+++ Zipse: “Right on track to meet our goals for the year” +++ Group EBT margin of 10.6% in Q3 and 11.9% in YTD September +++ Automotive EBIT margin of 9.8% in Q3 and 10.3% in YTD September +++ Free cash flow of € 5.8 billion in Automotive Segment in YTD September +++ Percentage of BEV deliveries increases to 15.1% in Q3 +++
Munich. The BMW Group is maintaining its course for profitable growth in a volatile business environment. The company once again reaffirmed its leading position in the global premium segment, with a solid increase in sales to 621,699 premium automobiles in the third quarter and 1,836,563 units over the nine-month-period (Q3 2022: 587,744 units/+5.8%; 2022: 1,747,838 units/+5.1%).
The BMW Group combined this growth with a strong financial performance: The EBT margin for the first nine months came in at 11.9% (2022: 19.6%; Q3: 10.6%; Q3 2022: 11.0%), with an EBIT margin in the Automotive Segment of 10.3% (2022: 8.7%; Q3: 9.8%; Q3 2022: 8.9%). Excluding depreciation for BBA assets from the purchase price allocation, the EBIT margin was 10.8% in the third quarter (Q3/2022: 10.1%) and 11.4% (Sept YTD/2022: 11.7%) after nine months.
+++ BMW Group third-quarter sales up +5.8% +++ BEV deliveries climb +79.6% in Q3 +++ Deliveries of fully-electric BMW vehicles double once again (+100.3%) +++ BMW brand remains number one in global premium segment, builds on strong competitive position +++ Pieter Nota: “Overall, we are on track to meet our growth targets for 2023. Our sales of fully-electric vehicles significantly outperformed the total BEV market in the first nine months – clearly underlining the appeal of our products.” +++
Munich. The BMW Group sold 93,931 fully-electric BMW and MINI vehicles in the third quarter – an increase of +79.6% compared to the same period of last year. The BMW brand once again doubled its third-quarter deliveries of fully-electric vehicles from the same period of last year (+100.3%). The company was thus able to translate customer interest in its fully-electric products into dynamic growth.
“The sales success of the third quarter shows that our customers appreciate our wide range of attractive products across all drive technologies. Our fully-electric products, in particular, are benefiting from high demand worldwide – as seen in our BEV sales, which significantly outperformed the total BEV market in the first nine months,” said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “Overall, we are on track to meet our growth targets for 2023,” Nota continued.
+++ 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.”
Why invest in BMW?
FIRST-CLASS INDIVIDUAL MOBILITY – We play a pioneering role in setting standards for the individual premium mobility of tomorrow. It combines pleasure and responsibility without compromise.
SUSTAINABILITY – The BMW Group is a holistically sustainable company taking responsibility for sustainable future mobility. Every investment in BMW is a sustainable investment.
INNOVATION & FLEXIBILITY – The BMW Group is an innovation pioneer in the automotive industry. Our business model is based on constant transformation and flexibility – successful for over 100 years.
ELECTRIFICATION – Due to our flexibility and permanently transformed plants, we will have a convincing battery-electric vehicle offer covering 90% of our current market segments from 2023.
DIGITALIZATION – We set standards in the digitalization and connectivity of our vehicles and use our competitive edge in remote software upgrades.
FINANCIAL PERFORMANCE – We offer financial stability due to our strong balance sheet and industry-leading credit ratings. We set ambitious profitability and cash flow targets and are a reliable dividend payer.
BMW Group Sales Distribution as of 31.12.2022.
AUTOMOTIVE DELIVERIES BMW GROUP.
BMW, MINI & ROLLS-ROYCE.
Retail sales as of 31.12.2022
EBIT MARGIN AUTOMOTIVE SEGMENT.
EBIT automotive segment 2,162 mn. €
EBIT automotive segment 9,870 mn. €
EBIT automotive segment 10,635 mn. €
9 - 10.5%
CAPITAL EXPENDITURE RATIO.
Capital expenditure 5,650 mn. €
Capital expenditure 3,922 mn. €
Capital expenditure 5,012 mn. €
Capital expenditure 7,791 mn. €
RESEARCH & DEVELOPMENT RATIO (HGB).
Research and development expenditure (HGB) 6,419 mn. €
Research and development expenditure (HGB) 6,279 mn. €
Research and development expenditure (HGB) 6,870 mn. €
Research and development expenditure (HGB) 7,178 mn. €
DIVIDEND FOR THE FINANCIAL YEARS 2019 - 2022.
CO2 EMISSIONS New car fleet Europe.
* To improve year-on- year comparability, the 2020 NEDC figures were converted to WLTP after adjusting for permissible flexibilities – specifically from 99 g CO2 / km according to NEDC (including 5 g CO2 / km phase-in, 7.5 g CO2 / km supercredits and 2.4 g CO2 / km eco-innovations) to 135 g CO2 / km according to WLTP (excluding flexibilities). In 2020, a phase-in regulation was accepted, as was the recognition of supercredits. As of 2021, these two simplifications no longer apply for the BMW Group.
OUTLOOK FOR THE BMW GROUP IN 2023.
- Profit before tax: significant decrease
- Workforce size at year-end: slight increase
- Share of women in management positions in the BMW Group: slight increase
- Deliveries to customers: significant increase
- EBIT margin: between 8 and 10%
- Return on capital employed: between 21 and 26%
- Deliveries to customers: solid increase
- Share of all-electric vehicles in total deliveries: significant increase
- CO2 emissions new vehicle fleet EU: slight decrease
- CO2 emissions per vehicle produced: slight decrease
- EBIT margin: between 9-10.5%
- Return on capital employed: between 18-22%
FINANCIAL SERVICES SEGMENT.
- Return on equity (RoE): between 16 and 19%
The outlook does not factor in the following:
- a deep recession in the BMW Group’s key sales markets
- a further escalation of the conflict between Russia and Ukraine, combined with an expansion of the war
- an exacerbation of the pandemic situation in China and the resulting impact on the economic environment