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A place for vision: the BMW Group.
+++ Reithofer: “BMW Group has strengthened its competitive leadership position under Oliver Zipse” +++ Jochen Goller succeeds Pieter Nota as Board Member for Customer, Brands, Sales +++ Supervisory Board thanks Nota for great commitment and important impulses +++
Munich. The Supervisory Board of BMW AG has today extended the contract of Oliver Zipse as Chairman of the Board of Management until 2026. Zipse has been a member of the Board of Management since 2015 and Chairman of the Board since August 2019. During his term of office, the BMW Group significantly expanded its range of electric vehicles and today offers fully electric models in almost all of its core segments. In addition, development began on the Neue Klasse as the next model generation, with production starting in 2025.
Norbert Reithofer, Chairman of the Supervisory Board of BMW AG, said: “Oliver Zipse has very successfully steered the company in recent years through an extremely volatile environment. In a phase of global crises and profound transformation, the BMW Group has not only achieved reliably robust results under his leadership, but has also sustainably strengthened its leading position in global competition. With the Neue Klasse, the BMW Group is well on track to further expand this position.”
+++ Higher sales target and automotive EBIT margin for 2023 +++ Group EBT margin comes in at 12.6% for HY1 +++ Automotive EBIT margin at 10.6% after six months +++ Free cash flow of € 3.1 billion in Automotive Segment in YTD June +++ Deliveries of fully-electric BMW vehicles up 133% +++ Zipse: “Economic success during the transformation” +++
Munich. The BMW Group delivered a strong financial and operating performance in a difficult environment in the first half of 2023. In the first six months, the premium automotive manufacturer achieved a Group EBT margin of 12.6% and an EBIT margin of 10.6% in the Automotive Segment. In the second quarter, the Group EBT margin came in at 11.3% (Q2 2022: 11.3%). In the Automotive Segment, the EBIT margin increased to 9.2% (Q2 2022: 8.2%).
As previously reported in an ad hoc announcement, the company is now planning for solid growth in deliveries for the full year 2023 (previously slight growth). Growth drivers should be highly priced models as well as fully electric vehicles. BEV models are set to account for 15% of total vehicle sales. The EBIT margin in the Automotive Segment is now projected to be within the range of 9-10.5% (previously 8-10%).
Munich. The BMW Group updated its full-year outlook for 2023 today. Given the solid operational performance in the first half of 2023, the company expects positive momentum in the business during the second half of the year. This is built on the ongoing strength of the order bank and an expected improvement in the availability of its premium vehicles.
The BMW Group made the following changes to their guidance on financial indicators:
- Automotive segment deliveries to customers is expected to see solid growth over the prior-year level (previously: slight growth).
- In the Automotive segment, the EBIT margin for full year 2023 is anticipated to be within the corridor of 9% to 10.5% (previously: 8% to 10%)
- In the Automotive segment, Return on Capital Employed (RoCE) is expected to be between 18% and 22% (previously: 15% to 20%)
- The Financial Services segment Return on Equity (RoE) is expected to be between 16% and 19% (previously: 14% to 17%).
Additionally, free cash flow in the Automotive segment is now anticipated to be above €6 billion for the full year 2023, taking into account higher investments in the transformation to electromobility as well as increased inventories to ensure the necessary supply of vehicles to the markets.
BMW Group key figures.
Who we are.
The BMW Group company profile.
The special fascination of the BMW Group not only lies in its products and technology, but also in the company’s history, written by inventors, pioneers and brilliant designers. Today, the BMW Group, with more than 30 production and assembly facilities as well as a global sales network, is the world’s leading manufacturer of premium automobiles and motorcycles, and provider of premium financial and mobility services.
Production today and tomorrow.
The BMW Group sets trends in production technology and sustainability as an innovation leader with an intelligent material mix, a technological shift towards digitalisation and resource-efficient production. At the same time, flexibility and continuous optimisation of value chains ensure competitiveness.
Sustainability: the guiding principle for all our actions.
Long-term thinking and responsible action are the basis of economic success. Ecological and social sustainability, comprehensive product responsibility and a clear commitment to conserving resources are therefore an integral part of our strategy.
Five BMW Group milestones.
BMW can trace its roots back to Karl Rapp and Gustav Otto. In 1916, the Flugmaschinenfabrik Gustav Otto company had merged into Bayerische Flugzeug-Werke AG (BFW) at government behest. Elsewhere, in 1917, the Rapp Motorenwerke company became Bayerische Motoren Werke GmbH, which was duly converted into an AG (public limited company) in 1918. BMW AG subsequently transferred its engine construction operations – including the company and brand names – to BFW in 1922. The date of BFW’s founding, 7 March 1916, has therefore gone down in history as the foundation date of Bayerische Motoren Werke AG.Discover history
BMW announced its first motorcycle, the R 32, to great excitement in 1923. Until then the company had only supplied engines rather than complete vehicles. The basic concept of the original BMW Motorrad model – a boxer engine with longitudinally positioned cylinders and shaft drive –continues to be employed in the company’s motorcycles to this day.Discover history
BMW's first post-war automobile was the 501, built from 1952 onwards. A large saloon capable of seating up to six people, it was powered by an enhanced version of the six-cylinder engine used in the pre-war BMW 326. As a luxury car, the BMW 501 was not a commercial success, but it nevertheless restored BMW's status as a manufacturer of high-quality cars.Discover history
The Rosslyn plant near Pretoria, South Africa, became the first production location outside of Germany for the modern BMW Group. In 1972, the BMW Board of Management decided to take over the entire Rosslyn facility constructed by the local importer. Assembly of the Glas 1800 SA model had started in 1967 and was later followed by the BMW 2000 SA. After major investments, production of BMW 3 Series vehicles was launched there at the beginning of 1984.Discover history
Strategy Number ONE aligns the BMW Group with two targets: to be profitable and to enhance long-term value – from a technological, structural and cultural perspective. The mission statement up to the year 2020 is to become the world’s leading provider of premium products and premium services for individual mobility.Discover history
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