q1 2004: 7.9%).


Car sales volume achieved during the first three months set a new quarterly record.


At €10,357 million, group revenues during the first three months of 2005 were down due primarily to model life-cycle factors in the automobiles segment and to the weakness of the US dollar against the euro.


Profit was affected adversely by, in particular, significantly higher raw material prices, currency factors and increased competitive pressure. Group profit before tax of €812 million was 4.6% down on last year’s result.

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“The first three months of 2005 support our positive expectations for the full year. Despite adverse external factors and the model change of the group’s strongest-selling model [3] series, our goal of achieving approximately the high earnings level of 2004 remains unchanged”, said BMW chairman Helmut Panke.


BMW, Mini and Rolls-Royce brand car sales rose 8.2% during the first quarter 2005 by 8.2% to 292,207 units, the highest ever achieved in a first quarter. At 239,387 units, the number of BMW brand cars sold between January and March 2005 was up 7.8%. 52,694 Minis were delivered to customers, an increase of 10.3%, but Rolls-Royce sales were down 10% to 126 Phantoms.


The weakness of the US dollar against the euro, together with model life-cycle induced factors, held down the revenues and earnings performance of the automobiles segment in first quarter 2005. While segment revenue increased 2.2 % to €9,954 million, segment profit before tax fell 5.4% to €702 million.


The financial services segment continued to perform well during Q1 2005. The overall volume of new contracts signed with retail customers amounted to €5,110 million, up 9.6%. The proportion of new group cars financed in-house was up from 39.5% to 42.3%.


The segment profit before tax for the first quarter 2005 increased 13.6% to €150 million.