Investor Relations

Investor Relations.

+++ Zipse: “Implementing strategy consistently and successfully” +++ Group EBT margin of 11.0% for the full year +++ Automotive EBIT margin at 9.8% in 2023 +++ Percentage of BEV deliveries of 15% in 2023, as forecast +++ EU fleet CO2 emissions at 102.1 g/km (WLTP) ‒ well below 128.5 g/km limit +++ Dividend of € 6.00 per share of common stock proposed +++

 

Munich. The BMW Group achieved its business objectives for financial year 2023, as forecasted. Despite strong competition and volatile conditions, the company successfully maintained its profitable growth and defended its leading position in the global premium segment: A total of 2,554,183 premium vehicles were delivered to customers in the year to the end of December (2022: 2,399,632 units / +6.4%) ‒ including 717,620 units in the fourth quarter (Q4 2022: 651,794 units / +10.1%). Deliveries for the full year had a solid increase, resulting in a market share of 3.3%.

High demand for its products was the driver for the BMW Group’s continuing strong financial performance: The Group EBT margin came in at 11.0% (2022: 16.5%; Q4: 8.6%; Q4 2022: 8.2%), above the strategic target of 10%. The EBIT margin in the Automotive Segment of 9.8% (2022: 8.6%; Q4: 8.5%; Q4 2022: 8.5%) was within the forecast target range of 9.0-10.5%.

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+++ BMW Group sales reach new all-time high of 2,555,341 units in 2023 (+6.5%) +++ BMW Group BEV sales at 15%, with growth across all sales regions worldwide +++ BMW brand once again tops global premium segment in 2023; electric models see significant growth (+92.2%) +++ Rolls-Royce and Motorrad brands also report new highs +++ Jochen Goller: “Record sales for 2023 show desirability of our strong brands. Customers worldwide value our highly attractive product offering – across all drive technologies.” +++

 

Munich. The BMW Group delivered a total of 2,555,341 BMW, MINI and Rolls-Royce vehicles to customers last year (+6.5%) – a new all-time sales high for the company. The BMW, Rolls-Royce and BMW Motorrad brands also reported new record highs in 2023. In the fourth quarter, BMW Group sales climbed to 718,778 units, up +10.3% on the previous year.

“Thanks to close co-operation with our retail partners and driven by the strong performance of our associates, the BMW Group was able to achieve a new all-time sales high for 2023. Customers around the world appreciate our strong brands BMW, MINI, Motorrad and Rolls-Royce and in particular the choice of different drive technologies across the entire BMW Group product range“, said Jochen Goller, member of the Board of Management of BMW AG, responsible for Customer, Brands, Sales. “With our new, highly attractive and technologically outstanding vehicles, we were able to ramp up electromobility even more dynamically in 2023 and achieve the goal of 15% of total sales from fully-electric vehicles”, Goller continued.

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+++ 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.

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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 31.12.2023.

(PER ORDINARY STOCK IN €)

DIVIDEND FOR THE FINANCIAL YEARS 2020 - 2023.

EU-27 countries including Norway and Iceland; with effect from 2021, values are calculated on a converted basis in line with WLTP (Worldwide Harmonised Light Vehicles Test Procedure). Values from 2017 to 2020 according to New European Driving Cycle (NEDC).

CO2 EMISSIONS New car fleet Europe.

*Proposed dividend.
** 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.

MANAGEMENT SUMMARY.
OUTLOOK FOR THE BMW GROUP IN 2023.

BMW Group.

  • Profit before tax: significant decrease
  • Workforce size at year-end: slight increase
  • Share of women in management positions in the BMW Group: slight increase

MOTORCYCLES SEGMENT.

  • Deliveries to customers: significant increase
  • EBIT margin: between 8 and 10%
  • Return on capital employed: between 21 and 26%

AUTOMOTIVE SEGMENT.

  • 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
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Due diligence in the supply chain.

To support our supply chain due diligence, we set mandatory sustainability standards for our suppliers.