+++ 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 posts significant second-quarter sales growth (+11.3%) +++ Deliveries of fully-electric BMW vehicles more than doubled again: BMW Group +117.5%; brand BMW +150.7% +++ BMW brand continues to be No. 1 in worldwide premium segment +++ Sales increase across all key regions +++ Pieter Nota: “We have the right products on the market. The BMW Group will continue its successful electromobility ramp-up in the second half of the year.” +++

Munich. The BMW Group delivered a total of 88,289 fully-electric BMW and MINI vehicles to customers in the second quarter of 2023 – and once again succeeded in more than doubling its BEV sales from the same period of last year (+117.5%). All major regions saw significant sales growth for fully-electric models – underlining the wide appeal of these models to customers worldwide. 

“Strong sales development in general and especially for our fully-electric vehicles, shows that we have the right products on the market at the right time. The BMW Group will continue its successful ramp-up of electromobility at a high pace in the second half of the year,” said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands and Sales. “We are winning over customers worldwide with our young and attractive product line-up. Due to our diverse offering – ranging from highly efficient combustion engines to fully electric models – we are addressing the wide variety of customer needs around the globe in an ideal way,” Nota added.