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BMW expects significant profit growth in 2021

Europe / Business and Finance

The BMW carmaker specializes in the production of BMW, Mini and Rolls-Royce cars, motorcycles and engines. The company is headquartered in Munich. The staff exceeds 120 thousand people.

BMW expects significant profit growth in 2021

German automaker BMW said Wednesday it expects a significant increase in profits in 2021 as it predicts strong performance in all of its segments.

BMW, which also owns the MINI and Rolls-Royce brands, said it expects the auto segment to show solid year-over-year sales growth, with the segment's EBIT margin expected to rise to 6-8%.

About 90% of market segments will have all-electric models by 2023, and the BMW i4 model will launch three months ahead of schedule, the automaker said in a statement.

“The BMW Group has ambitious plans for 2021,” said CEO Oliver Zipse. “We started the new year very dynamically and strive to return to the pre-crisis level as soon as possible - and go even further.”

BMW shares up 2.2% in trading ahead of the Lang & Schwarz market.

Recall that in 2020, the German automaker's net profit fell by 23.2% to 3.857 billion euros.

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