FRANKFURT: BMW on Monday (Oct 19) said rebounding markets helped the German carmaker to deliver higher-than-expected free cash flow in the automotive segment during the third quarter.
Free cash flow amounted to €3.07 billion (US$3.61 billion) in the third quarter, up from €714 million (US$840.16 million) in the year-earlier period, the carmaker said late on Monday.
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"This was due in particular to a faster recovery in several markets, which led to higher sales growth," BMW said in a preliminary earnings release which was published ahead of the company's scheduled quarterly earnings on Nov 4.
An optimisation of working capital and a reduction of fixed costs and capital expenditure had helped to bolster earnings, but earnings forecasts for the individual segments and the multi-brand carmaking grRead More – Source
