2024 年 8 月 1 日
宝马品牌上半年销量增长 2.3% – 高价位车型实现两位数增长 ++ 宝马纯电动车 (BEV) 交付量在上半年增长 34%，超过 179,500 辆 ++ 超额完成盈利目标：上半年集团息税前利润率达 10.9% ++ 上半年汽车息税前利润率达 8.6% ++ 金融服务：新业务实现显着增长 ++ Zipse：“过去十个季度在目标区间实现高盈利” ++ 确认 2024 年前景
慕尼黑。在充满挑战的环境中，宝马集团证明了其强大的韧性，并在 2024 年上半年确认了全年业绩预期：得益于其丰富而有吸引力的产品系列，交付量与上年持平，该公司上半年汽车部门的息税前利润率为8.6 %（第二季度： 8.4% ）。不计与 BBA 相关的购买价格分配折旧，宝马集团汽车部门的息税前利润率为9.6%（第二季度： 9.4%）。凭借持续的高投资水平，宝马集团还继续增强其创新能力并丰富其未来车型阵容。
上半年的销售成功主要得益于纯电动汽车 (BEV) 和价格较高的宝马和宝马 M 车型，这两款车型均实现了两位数的增长。宝马、MINI 和劳斯莱斯品牌的BEV 交付量增长了 24.6%，达到 190,614 辆纯电动汽车。宝马品牌在全球排名第三，交付了近 180,000 辆 BEV。总体而言，该公司在 1 月至 6 月期间向所有宝马集团品牌的客户交付了1,213,276 辆汽车，从而达到了与上一年相同的高水平（2023 年：-0.1%；第二季度：618,743 辆；-1.3%）。
集团息税前利润率为10.9%（第二季度： 10.5%）， 超过了公司 10% 的战略目标。
“我们的目标始终是：BMW 要在竞争中脱颖而出，尤其是在逆风中。前六个月的表现证实了这一点：在上半年充满挑战的条件下，我们凭借电动增长在直接竞争环境中保持领先地位，同时，我们连续 10 个季度在全年目标范围内实现了高盈利，” 宝马集团董事会主席奥利弗·齐普策 (Oliver Zipse)周四在慕尼黑表示。“凭借这种高度的韧性，当整个行业都必须渡过难关时，我们能够持续投资于未来。通过这种方式，我们仍明确朝着未来最大的项目 NEUE KLASSE 的方向前进，从明年开始，我们将通过该项目将 BMW 提升到一个全新的技术水平。”
宝马集团继续致力于增强创新实力
在艰难的经济环境下，宝马集团继续推进 NEUE KLASSE 计划以及其产品组合和全球设施的电气化和数字化。如前所述，研发支出大幅增加，达到 41.69 亿欧元（2023 年：33.96 亿欧元/+22.8% ）。研发比率（根据德国商法典）上升至 5.7%（2023 年：4.6%）。宝马集团预计全年研发支出将达到峰值，研发比率将超过 5.0%。
制造和人员成本以及 IT 项目成本的增加都影响了集团收益。
集团前六个月的税前利润（EBT）总计80.23 亿欧元（2023 年：93.51 亿欧元；-14.2%；第二季度：38.61 亿欧元；-8.6%）。在此期间，宝马集团实现净利润56.56 亿欧元（2023 年：66.2 亿欧元； -14.6%；第二季度：270.5 万欧元；-8.6%）。
股票回购继续按计划进行
继 2022 年 5 月 11 日宝马集团年度股东大会批准后，该公司继续收购库存股。截至 2024 年 6 月 30 日，宝马集团持有 11,056,731 股库存股，面值为 11,056,731 欧元。截至 2024 年 6 月 30 日，宝马集团共收购了占股本 5.51% 的股份。
汽车部门产品结构改善
高销量和积极的产品组合效应推动汽车部门上半年收入增至630.09 亿欧元（2023 年：628.98 亿欧元； +0.2%； 调整后货币换算效应： +1.8%；第二季度：320.7 亿欧元； +1.4%；调整后货币换算效应：+2.1%）。尤其是在中国，收入受到竞争加剧和消费者信心减弱的影响。
该部门的息税前利润在六个月后 为53.94 亿欧元（2023 年：66.75 亿欧元， -19.2%），而第二季度的息税前利润同比略有下降，为26.84 亿欧元（2023 年第二季度：28.98 亿欧元；-7.4%）。部门收益受到制造和固定成本增加以及计划增加的研发支出的影响。
汽车部门大力投资未来
资本支出增加尤其影响了汽车部门的自由现金流。1月至 6 月期间，资本支出为 22.89 亿欧元 （2023 年：31.41 亿欧元/-37.2% ） 。无形资产和物业、厂房及设备的总投资为49.71 亿欧元（2023 年：39.11 亿欧元/+27.1%）—— 比去年上半年增加了约 10 亿欧元，从而影响了自由现金流。
尽管资本支出水平达到峰值，宝马集团仍设定了全年自由现金流超过 60 亿欧元的目标。
“宝马集团立志成为创新的领导者。如今，我们比以往任何时候都投入更多，尤其是在 NEUE KLASSE 的车辆和创新技术方面。我们正在推进工厂的数字化和电气化，并为我们的运营业务引入更高效的流程。公司的未来已经开始 – 我们正在一步步实施，”负责财务的董事会成员 Walter Mertl表示。“我们正在保持盈利增长的势头，系统地管理成本，并通过数字化和人工智能应用提高效率。”
截至 6 月 30 日，汽车部门净金融资产为 432 亿欧元
从本期半年报开始，宝马集团报告的汽车净金融资产范围更加广泛：除了汽车部门的净金融资产外，现在还包括其他公司部门内从子公司获得分红的控股公司的净金融资产。由于纳入了控股公司的净金融资产，这些集团内部分红将继续作为净金融资产报告。截至 6 月 30 日，汽车净金融资产为432.08 亿欧元（见半年报第 16 页）。
金融服务板块实现大幅增长
在金融服务板块，今年上半年新信贷融资和租赁合同数量大幅增加至849,908 份（+16.5%）。该板块新业务量大幅增加至316.77 亿欧元 （2023 年：267.97 亿欧元； +18.2%）。渗透率上升 至41.2%（2023 年：37.5%；+3.7 个百分点）。
前六个月，该部门的税前收益 (EBT)为14.81 亿欧元 （2023 年：17.04 亿欧元/-13.1% ）。主要的抑制因素来自全球二手车市场的正常化，导致租赁期满车辆转售收入下降。报告期内，整个贷款组合的信用损失率保持在 0.25% （2023 年：0.15%）。
宝马集团确认业绩指引
鉴于其极具吸引力的高端车型持续受到市场青睐，宝马集团得以确认其全年业绩指引。宝马集团预计全年全球客户交付量将略有增长。在中国，该公司预计经济形势将在第三季度开始稳定。新款宝马 5 系和 MINI 家族的当前增长势头也有望在 2024 年下半年在全球范围内带来积极势头。
由于制造和固定成本（尤其是人员成本和研发支出）高于上年，预计 集团全年税前利润将略有下降。全球二手车市场价格预计将下降，这也可能是造成这一结果的原因。在汽车部门，预计全年息税前利润率将在8-10%之间。
摩托车部门的交付量预计略有增加 ，息税前利润率将在8-10%的目标范围 内。由于目前业务发展有所改善，金融服务部门的 股本回报率目前预计在15-18% 的范围内。这些目标将通过略微增加员工人数来实现 。
本指引假设地缘政治和宏观经济状况不会恶化。鉴于现有风险和机遇存在诸多不确定性，宝马集团的实际经营业绩可能与当前预测存在偏差。
宝马集团——概览： 2020 年 第二季度 |
2024 年第二季度 | 2023 年第二季度 | 在某一方面的变化 ％ | ||||
| 发货给客户 | |||||||
| 汽车1 | 单位 | 618,743 | 626,726 | -1.3 | |||
| 其中：宝马 | 单位 | 565,490 | 553,369 | 2.2 | |||
| 小型的 | 单位 | 51,959 | 71,816 | -27.6 | |||
| 劳斯莱斯 | 单位 | 1,294 | 1,541 | -16.0 | |||
| 摩托车 | 单位 | 66,638 | 64,936 | 2.6 | |||
| 员工人数（截至 2023 年 12 月 31 日） | 154,950 | ||||||
| 息税前利润率 汽车部门 | 百分 | 8.4% | 9.2％ | -0.8%点 | |||
| 摩托车部门息税前利润率 | 百分 | 11.1％ | 16.0％ | -4.9%点 | |||
| 宝马集团2 的息税前利润率 | 百分 | 10.5％ | 11.3% | -0.8%点 | |||
| 收入 | 百万欧元 | 36,944 | 37,219 | -0.7 | |||
| 其中：汽车 | 百万欧元 | 32,070 | 31,630 | 1.4 | |||
| 摩托车 | 百万欧元 | 989 | 988 | 0.1 | |||
| 金融服务 | 百万欧元 | 9,742 | 8,795 | 10.8 | |||
| 其他实体 | 百万欧元 | 3 | 3 | 0.0 | |||
| 淘汰 | 百万欧元 | -5,860 | -4,197 | 39.6 | |||
| 财务业绩前利润（EBIT） | 百万欧元 | 3,877 | 4,343 | -10.7 | |||
| 其中：汽车 | 百万欧元 | 2,684 | 2,898 | -7.4 | |||
| 摩托车 | 百万欧元 | 110 | 158 | -30.4 | |||
| 金融服务 | 百万欧元 | 725 | 751 | -3.5 | |||
| 其他实体 | 百万欧元 | -8 | -1 | – | |||
| 淘汰 | 百万欧元 | 366 | 537 | -31.8 | |||
| 税前利润（EBT） | 百万欧元 | 3,861 | 4,222 | -8.6 | |||
| 其中：汽车 | 百万欧元 | 2,627 | 2,740 | -4.1 | |||
| 摩托车 | 百万欧元 | 110 | 159 | -30.8 | |||
| 金融服务 | 百万欧元 | 751 | 759 | -1.1 | |||
| 其他实体 | 百万欧元 | 295 | 245 | 20.4 | |||
| 淘汰 | 百万欧元 | 78 | 319 | -75.5 | |||
| 集团所得税 | 百万欧元 | -1,156 | -1,264 | -8.5 | |||
| 净利 | 百万欧元 | 2,705 | 2,958 | -8.6 | |||
| 每股普通股收益 | € | 4.15 | 4.39 | -5.5 | |||
| 优先股每股收益3 | € | 4.16 | 4.40 | -5.5 | |||
| 1交付量包括合资公司华晨宝马汽车有限公司、沈阳 | |||||||
| 2集团税前利润与集团收入的比率。 | |||||||
| 3普通股/优先股。优先股每股收益的计算方法是，将支付每股 0.02 欧元额外股息所需的收益按相应财政年度的季度比例分配。 | |||||||
| 宝马集团——概览： 2024 年第二季度迄今 |
2024 年第二季度迄今 | 2023 年第二季度迄今 | 在某一方面的变化 ％ | ||||
| 发货给客户 | |||||||
| 汽车1 | 单位 | 1,213,276 | 1,214,864 | -0.1 | |||
| 其中：宝马 | 单位 | 1,096,423 | 1,071,326 | 2.3 | |||
| 小型的 | 单位 | 114,034 | 140,357 | -18.8 | |||
| 劳斯莱斯 | 单位 | 2,819 | 3,181 | -11.4 | |||
| 摩托车 | 单位 | 113,072 | 112,871 | 0.2 | |||
| 员工人数（截至 2023 年 12 月 31 日） | 154,950 | ||||||
| 息税前利润率 汽车部门 | 百分 | 8.6% | 10.6％ | -2%点 | |||
| 摩托车部门息税前利润率 | 百分 | 11.6％ | 10.6％ | +1%点 | |||
| 宝马集团2 的息税前利润率 | 百分 | 10.9％ | 12.6％ | -1.7%点 | |||
| 收入 | 百万欧元 | 73,558 | 74,072 | -0.7 | |||
| 其中：汽车 | 百万欧元 | 63,009 | 62,898 | 0.2 | |||
| 摩托车 | 百万欧元 | 1,861 | 1,921 | -3.1 | |||
| 金融服务 | 百万欧元 | 19,267 | 17,621 | 9.3 | |||
| 其他实体 | 百万欧元 | 7 | 6 | 16.7 | |||
| 淘汰 | 百万欧元 | -10,586 | -8,374 | 26.4 | |||
| 财务业绩前利润（EBIT） | 百万欧元 | 7,931 | 9,718 | -18.4 | |||
| 其中：汽车 | 百万欧元 | 5,394 | 6,675 | -19.2 | |||
| 摩托车 | 百万欧元 | 216 | 312 | -30.8 | |||
| 金融服务 | 百万欧元 | 1,439 | 1,709 | -15.8 | |||
| 其他实体 | 百万欧元 | -13 | -5 | – | |||
| 淘汰 | 百万欧元 | 895 | 1,027 | -12.9 | |||
| 税前利润（EBT） | 百万欧元 | 8,023 | 9,351 | -14.2 | |||
| 其中：汽车 | 百万欧元 | 5,330 | 6,568 | -18.8 | |||
| 摩托车 | 百万欧元 | 216 | 313 | -31.0 | |||
| 金融服务 | 百万欧元 | 1,481 | 1,704 | -13.1 | |||
| 其他实体 | 百万欧元 | 696 | 117 | – | |||
| 淘汰 | 百万欧元 | 300 | 649 | -53.8 | |||
| 集团所得税 | 百万欧元 | -2,367 | -2,731 | -13.3 | |||
| 净利 | 百万欧元 | 5,656 | 6,620 | -14.6 | |||
| 每股普通股收益 | € | 8.57 | 9.70 | -11.6 | |||
| 优先股每股收益3 | € | 8.58 | 9.71 | -11.6 | |||
| 1交付量包括合资公司华晨宝马汽车有限公司、沈阳 | |||||||
| 2集团税前利润与集团收入的比率。 | |||||||
| 3普通股/优先股。优先股每股收益的计算方法是，将支付每股 0.02 欧元额外股息所需的收益按相应财政年度的季度比例分配。 | |||||||
词汇表——关键绩效指标解释性评论
纯电动汽车
电池电动汽车。
发货给客户
新车或二手车在交付给最终用户（也包括与宝马金融服务签订租赁合同的承租人）后即被记录为交付。在美国和加拿大，最终用户还包括 (1) 将车辆指定为服务借用车或展示车的经销商和 (2) 在拍卖会上购买公司车辆的经销商和其他第三方以及直接从宝马集团购买公司车辆的经销商。交付可能由宝马股份公司、其国际子公司之一、宝马集团零售店或独立第三方经销商进行。绝大多数交付（因此向宝马集团报告的交付）是由独立第三方经销商进行的。特定报告期内的零售车辆交付量与宝马集团在该特定报告期确认的收入没有直接关系。
息税前利润
财务结果前利润。财务结果前利润包括收入减去销售成本，减去销售和管理费用，加上/减去净其他营业收入和费用。
息税前利润率
财务结果前的利润/亏损占收入的百分比。
利息及利息收入
EBIT 加上财务结果。
EBT 保证金
利润/亏损占收入的百分比。
插电式混合动力汽车
插电式混合动力电动汽车。
罗塞菲
资本使用回报率 (RoCE)。汽车和摩托车部门的 RoCE 是根据相关部门的财务结果前利润和相关部门过去五个季度末的平均资本使用额来衡量的。资本使用额相当于所有流动和非流动运营资产的总和，减去通常不产生利息的负债。
鱼子
股本回报率 (RoE)。金融服务部门的股本回报率计算方法为部门税前利润除以过去五个季度末归属于金融服务部门的平均股本金额。
宝马集团
宝马集团旗下拥有宝马、MINI、劳斯莱斯和宝马摩托车四个品牌，是全球领先的豪华汽车和摩托车制造商，同时还提供高端金融和移动出行服务。宝马集团生产网络覆盖全球 30 多个生产基地，公司在全球 140 多个国家/地区拥有销售网络。
2023 年，宝马集团在全球销售了超过 255 万辆乘用车和超过 209,000 辆摩托车。2023 财年的税前利润为 171 亿欧元，营收为 1555 亿欧元。截至 2023 年 12 月 31 日，宝马集团拥有 154,950 名员工。
宝马集团的成功始终建立在长远思考和负责任的行动之上。公司很早就确定了未来的发展方向，并始终将可持续性和高效的资源管理作为其战略方向的核心，从供应链到生产，再到所有产品的使用阶段结束。
www.bmwgroup.com
BMW Group continues profitability course in a volatile environment
01.08.2024
BMW brand achieves sales growth of 2.3% in HY1 –double-digit growth for models in upper price segment ++ BMW BEV deliveries climb 34% to over 179,500 units in first half-year ++ Profitability targets exceeded: Group EBT margin of 10.9% for HY1 ++ Automotive EBIT margin at 8.6% in HY1 ++ Financial Services: New business posts significant growth ++ Zipse: “Delivering high profitability in target corridor for past ten quarters” ++ Outlook for 2024 confirmed
Munich. In a challenging environment, the BMW Group proves its high resilience and can confirm its full year guidance, after six months of 2024: Thanks to its extensive range of attractive products, with deliveries on a par with the previous year, the company posted an automotive EBIT Margin at 8.6% (Q2: 8.4%) in the first half of the year. Excluding depreciation from purchase price allocation related to BBA, the BMW Group posted an EBIT margin in the Automotive Segment of 9.6% (Q2: 9.4%). With a consistently high level of investment, the BMW Group also continues to strengthen its innovative power and enhance its future model line-up.
The sales success of the first half-year was largely driven by fully-electric vehicles (BEVs) and higher-priced BMW and BMW M models, which both saw double-digit growth. The BMW, MINI and Rolls-Royce brands reported a 24.6% increase in BEV deliveries to 190,614 fully electric vehicles. The BMW brand is in third place worldwide, with almost 180,000 BEVs delivered. In total, the company delivered 1,213,276 vehicles to customers across all BMW Group brands between January and June, thus reaching the same high level as the previous year (2023: -0.1%; Q2: 618,743 units; -1.3%).
At 10.9% (Q2: 10.5%), the Group EBT margin outperformed the company’s strategic target of 10%.
“Our ambition has always been: BMW sets itself apart from the competition, especially in the face of headwinds. The first six months confirm this: under the challenging conditions in the first half of the year, we are leading within our direct competitive environment with our electric growth – and at the same time, we have delivered high profitability within the full year target corridor for ten consecutive quarters,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, in Munich on Thursday. “With this high degree of resilience, we can consistently invest in our future when the entire industry has to navigate through rough waters. In this way, we remain clearly on course for our largest future project, the NEUE KLASSE, with which we will raise BMW to a completely new technological level as of next year.”
BMW Group remains committed to strengthening its innovative power
In a difficult economic environment, the BMW Group has continued to push forward with the NEUE KLASSE as well as with electrification and digitalisation of its portfolio and its global facilities. As previously announced, research and development spending rose significantly, to € 4,169 million (2023: € 3,396 million/ +22.8%). The R&D ratio (according to the German Commercial Code) increased to 5.7% (2023: 4.6%). For the full year, the BMW Group expects a peak of R&D spending and an R&D ratio above 5.0%.
Higher manufacturing and personnel costs, as well as the cost of IT projects, all impacted Group earnings.
Group earnings before tax (EBT) for the first six months totalled € 8,023 million (2023: € 9,351 million; -14.2%; Q2: € 3,861 million; -8,6%). During this period, the BMW Group recorded a net profit of € 5,656 million (2023: € 6,620 million; -14.6%; Q2: € 2.705 million; -8.6%).
Share repurchase continues as planned
Following the authorisation of the Annual General Meeting of BMW AG on 11 May 2022, the company has continued to acquire treasury shares. As of 30 June 2024, BMW AG holds 11,056,731 treasury shares, with a nominal value of € 11,056,731. In total, BMW AG acquired shares amounting to 5.51% of the share capital as of June 30, 2024.
Automotive Segment with improved product mix
High sales volumes and positive product mix effects lifted Automotive Segment revenues to € 63,009 million in the first six months (2023: € 62,898 million; +0.2%; adjusted for currency translation effects: +1.8%; Q2: € 32,070 million; +1.4%; adjusted for currency translation effects: +2.1%). In China, in particular, revenues were impacted by heightened competition and weaker consumer sentiment.
The segment’s EBIT stood at € 5,394 million after six months (2023: € 6,675 million, -19.2%), while for the second quarter it was down moderately year-on-year at € 2,684 million (Q2 2023: € 2,898 million; -7.4%). Segment earnings were impacted by higher manufacturing and fixed costs, as well as the planned increase in expenditure for research and development.
Automotive Segment invests heavily in the future
Higher capital expenditure in particular impacted the free cash flow of the automotive segment. It amounted to € 2,289 million (2023: € 3,141 million/ -37,2%) in the period from January to June. Total investments in intangible assets and property, plant and equipment amounted to € 4,971 million (2023: € 3,911 million/ +27.1%) – increasing by around one billion euros against the previous first half-year and thus affecting free cash flow.
Despite peak levels of capital expenditure, the BMW Group is targeting a free cash flow of > € 6 billion for the full year.
“The BMW Group aspires to be a leader in innovation. Today, we are investing more than ever, especially in the vehicles of the NEUE KLASSE and in innovative technologies. We are pushing forward with the digitalisation and electrification of our plants and introducing more efficient processes for our operating business. The future of the company has already begun – which we are implementing step by step,” said Walter Mertl, member of the Board of Management responsible for Finance. “We are maintaining our course of profitable growth, systematically managing our costs and boosting our efficiency through digitalisation and AI applications.”
Net financial assets of € 43.2 billion in Automotive Segment as of 30 June
Starting with the current Half-Year Report, the BMW Group is reporting a wider range of automotive net financial assets: In addition to the net financial assets of the Automotive segment, it now includes those of the holding companies within the Other Companies segment which receive distributions from subsidiaries. As a result of the inclusion of the net financial assets of holding companies, these intra-group distributions will continue to be reported as net financial assets. As of June 30, automotive net financial assets amounted to € 43,208 million (see Half-Year Report, p. 16).
Financial Services Segment posts significant growth
In the Financial Services Segment, the number of new credit financing and leasing contracts in the first six months of the year rose significantly to 849,908 units (+16.5%). The segment’s volume of new business increased significantly to € 31,677 million (2023: € 26,797 million; +18.2%). The penetration rate increased to 41.2% (2023: 37.5%; +3.7 percentage points).
For the first six months, the segment reported pre-tax earnings (EBT) of € 1,481 million (2023: € 1,704 million/ -13.1%). The main dampening effect came from the normalisation of global used car markets, resulting in lower income from the resale of end-of-lease vehicles. During the reporting period, the credit loss ratio remained at 0.25% across the entire loan portfolio (2023: 0.15%).
BMW Group confirms guidance
Given the sustained demand for its attractive premium vehicles, the BMW Group is able to confirm its full year guidance for the year. The BMW Group expects to see slight growth in customer deliveries worldwide in the full year. In China, the company expects the economic situation to begin to stabilize in Q3. Positive momentum in H2 2024 is also expected on a global scale from the new BMW 5 Series and the current ramp-up of the MINI family.
Group earnings before tax are forecast to decrease slightly in the full year, due to higher manufacturing and fixed costs, especially personnel costs and R&D spending, than reported in the previous year. The anticipated price decrease in the global used car markets is also likely to contribute to this. In the Automotive Segment, the EBIT margin is expected to be within the corridor of 8-10% for the full year.
A slight increase in deliveries is forecast for the Motorcycles Segment, with an EBIT margin within the target range of 8-10%. The return on equity in the Financial Services segment is now expected to be in the range of 15-18% due to the current improved business development. These targets will be achieved with slightly higher employee numbers.
This guidance assumes that geopolitical and macroeconomic conditions will not deteriorate. Given the many uncertainties surrounding the existing risks and opportunities, the BMW Group’s actual business performance may deviate from current forecasts.
The BMW Group – an overview: IN Q2 202 4 |
IN Q2 2024 | IN Q2 2023 | Change in % | ||||
| Deliveries to customers | |||||||
| Automotive1 | units | 618,743 | 626,726 | -1.3 | |||
| thereof: BMW | units | 565,490 | 553,369 | 2.2 | |||
| MINI | units | 51,959 | 71,816 | -27.6 | |||
| Rolls-Royce | units | 1,294 | 1,541 | -16.0 | |||
| Motorcycles | units | 66,638 | 64,936 | 2.6 | |||
| Employees (as of 31 Dec. 2023) | 154,950 | ||||||
| EBIT margin Automotive Segment | percent | 8.4% | 9.2% | -0.8 %pts | |||
| EBIT margin Motorcycles Segment | percent | 11.1% | 16.0% | -4.9 %pts | |||
| EBT margin BMW Group2 | percent | 10.5% | 11.3% | -0.8 %pts | |||
| Revenues | € million | 36,944 | 37,219 | -0.7 | |||
| thereof: Automotive | € million | 32,070 | 31,630 | 1.4 | |||
| Motorcycles | € million | 989 | 988 | 0.1 | |||
| Financial Services | € million | 9,742 | 8,795 | 10.8 | |||
| Other Entities | € million | 3 | 3 | 0.0 | |||
| Eliminations | € million | -5,860 | -4,197 | 39.6 | |||
| Profit before financial result (EBIT) | € million | 3,877 | 4,343 | -10.7 | |||
| thereof: Automotive | € million | 2,684 | 2,898 | -7.4 | |||
| Motorcycles | € million | 110 | 158 | -30.4 | |||
| Financial Services | € million | 725 | 751 | -3.5 | |||
| Other Entities | € million | -8 | -1 | – | |||
| Eliminations | € million | 366 | 537 | -31.8 | |||
| Profit before tax (EBT) | € million | 3,861 | 4,222 | -8.6 | |||
| thereof: Automotive | € million | 2,627 | 2,740 | -4.1 | |||
| Motorcycles | € million | 110 | 159 | -30.8 | |||
| Financial Services | € million | 751 | 759 | -1.1 | |||
| Other Entities | € million | 295 | 245 | 20.4 | |||
| Eliminations | € million | 78 | 319 | -75.5 | |||
| Group income taxes | € million | -1,156 | -1,264 | -8.5 | |||
| Net profit | € million | 2,705 | 2,958 | -8.6 | |||
| Earnings per share of common stock | € | 4.15 | 4.39 | -5.5 | |||
| Earnings per share of preferred stock3 | € | 4.16 | 4.40 | -5.5 | |||
| 1Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang | |||||||
| 2 Ratio of Group earnings before taxes to Group revenues. | |||||||
| 3 Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year. | |||||||
| The BMW Group – an overview: YTD Q2 2024 |
YTD Q2 2024 | YTD Q2 2023 | Change in % | ||||
| Deliveries to customers | |||||||
| Automotive1 | units | 1,213,276 | 1,214,864 | -0.1 | |||
| thereof: BMW | units | 1,096,423 | 1,071,326 | 2.3 | |||
| MINI | units | 114,034 | 140,357 | -18.8 | |||
| Rolls-Royce | units | 2,819 | 3,181 | -11.4 | |||
| Motorcycles | units | 113,072 | 112,871 | 0.2 | |||
| Employees (as of 31 Dec. 2023) | 154,950 | ||||||
| EBIT margin Automotive Segment | percent | 8.6% | 10.6% | -2%pts | |||
| EBIT margin Motorcycles Segment | percent | 11.6% | 10.6% | +1%pt | |||
| EBT margin BMW Group2 | percent | 10.9% | 12.6% | -1.7%pts | |||
| Revenues | € million | 73,558 | 74,072 | -0.7 | |||
| thereof: Automotive | € million | 63,009 | 62,898 | 0.2 | |||
| Motorcycles | € million | 1,861 | 1,921 | -3.1 | |||
| Financial Services | € million | 19,267 | 17,621 | 9.3 | |||
| Other Entities | € million | 7 | 6 | 16.7 | |||
| Eliminations | € million | -10,586 | -8,374 | 26.4 | |||
| Profit before financial result (EBIT) | € million | 7,931 | 9,718 | -18.4 | |||
| thereof: Automotive | € million | 5,394 | 6,675 | -19.2 | |||
| Motorcycles | € million | 216 | 312 | -30.8 | |||
| Financial Services | € million | 1,439 | 1,709 | -15.8 | |||
| Other Entities | € million | -13 | -5 | – | |||
| Eliminations | € million | 895 | 1,027 | -12.9 | |||
| Profit before tax (EBT) | € million | 8,023 | 9,351 | -14.2 | |||
| thereof: Automotive | € million | 5,330 | 6,568 | -18.8 | |||
| Motorcycles | € million | 216 | 313 | -31.0 | |||
| Financial Services | € million | 1,481 | 1,704 | -13.1 | |||
| Other Entities | € million | 696 | 117 | – | |||
| Eliminations | € million | 300 | 649 | -53.8 | |||
| Group income taxes | € million | -2,367 | -2,731 | -13.3 | |||
| Net profit | € million | 5,656 | 6,620 | -14.6 | |||
| Earnings per share of common stock | € | 8.57 | 9.70 | -11.6 | |||
| Earnings per share of preferred stock3 | € | 8.58 | 9.71 | -11.6 | |||
| 1Deliveries include the joint venture BMW Brilliance Automotive Ltd., Shenyang | |||||||
| 2 Ratio of Group earnings before taxes to Group revenues. | |||||||
| 3 Common/preferred shares. Earnings per share of preferred stock are calculated by distributing the earnings required to cover the additional dividend of € 0.02 per preferred share proportionally over the quarters of the corresponding financial year. | |||||||
GLOSSARY – explanatory comments on key performance indicators
BEV
Battery Electric Vehicle.
Deliveries to customers
A new or used vehicle is recorded as a delivery once it is handed over to the end user (which also includes leaseholders under lease contracts with BMW Financial Services). In the US and Canada, end users also include (1) dealers when they designate a vehicle as a service loaner or demonstrator vehicle and (2) dealers and other third parties when they purchase a company vehicle at auction and dealers when they purchase company vehicles directly from the BMW Group. Deliveries may be made by BMW AG, one of its international subsidiaries, a BMW Group retail outlet, or independent third-party dealers. The vast majority of deliveries – and hence the reporting of deliveries to the BMW Group – is made by independent third-party dealers. Retail vehicle deliveries during a given reporting period do not correlate directly to the revenues that the BMW Group recognises in respect of that particular reporting period.
EBIT
Profit before financial result. Profit before financial result comprises revenues less cost of sales, less selling and administrative expenses and plus/minus net other operating income and expenses.
EBIT margin
Profit/loss before financial result as a percentage of revenues.
EBT
EBIT plus financial result.
EBT Margin
Profit/loss as a percentage of revenues.
PHEV
Plug-in-hybrid electric vehicle.
RoCE
Return on capital employed (RoCE). RoCE in the Automotive and Motorcycles segments is measured on the basis of relevant segment profit before financial result and the average amount of capital employed – at the end of the last five quarters – in the segment concerned. Capital employed corresponds to the sum of all current and non-current operational assets, less liabilities that generally do not incur interest.
RoE
Return on equity (RoE). RoE in the Financial Services segment is calculated as segment profit before taxes, divided by the average amount of equity capital – at the end of the last five quarters – attributable to the Financial Services segment.
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.
In 2023, the BMW Group sold over 2.55 million passenger vehicles and more than 209,000 motorcycles worldwide. The profit before tax in the financial year 2023 was € 17.1 billion on revenues amounting to € 155.5 billion. As of 31 December 2023, the BMW Group had a workforce of 154,950 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.
www.bmwgroup.com
