BMW: expects third-quarter auto FCF above market forecasts

(CercleFinance.com) - BMW said late on Monday that it expects free cash flow at its automotive business to exceed market expectations in the third quarter.


As it published its preliminary quarterly figures, the German premium carmaker said free cash flow for the business would rise to 3.1 billion euros in the quarter, versus 714 million euros in the same period last year.

In its statement, BMW cited the "faster recovery" of sales in several markets, along with a further reduction in fixed costs and capital expenditure.

However, the Munich-based carmaker also pointed out that economic disruption caused by the coronavirus pandemic continues to impair forecasts, leading to "considerable uncertainty" in providing an accurate outlook.

BMW said it will publish its detailed third quarter results on 4 November.

The shares were down 1.2% in early morning trading on Tuesday.

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