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(RTTNews) - German automajor BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported Wednesday weak profit and revenues in its first quarter, mainly hurt by lower vehicle deliveries. Further, the firm maintained fiscal 2026 outlook.
In the first quarter, net profit dropped 23.1 percent to 1.67 billion euros from last year's 2.17 billion euros. Earnings per share fell 20.7 percent to 2.68 euros from 3.38 euros a year ago.
The Group achieved earnings before tax or EBT of 2.35 billion euros, down 24.6 percent from last year. The EBT margin for the period was 7.6 percent, down from 9.2 percent last year.
The Munich-based premium automaker reported revenues of 31.01 billion euros, down 8.1 percent from 33.76 billion euros. Adjusted for currency translation effects, revenues fell 4.3 percent amid the persistently intense competition in the automotive sector, particularly in China, as well as the slight decline in sales.
The BMW Group delivered a total of 565,780 vehicles to customers worldwide in the first quarter, down 3.5 percent from the last year. The BMW brand delivered a total of 496,006 vehicles to customers, down 4.6 percent year-over-year.
Looking ahead for fiscal 2026, the company continues to expect a moderate decline in Group earnings before tax.
EBIT margin for the Automotive Segment is still expected to be within the range of 4 percent to 6 percent, compared to 5.3 percent in fiscal 2025.
In the Motorcycles Segment, deliveries are forecast to be on a par with the previous year, with an EBIT margin within the range of 4 percent to 6 percent, compared to 5.7 percent in fiscal 2025.
BMW Group continues to expect a higher level of volatility related to tariffs. The company anticipates a negative impact from higher tariffs of around 1.25 percentage points on the EBIT margin in the Automotive segment.
Globally, the company forecasts that deliveries will be on a par with the previous year and that fully-electric vehicles will account for the same share of sales as 2025.
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