Bayerische Motoren Werke AG (BAMXF) Q4 2019 Earnings Call Transcript

Bayerische Motoren Werke AG (BAMXF) Q4 2019 Earnings Call Transcript

Bayerische Motoren Werke AG ( OTC:BAMXF ) Q4 2019 Earnings Call March 19, 2020 , 4:00 a.m. ET. I would now like to welcome Oliver Zipse, Chairman of the Board of Management of BMW AG.. And I would also like to welcome Nicolas Peter, Board Member for Finance.. We have put a comprehensive package of measures into effect.. There will be a time during the coronavirus, and there will be a time after the coronavirus.. Nicolas Peter will present the figures for the financial year 2019 as well our forecasts for the current year 2020, which we have adjusted at short notice to the current situation.. Although we are well under way in many operational aspects, the measures regarding the coronavirus will impact our business significantly in the current year.. We are targeting an EBIT margin of between 8% and 10% in the Automotive segment and a free cash flow of more than EUR3 billion.. Our steadily improving performance during the financial year 2019 shows we are on the right track.. In the Automotive segment, we continue to improve both our operating result and our profitability.. Ladies and gentlemen, as previously announced, we steadily improved our performance after a first