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.
