BMW Group achieves record earnings in 2015

New highs for sales volume, revenues and profit before tax

BMW Group achieves targets for financial year 2015

Group revenues up 14.6% to € 92.2 billion

Group profit before tax exceeds 9 billion euros for first time

EBIT margin Automobile segment of 9.2% within target range

Group net profit increased by 10% to € 6.4 billion

Record dividend: € 3.20 per share of common stock proposed

Associate bonus paid highest in German premium auto industry

 

 


Munich.

The BMW Group achieved its sixth record-breaking year in
succession in 2015, posting new highs to date for sales volumes,
revenues and profit before tax, despite a volatile market environment.

 

“We have met all of our ambitious targets for the financial
year”, stated Harald Krüger, Chairman of the Board of
Management of BMW AG on Wednesday in Munich. “With another set of
impressive figures in its centenary year, the BMW Group remains the
world’s leading provider of premium vehicles and mobility services.”

 

Automobile sales volume climbed by 6.1% to a
new record level of 2,247,485 units (2014: 2,117,965 units).

 

With additional tailwind from favourable currency factors,
Group revenues grew by 14.6% in 2015 to € 92,175
million (2014: € 80,401 million). Profit before financial
result
(EBIT) increased by 5.2% to € 9,593 million (2014:
€ 9,118 million), mainly on the back of sales volume growth.
Group profit before tax (EBT) rose for the first
time above € 9 billion, increasing by 5.9% to a new high level of
€ 9,224 million (2014: € 8,707 million). Group net
profit
rose for the first time above € 6 billion,
increasing by 10.0% to a new record level of € 6,396 million (2014:
€ 5,817 million).


 


Dividend of € 3.20 per share of common stock proposed

 

“The exemplary commitment of our workforce and the
unfailing trust placed in us by our shareholders are the key topics
that run through the BMW Group’s success story”, elaborated
Krüger. “To mark the company’s centenary, we are once again
raising the associate bonus for our permanent staff in Germany, the
highest amount paid in the German premium auto industry. Dividend
payments to our shareholders will also exceed the two billion euro
mark for the first time, reflecting the BMW Group’s fine performance
in 2015.” At the Annual General Meeting on 12 May 2016 the Board of
Management and the Supervisory Board will propose to shareholders
that the dividend be increased to a new high of
€ 3.20 per share of common stock (2014: € 2.90) and € 3.22 per share
of preferred stock (2014: € 2.92). The distribution
rate
stands at 32.9% (2014: 32.7%), well within the BMW
Group’s target range of 30 to 40%.

 


Automotive segment’s profitability in target range


 


Automotive segment revenues

grew by 13.8% year-on-year to € 85,536 million (2014: € 75,173
million), mainly reflecting the good sales volume performance, new
models and favourable currency factors. EBIT
increased by 8.2% to € 7,836 million (2014: € 7,244 million). The
EBIT margin came in at 9.2% (2014: 9.6%) and was
thus in the upper half of the targeted range of
8 -10%.
Segment profit before tax (EBT) improved by 9.3%
to a new high of € 7,523 million (2014: € 6,886 million).

 

The BMW brand maintained its top position in the
premium segment in 2015 by posting a new record sales volume figure.
Deliveries to customers were 5.2% higher at 1,905,234 units (2014:
1,811,719 units), with excellent performances by the BMW 2
Series, the BMW 4 Series and the BMW X family helping to drive sales
volume growth. Additional momentum is expected in the current year,
in particular from the new BMW 7 Series and the new BMW X1.

The BMW 2 Series proved exceptionally popular
in 2015, with deliveries to customers reaching a total of 157,144
units (2014: 41,038 units), including more than 107,000 units of the
BMW 2 Series Active and Gran Tourer, which therefore accounted for
more than two thirds of the total figure for the series. The
BMW 4 Series performed equally well,
consolidating its position as market leader in its segment with a
27.4% sales volume increase to 152,390 units (2014: 119,580 units).
The brand’s growth is also being driven by the success of the
BMW X family. Sales of the BMW
X4
more than doubled to 55,050 units (2014: 21,688 units).
Worldwide sales of the BMW X5, also the market
leader in its segment, grew by 14.1% to 168,143 units (2014: 147,381
units), while the BMW X6 recorded a 53.1% increase
to 46,305 units (2014: 30,244 units).

 

The number of BMW i vehicles delivered to
customers jumped by 65.9% to 29,513 units (2014: 17,793 units),
comprising 24,057 units (2014: 16,052 units) of the BMW
i3
(+49.9%) and 5,456 units (2014: 1,741 units) of the
BMW i8.

 


MINI

achieved a new sales volume record in 2015, with deliveries up
12.0% to 338,466 units (2014: 302,183 units). Worldwide sales of the
new MINI 5-Door totalled 94,788 units (2014: 13,113
units), while sales of the MINI 3-Door edged up to
127,194 units (2014: 126,938 units; +0.2%). The new MINI
Clubman
went on sale in October and registered sales of
8,003 units by the end of the year.

 


Rolls-Royce Motor Cars

recorded the second-best performance in its
112-year
history. The Goodwood-based company sold 3,785 units worldwide in
2015 (-6.8%), with the Wraith and
Ghost models making the largest contributions to
the sales volume figure. Demand for the brand remained high around
the world, the only notable exception being China, where the luxury
segment as a whole felt stiff headwinds.

 

In line with its strategy of achieving a balanced distribution
of worldwide sales, the BMW Group recorded sales volume growth in
all major sales regions. The four largest sales
markets for the BMW Group over the past year were China, the USA,
Germany and Great Britain.

 

Sales of BMW Group vehicles in Europe in 2015
exceeded the one-million mark for the first time, with a total of
1,000,427 units (2014: 914,587 units; +9.4%) handed over to
customers. Sales volume was 5.0% higher in Germany at 286,098 units
(2014: 272,345 units) and 12.6% higher in Great Britain at 230,982
units (2014: 205,071 units).

 

The pace of growth in Asia slowed in 2015 as a
result of the continuing normalisation of the Chinese market. The
BMW Group sold 685,792 units (2014: 658,384 units) in this region,
4.2% more than the previous year, including sales on the Chinese
mainland, which grew by 1.6% to 464,086 units (2014: 456,732 units).

 

The BMW Group also increased sales volume in the
Americas region, with the number of vehicles sold
up 2.8% to 495,897 units (2014: 482,257 units), including 405,715
units (2014: 396,961 units) sold in the USA (+2.2%).


 


Significant increase in Motorcycles segment earnings

 

Motorcycles segment revenues grew 18.5%
year-on-year to € 1,990 million (2014: € 1,679 million).
EBIT improved by 62.5% to € 182 million (2014:
€ 112 million), while profit before tax advanced by
67.3% to € 179 million (2014: € 107 million). Sales
volume
increased by 10.9% to 136,963 units (2014: 123,495
units), thus outperforming the market as a whole. BMW Motorrad’s
five largest markets were Germany, the USA, France, Italy and Spain.


 


 


Financial Services segment continues to grow

 

The Financial Services segment also continued to perform well in
2015. Segment revenues were 15.2% higher at
€ 23,793 million (2014: € 20,599 million), while profit
before tax
improved by 14.6% to € 1,975 million (2014:
€ 1,723 million).

 

In total, 1,655,961 (2014: 1,509,113) new
contracts
were signed in conjunction with financing and
leasing business, up 9.7% on the previous year. The
portfolio of lease and financing contracts in
place with dealers and retail customers at the end of the reporting
period rose by 8.2% to 4,718,970 contracts (2014: 4,359,572
contracts).


 


Increase in workforce and number of apprentices


 

The workforce increased by 5.1% compared with
the previous year. Overall, the BMW Group had a worldwide workforce
of 122,244 employees (2014: 116,324 employees) at the end of the
reporting period.

The increase mainly reflects the ongoing expansion of the
Group’s international production network and the targeted
recruitment of engineers, IT specialists and skilled workers needed
to step up the development of future technologies and new services.

 

The BMW Group expanded training activities worldwide. During the
past year, approximately 1,500 young people began
an apprenticeship within the organisation, including 1,200 in
Germany. At the end of the reporting period, 4,700 young people
worldwide were in vocational training and training programmes for
young talent within the BMW Group.


 

 


BMW Group targets further sales volume growth in 2016

 

The upward trend in worldwide sales volume is
forecast to continue in 2016 in view of the BMW Group’s highly
attractive model range, freshly rejuvenated by the new BMW 7 Series.
“We are again targeting a new sales volume record in 2016, with
sales expected to be slightly up on the previous year,”
commented Krüger. The global political and economic environment is
also expected to remain volatile.

 


Supervisory Board

 

The Supervisory Board will propose at the Annual General Meeting
to be held on 12 May 2016 that Simone Menne, member of the Executive
Board of Deutsche Lufthansa AG, be re-elected to the BMW AG
Supervisory Board.

 

* * *

 

Further information on the Group Financial Statements 2015 and
the outlook for the current year will be available at the BMW
Group’s Annual Accounts Press Conference to be held on 16 March 2016
in Munich.

 

 


BMW Group – an overview

 

2015

               2014

Change in %

Sales volume

    

Automotive

units

2,247,485

2,117,965

6.1

Thereof:

    

BMW

units

1,905,234

1,811,719

5.2

MINI

units

338,466

302,183

12.0

Rolls-Royce

units

3,785

4,063

-6.8

Motorcycles

units

136,963

123,495

10.9

Workforce1

 

122,244

116,324

5.1

Revenues

€ million

92,175

80,401

14.6

Thereof:

    

Automotive

€ million

85,536

75,173

13.8

Motorcycles

€ million

1,990

1,679

18.5

Financial Services

€ million

23,739

20,599

15.2

Other Entities

€ million

7

7

Eliminations

€ million

-19,097

-17,057

-12.0

Profit before financial result
(EBIT)

€ million

9,593

9,118

5.2

Thereof:

    

Automotive

€ million

7,836

7,244

8.2

Motorcycles

€ million

182

112

62.5

Financial Services

€ million

1,981

1,756

12.8

Other Entities

€ million

169

71

Eliminations

€ million

-575

-65

Profit before tax (EBT)

€ million

9,224

8,707

5.9

Thereof:

    

Automotive

€ million

7,523

6,886

9.3

Motorcycles

€ million

179

107

67.3

Financial Services

€ million

1,975

1,723

14.6

Other Entities

€ million

211

154

37.0

Eliminations

€ million

-664

-163

Income taxes

€ million

-2,828

-2,890

2.1

Net profit

€ million

6,396

5,817

10.0

Earnings per share2

9.70/9.72

8.83/8.85

9.9/9.8

1 Figures exclude dormant employment contracts, employees in the work
and non-work phases of pre-retirement part-time working arrangements
and low wage earners

2 Earnings per share of common stock/preferred stock

 

 

For questions please contact:

 

Corporate Communications

 

Max-Morten Borgmann, Business and Finance Communications

Telephone: +49 89 382-24118, Fax: +49 89 382-24418


Max-Morten.Borgmann@bmwgroup.com

 

Nikolai Glies, Head of Business and Finance Communications

Telephone: +49 89 382-24544, Telefax: +49 89 382-24418


Nikolai.Glies@bmwgroup.com

 

Internet: www.press.bmwgroup.com

E-mail:
presse@bmw.de

 

 

The BMW Group

 

With its three brands BMW, MINI and Rolls-Royce, the BMW Group is the
world’s leading premium manufacturer of automobiles and motorcycles
and also provides premium financial and mobility services. As a global
company, the BMW Group operates 30 production and assembly facilities
in 14 countries and has a global sales network in more than 140 countries.

 

In 2015, the BMW Group sold approximately 2.247 million cars and
nearly 137,000 motorcycles worldwide. The profit before tax for the
financial year 2015 was approximately € 9.22 billion on revenues
amounting to € 92.18 billion. As of 31 December 2015, the BMW Group
had a workforce of 122,244 employees.

 

The success of the BMW Group has always been based on long-term
thinking and responsible action. The company has therefore established
ecological and social sustainability throughout the value chain,
comprehensive product responsibility and a clear commitment to
conserving resources as an integral part of its strategy.

 


www.bmwgroup.com

Facebook:
http://www.facebook.com/BMWGroup

Twitter:
http://twitter.com/BMWGroup

YouTube:
http://www.youtube.com/BMWGroupview

Google+:
http://googleplus.bmwgroup.com