ICYMI: BMW can flash the cash at depressed shareholders
a 17% increase in revenue in its car segment to 26.7 billion euros. It also stuck to plans to keep operating profit margins this year between 7% and 9%, and ramp up fully electric car sales. Despite a shortage of supplies and war-driven shutdowns, carmakers have mostly kept their guidance intact thanks to the ability to whack up prices. BMW’s prestige brands help, but StellantisWhat’s not premium are European carmakers’ share prices.
will steal market share. But BMW will have over 30 billion euros of cash by year end on its balance sheet, Jefferies reckons, equivalent to about 60% of its market capitalisation. If shareholders stay glum, Chief Executive Oliver Zipse has a powerful war chest to keep buying back shares.
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