FRANKFURT, Germany: Booming sales in China and new versions of key models pushed automaker BMW AG's earnings higher by 18 percent in the first quarter to 1.35 billion euros ($1.77 billion).
Sales were flat in Europe where the economy is slack, but the Munich-based maker of luxury cars and SUVs saw a 36 percent jump in deliveries in China, where it now sells more vehicles than it does in the United States.
Revenue rose 14 percent to €18.29 billion, the company said.
Sales worldwide rose 11 percent to 425, 528. Top performers were new versions of the 1-series compact and the X3 smaller SUV. The larger X5 SUV and the large 7-series sedan, both of which reap big profit margins, also saw better sales.
Sales in China outpaced those in the United States, 80,218 to 75,931. But deliveries in Europe, which is struggling with a slow economy and a crisis over too much government debt, only edged up 0.5 percent.
Analyst Max Warburton said a strong product mix emphasizing expensive vehicles with high profit margins helped alongside the higher sales numbers. He said more profitable vehicles, defined as the mid-size 5-series sedan and up, represented 50 percent of sales.
"BMW's sales mix, pricing and profitability remain superb," Warburton said.
BMW's profit margins — measured as earnings before interest and taxes as a percentage of sales — came in at 11.6 percent, down slightly from 11.9 percent but ahead of 11.4 percent posted by Volkswagen unit Audi AG and 8.4 percent for Daimler AG's Mercedes brand.
Germany's luxury carmakers are making fat profits, much of it on export sales to emerging markets and the United States, while Europe's mass-market carmakers such as GM's Adam Opel AG and Fiat are struggling with tough competition and weak sales and pricing.
BMW's workforce grew by 5.4 percent over the past year and it employed 101,260 people at the end of the quarter. Part of the increase came from the acquisition of the ICL Group car leasing unit, but the company said that "skilled workers and engineers continue to be recruited in order to keep pace with persistently strong demand for BMW Group vehicles, to push innovations and to focus on the development of new technologies."
BMW makes cars under the BMW, Mini and Rolls-Royce brands. It also sells BMW and Husqvarna motorcycles.
FROM: THE ASSOCIATED PRESS
BMW profit up 18%
BMW profit up 18%
King Abdulaziz Airport among world’s busiest after record-breaking 2025
RIYADH: King Abdulaziz International Airport has achieved a new historical milestone, reaching 53.4 million passengers in a single year.
This is the highest number ever recorded at a Saudi airport since the beginning of air travel in the Kingdom, placing it among the world’s mega airports in terms of passenger traffic, according to the Saudi Press Agency.
The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights.
This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience.
For his part, CEO of Jeddah Airports Co. Mazen Johar, affirmed that reaching 53.4 million passengers confirms the airport’s high operational readiness and represents a pivotal milestone for moving to the next phase, in preparation for doubling this number, God willing, in the coming years.
He pointed out that this national achievement would not have been possible without the grace of God Almighty, followed by the directives of the wise leadership and the continuous follow-up from the minister of transport and logistics, the president of the General Authority of Civil Aviation, and the CEO of Airports Holding Co.
He explained that King Abdulaziz International Airport is strengthening its position as a major aviation hub in the region through expansions, increased capacity, and improved services, supporting the objectives of the aviation program and aligning with the goals of the Kingdom’s Vision 2030.
The CEO of Jeddah Airports Co. expressed his gratitude to the partners in success from various government and private sectors for their fruitful cooperation through a collaborative work system that contributed to providing the best services.
