
The BMW Group achieved its revised sales and financial performance targets in the 2024 financial year.
Deliveries declined slightly compared to the previous year. This was partially due to the temporary delivery stops related to the supplied Integrated Brake System (IBS). Reduced demand in China also had a negative impact on sales volumes. The EBIT margin in the Automotive segment reached just 6.3%, which was short of our strategic target range of 8 to 10%. However, we did meet the revised corridor of 6 to 7% which we announced on 10 September 2024. We remain committed to our long-term target range of 8 to 10%.
We will continue to make strategic investments to secure the future of our Company. As planned, both investments and research and development expenditure reached peak levels in 2024. Despite the high level of investment, we generated a free cash flow of nearly € 5 billion for the year as a whole – an impressive testament to the BMW Group’s financial strength.
The BMW Group remains focused on profitability and long-term growth. This will be the foundation for future projects like the NEUE KLASSE, which have a vital role to play in ensuring the BMW Group’s continued success.
Starting in 2025, we will also be significantly reducing both costs and investments from the peak levels of 2024.
I hope you enjoy reading the online version of the BMW Group Report 2024. Be inspired by the stories and discover what makes the BMW Group truly unique.
Happy reading.
Walter Mertl
Member of the Board of Management of BMW AG, Finance
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