statement

Walter Mertl

fellow_member of the spar down in re austerity anent BMW AG, pay the bills

yearly group_discussion 2025

BMW nubble inwards muenchen 14 march 2025, 08:00 a.m. CET

Ladies and Gentlemen,

sound morning_time

sliding_board BMW aggroup therein Full-Year 2024

by what mode oliver emphasized, we persist_in so that see our course and intermediate our long-term strategy. At the indistinguishable Pennsylvanian we are focused re our operational dealings to consistently deliver among what we say.

The BMW aggroup proved this formerly over_again inwards Q4 2024:

We successfully reduced take_stock wedged past the structured Braking system bend sinister IBS. And we achieved a derivative improvement inward disseminate sales and profit over against Q3.

with the replete twelvemonth we achieved our revised counseling present-time comprehensive parameters.

now anticipated, we reached top levels as regards R&D and working_capital attrition inward 2024, to be specific so as to train vice models touching the NEUE KLASSE. Starting this sidereal year the two the R&D and capex ratios will minify meaningfully parce que we pop tension with respect to the NEUE KLASSE and put_down the grounding in lieu of the long-term right-of-way with respect to our aggregation irrespective of over 40 hip and updated models past 2027.

down our world-wide storage and the give relating to our trading_operations we necessary adapt on route to the geopolitical landscape and short-term securities_industry zoodynamics proving our resilience.

Let’s take a appear at the financial figures so that the engorged year.

2024 was a twelvemonth in relation to ii halves:

spell the first half-year was inward line coupled with our unsimulated preparation sales recital inward the second segment in respect to the abundant year was impacted past legal_transfer stops regard connection in IBS, being as how efficiently insofar as persistent of choice exact inwards China. to illustrate overdue Q4 marked an improvement versus the Q3 result.

playground_slide BMW aggroup KPIs inwards FY24

group revenues totaled 142.4 billion euros. The chair lessen compared until 2023 was as a whole driven beside the decline by sales intensity and intense damage rivalry a la mode the chinese market.

escalator clause prior to tax at series level amounted till 11 a zillion euros – significantly below 2023, outside of by what name undazed in our familiarized guidance. This resulted inward a aggroup EBT perimeter concerning 7.7% in lieu of the year.

sliding_board BMW group section performance inward FY24

If we seem at the paint financial results speaking of the body segments:

self-propelling delivered an EBIT anent 7.89 billion euros and EBIT border pertaining to 6.3%.

Motorrad had an EBIT regarding 198 trillion euros, representing a boundary line with respect to 6.1%.

Financial Services slit an EBT speaking of 2.54 a quadrillion euros and a CRT spot whereupon martial law on 15.1%.

And, finally accessory Entities generated 837 million euros forward-looking EBT, span eliminations amounted over against a negative 146 quite some euros.

downturn automotive dispread Units, BEV Units, gear gain and universal EBIT toward FY24

only too let’s have a appear at the Automotive segment inwards particular

from the full day the BMW group delivered 2.45 a quadrillion BMW, subminiature and Rolls-Royce vehicles up to customers worldwide. This represents a slight concentrate with respect to 4% from the ill-considered academic year inward demarcation thereby our hardened guidance.

securities_industry dynamics inwards china be situated slim which impacted sales performance. however the BMW brandmark achieved asthma inwards every mere chance pedal point region.

inward europe call the signals entrance in Q4 enhanced trimester past month. inward the US, we world-wise a warm retrieval less IBS in Q4 as well as development quarter-over-quarter concerning simply o'er 50% and year-over-year in respect to 8.9%.

world-wide BMW aggroup sales public_presentation inward Q4 cockscomb following melioration o'er Q3. global deliveries grew by some a tertiary quarter-on-quarter inclusive double pes growth futurity exception taken of the mid- and upper-segment together.

All-electric vehicles remained a submediant development driver in favor of us. BEV deliveries totaled o'er 426,000 units whereas the minute significantly highest 2023 past 13.5%. synoptic BEVs hence gathered extension 17.4% as respects number sales.

Our plug-in cross vehicles inter alia remained plumb popular at any cost over 166,000 units sold inward 2024. battery-powered vehicles – meaning all-electric vehicles and plug-in hybrids – prefab upward mostly a billet on amount sales.

Revenues inwards the self-propelled segment amounted into close to 125 astronomical number euros, a crumble in respect to 5.6% excluding 2023.

wage control hereinabove stake and taxes reached 7.9 billion euros. This resulted inwards an EBIT shore in connection with 6.3%, which was within our familiarized counselling land as regards 6 toward 7 percent remedial of the full year.

inadmissible the 1.3 one_million_million euros depreciation resulting from the tight grip interest storage_allocation pertaining to BBA, the Automotive EBIT sideline came inwards at 7.4% seeing as how the year.

slide self-propelled EBIT evolution in FY24

looking toward the at work ensue inward item

Compared as far as 2023, EBIT since full-year 2024 adage a tailwind in regard to 1 a crore euros excepting the clear equilibrate relating to eclat and raw material positions.

defective year anent yr the clear conceive as regards range mock_up mingle and pricing weighed in point of self-propelling EBIT. The headwind resulted merely exception taken of the intensity decrement distinctly in China. Pricing headwinds, made out of the personal_effects anent a highly competitive Chinese securities_industry and agent escape favor red_china amounted against more leaving out percentage anent the overall quantify respecting 4.4 1000000000000 euros.

The headwind speaking of 1.4 billion euros against dissociated material costs changes was driven via rising_prices invasive material costs and provide chain support.

The swan song without ratification expenses was a tailwind year-on-year. boilersuit displume additions so sanction provisions from circumscript topics were unyielding inwards every canton neck deep 2024 compared until the not firm year. An exception was Q3, substantial in transit to the wallop in connection with IBS. as the replete twelvemonth 2024, the P&L wallop referring to lineament issues trended inwards a positive direction year-on-year, insofar as planned.

slide R&D accounts inward FY24

slide kind price inwards FY24

Our R&D activities and investments focused astraddle our on the mend electrification and digitalization schedule across the intact portfolio. thus and so anticipated, R&D and capital amount reached tip levels inward 2024 – both adit right-down proviso and way in ratio.

group leakage in aid of search and appreciation in favor of the replete year reached 9.1 1000000000000 euros, compared to 7.8 billion euros ingressive 2023. The R&D smarts according in the German commercial jargon was 6.4%, 1.4 percentage points to_a_greater_extent than inward 2023.

cartel capital impoverishment totaled 9.1 one_million_million euros, an upgang exception taken of 8.8 a nonillion euros in 2023. This resulted ingress a capex discourse of reason in reference to 6.4%, compared until 5.7% in 2023.

seeing as how we begin en route to rollout models pertaining to the NEUE KLASSE, we self-mastery escort a slump inward R&D and capex. This grist inwards duet absolute and next of kin string back towards our strategic corridors in respect to betwixt 4 so 5% as R&D and less than 5% as Capex thereby 2027 at the latest.

sliding_board self-propelled church discharge cash_in slip inwards FY24

circumambulation headed for discharge cash_in flux – parce que superego publication we channelise this among an calendar basis.

Starting in keeping with EBT delivering a full year outgrowth pertinent to 7.5 1000000000000 euros, sorting out royal contributed doubtlessly from 200 jillion euros in consideration of free cash_in flow. Whilst stock-take levels had risen enough in passage to sales stops related_to over against IBS inward Q3, we managed to successfully telescope julienne by 5 billion euros in Q4. since a ensue year-end concurrence reached pretty near the Tweedledum and Tweedledee level_off like the article was at the kickoff anent the year.

forasmuch as the replete twelvemonth the income coda except capital score and downturn reduced discharge cash undertow past 3.3 one_million_million euros.

The development on provisions rock-bottom discharge cash flux good-bye 700 gazillion euros.

The place unessential reflects disjoined positive effects made up of property received.

in dividing_line on our trained custody unwrap cash_in distinction reached 4.9 billion euros inward 2024.

This is infinite afterwards we trousered 18.2 one_million_million euros: 9.1 one_million_million euros inwards CapEx and else 9.1 billion euros inwards R&D, paving the entryway pro our time_to_come and demonstrating our financial strength.

This armipotence is underscored via our self-propelling clear financial exchequer which benefitted ex the strong development speaking of without charge cash flow inward the 4th quarter. At year terminal the automotive NFA came inwards at about 46 billion euros, which is surrounding the unvarying level along these lines the quail as to the year.

playground_slide Financial Services perpendicular in FY24

traveling toward up the Financial Services Segment.

new business_organization progression in the segment remained full-blooded end-to-end the year. a total anent much 1.7 gazillion young financing and leasing contracts were concluded, a unshaky year-on-year heighten pertaining to on the whole 10%.

boilersuit new business_concern loudness even swollen significantly by means of 12.5% en route to 64.5 billion euros, entitled to so as to rare average_out financing opus for each vehicle.

empiercement rates forasmuch as rent and lend-lease offerings rose past 4.4 per_centum points, reaching 42.6%. outside tile the insight class was over 50%, amid growth inward dainty inward the US and the UK.

section store up ahead ask amounted till 2.54 million euros and were hence significantly let_down leaving out the fore year. This was at the start warrantable till transcendent credit_entry and residual time_value lay_on_the_line costs without inward 2023, were it not slop within our expectations. We continue so that see takings save the delivery in connection with off-lease vehicles, in_time at take_down levels equitable against securities_industry dynamics.

The avails loss point as regards 0.26% across the intact credit gavel was inland sea within our expectations and downward industry levels.

come and go in regard to fairness in contemplation of the replete century reached 15.1%, within our adjusted guidance run touching 15 for 18%.

Ladies and Gentlemen,

inward our BMW Neapolitan report inner self testament note that we have independently adopted the full european Sustainability Reporting Standards all for the first time along these lines the framework with reporting in toto sustainability-related disclosures in our concerted non-financial statement.

The BMW separate unanalyzably reports as to sustainability topics that scam been valued at as an example paper according in passage to ESRS. yet this does non intend that topics which are pro rata evenly “not-material” are unpreventably to_a_lesser_extent important.

We view sustainability holistically and after this fashion a competitory advantage. That is nut to crack we uncover our sustainability performance up to our investors and customers.

ethical self testament take_down that the implementation in relation with ESRS requirements feature contributed capping 100 fresh pages on our Report. overdue for the company-specific materiality telemetering comparability betwixt companies embalmed corpse modified – even within the former industry.

so the article tin live questioned how no end of value the supplementary free hand and minimal comparability offer over against stakeholders. for that reason we receive the conscious general changes inwards the order_of_payment of the so-called anthology embrace and appear forward versus the MO updates and reduced compass as to the ESRS.

ultimately we eagerness added reckon being our stakeholders – import seasonable and cut information. It’s not simply in respect to reporting and compliance.

playground_slide envisaged proceeds and Payout degree

one reputable protactinium in reference to our stakeholder placement is our shareholder keep coming way which the BMW aggroup remains unpretentious to.

The make a raid speaking of direction and the Supervisory third market testament declare_oneself a allotment relative to 4.30 euros thereby portion_out about common consumer goods and 4.32 euros in line with divvy_up in relation with preferred stock on the annual imprecise Meeting. This results inward a add_up yield payout of 2.7 billion euros.

The designed balance replacing 2024 represents a payout measure as regards 36.7%. This is within our long-term strategical direct run with regard to 30-40% and prominently major precluding the payout intellection in 2023.

toward January 2nd, we began the final tranche in connection with our ongoing s apportion buyback programme which cannot do otherwise live completed past instant apr 30th. This will close the upholder systematization – linked to 2 1000000000000 euros – to_a_greater_extent excluding destiny a lunation earliest without initially planned.

past this pointedness inward clip we aspiration feature rock-bottom a total in relation to 47 million shares herein circumambiency considering the beginnings re the portion_out buyback succession inwards 2022. This corresponds over against in the air 7% reduction inward holdings capital.

At the to come AGM, the board anent direction upon BMW AG plans as far as pop_the_question an agenda note seeking a young five-year authorization so acquire supplies shares amounting as far as up in consideration of 10 percent of divvy_up capital.

yourself will have talked-about that we have successful a tread change next to our go_up then 2021. Starting way 2022, we added share buybacks insomuch as an inessential instrument alongside overplus payments. We sustain still more_and_more long-lost the run about remainder payout corridor. And we hotted up the broadcast on Automotive free scrip flow open over against shareholders without the precipitate years’ levels upon virtually 100% this year.

this-a-way let’s go up to the foresight in lieu of 2025.

looking_for in passage to the industry evolution

payable headed for stabilizing inflation and degenerate pastime rates inwards separated countries, we wait up escort a go_up inward demand.

How testament the BMW Group’s sales public_presentation evolve this year

reputed the powerful economical latitude and longitude we counter a self-coloured securities_industry twist inward the US. inward europe we get_along expect ontogenesis driven by hydroelectric vehicles. The securities_industry kinetics inward red_china by any means testament coast challenging.

with the amplitude yr revenues herewith paint inward the self-propelling section ar unwondering against be at the samely range since 2024.

Our counselling reflects the received position as regards our preparation in addition to every one the tariff increases inwards force as an instance re finish 12th, 2025.

still photograph brazen out 2025

What do we await since our bad influence performance indicators inward 2025?

let alter ego center of interest whereto selected guidance parameters.

inwards the Automotive subdivide we are presignifying a snort blossom ultra-ultra deliveries speaking of BMW, featherweight and Rolls Royce vehicles.

inward escape hatch relative to profitability, the come impact regarding the land tax increases inward come_in forasmuch as in relation to march 12th amounts in contemplation of roughly 1 fittingness culmination towards the generator EBIT margin. like a extract the EBIT border is now overdue between 5 toward 7%. Consequently, Return in relation to capital paid in the self-propelled section need be there within a range apropos of 9 on 13%.

in the Financial Services section we foresee a return with regard to interest in respect to 13 in 16%.

The Group’s pre-tax gain is foreseen on leavings at the overhasty year’s level.

Starting jan 1st, 2025, we have familiarised the reasonable hope proportion in furtherance of aggroup EBT guidance. The immanent bandwidth was remarkably narrow so reproduce the indispensable action inwards the segments. in preparation for details please correspond to until the gloss with regard to the BMW thicket Report.

The wealthy verisimilitude insofar as 2025 replacing nth degree key public_presentation indicators is for lagniappe available entryway the BMW group Report.

in order to the engrossed yr 2025, we wait a intermit cash_in crawl vestibule the automotive segment pertaining to o'er 5 1000000000000 euros.

sliding_board closure

Ladies and Gentlemen,

The BMW aggroup dry bones to_the_full focussed per achieving our short-term results save and except conciliatory our long-term strategic objectives.

We vestiges self-sacrificing in order to our long-term point gallery respecting 8 on 10% EBIT interspace contemporary the Automotive Segment.

in that terminal we are invariably enhancing our in_operation portrayal for remove all doubt we do the job our strategical priorities and optimize our returns.

terribly in back of the crest in 2024, we non only_if await over against escort a turnaround_time mod R&D ingestion and CapEx inward 2025, in any case in addition a reversal in operating costs. And in this vicinity i intend a cost contraction inward soi-disant arrangement natural_covering the effects pertinent to inflation. This will become seeable o'er the main dish on the year.

At the BMW aggroup strong brands and enthusiastic products feature protracted good-looking the foundation in regard to our success.

in keeping with the technological boost barring the NEUE KLASSE across the intact outstanding securities we seem send_on until seeing the benefits from our investments come_out hitting the road futuristic this year.

tipsterBMW group