Featured

• Outlook: Bold technological transformation and business success
  will continue to go hand in hand in 2022
• E-mobility ramp-up: 15 BEV models in production
• Electromobility: Neue Klasse will speed up market penetration –
  BEV share of 50 percent could be reached earlier
• Neue Klasse brings technological advances in next-generation
  battery cells, automated driving, circularity and digitalisation
• Lean, green, digital: Neue Klasse ushers in production of the future
• Strong free cash flow for Automotive Segment in 2022
• Share repurchase authorisation proposed
• Zipse: “2021 provides evidence of successful transformation”

 

Munich. After a successful 2021, the BMW Group is
speeding up technological change and pushing forward with the
transformation towards sustainable mobility. The company is preparing
for a comprehensive leap in technology in its Neue
Klasse and significantly upping the pace once again
as it continues to ramp up e-mobility. At the same time,
the BMW Group is involving its stakeholders, from employees to the
capital market to society, in its successful, consistently implemented
transformation strategy.

 

“We see 2021 as clear evidence that successful transformation pays
off. The strong result we achieved in financial year 2021 is the
outcome of our consistent strategy – with an open-technology approach
and the right products at the right time,” said Oliver
Zipse, Chairman of the Board of Management of BMW AG, on
Wednesday in Munich. “We have laid the foundations to build on this
success in the coming years: With the Neue Klasse, we are leading
sustainable mobility into a new technological
dimension. By extending the contract with our BBA joint
venture until 2040, the BMW Group is also taking its growth to the
next level.”

 

The BMW Group is monitoring the current development of the situation
in eastern Europe with great concern and dismay. As a global company,
the BMW Group stands for the peaceful coexistence of different
cultures all over the world – at all times and in all locations. The
thoughts of our BMW Group employees are with all those who are
experiencing suffering and loss in this war.

 

“In the current situation, three things are paramount for the BMW
Group: helping the victims and those affected wherever we can,
securing our day-to-day operations worldwide and continuing to
systematically implement our long-term strategy,” said
Zipse. “The major challenges we are already facing,
such as the fight against climate change and the transformation
towards sustainable mobility, must still be confronted with the same
intensity . It is especially important in times of crisis not to stop
doing the right things.”

 

Employees key success factor in transformation

 

All
stakeholders in the company benefit
from how the BMW Group is approaching the transformation: In response
to the technological shift taking place and continued growth
prospects, the BMW Group plans to add new jobs worldwide this year
that will expand its workforce by to up to five
percent. In this way, the company is contributing to
social prosperity at its locations worldwide.
Current BMW AG employees will see a noticeable increase in their
profit-sharing bonus for 2021, in line with Group
net profit.

 

“The main secret to BMW’s success is our associates: They deserve our
thanks, our respect and our recognition for their achievements in
2021. We all share the same core belief that we at the BMW Group move
people, touch their hearts and inspire their minds. We are working
together to continue this success in the future,” said Zipse.

 

Nicolas Peter, member of the Board of Management of
BMW AG responsible for Finance, adds: “Our workforce also benefits
from the success of the company: Last autumn, for instance, we once
again expanded the preferred stock programme introduced in 1989 that
allows employees to buy shares in the company on favourable terms.”

 

Environment also benefits: CO2 fleet emissions once again
significantly reduced

 

The environment is another key stakeholder for the
BMW Group and also benefits from the course taken by the company:
Based on preliminary calculations, the BMW Group reported an
EU fleet emissions figure of 115.9 grams of CO2 per
kilometre and therefore once again significantly
overfulfilled its CO2 fleet target of 126 g/km. 2021 was also
the first year in which the BMW Group’s entire production and all its
sites worldwide achieved a net zero carbon footprint.

 

In 2021, the company became the first German automotive manufacturer
to join the Business Ambition for 1.5°
C campaign launched by the Science-Based Targets
Initiative and therefore committed to the goal of complete
climate neutrality throughout the entire value chain by
2050 at the latest. To take account of all aspects
of holistic sustainability, the BMW Group aims to
significantly increase the percentage of secondary material used in
its vehicles. The "Secondary First"
approach seeks to gradually expand the percentage of recycled and
reused materials used from the current average of almost 30 percent to
50 percent in the Neue Klasse. The
BMW i Vision Circular already provided a glimpse of
what individual, sustainable, luxurious mobility in the urban
environment could look like in 2040:
built from 100-percent secondary material and
renewable raw materials – and 100-percent recyclable.

 

All BMW AG shareholders also have the opportunity to
participate in the company’s success during the transformation: The
Board of Management and Supervisory Board will propose a
dividend of 5.80 euros per share of common stock
(preferred stock: 5.82 euros) for the financial year 2021 to the
Annual General Meeting. This represents a payout ratio of 30.7%.

 

“The higher dividend allows our shareholders to benefit from the
company’s strong performance last year. Appropriate participation in
the company’s success is important to us. We will continue to apply
sound judgement, remaining equally focused on the successful,
sustainable development of the company and our shareholders’
expectations. Even in times of high volatility, amid the challenges of
a far-reaching transformation, we are still optimising our company’s
profitability and enabling our shareholders to benefit from it to an
appropriate extent,” said Peter.

 

Majority stake in joint venture BBA will boost electric
offering in China

 

Another important element in the future orientation of the company is
the extension of the contract with the BMW Brilliance
Automotive (BBA) joint venture in China, combined with
acquisition of a majority stake. Since February, the BMW Group has
held 75 percent of the shares in the company, which
has since been fully consolidated in the Group Financial Statements of
BMW AG.

 

“A successful global company must be able to thoroughly understand
and fulfil customers’ needs and wishes in all three main
regions of the world. With our new footprint in China, we
will be able to meet this requirement to the same extent in all
regions,” said Zipse. One of the ways in which the
BMW Group will achieve this is by expanding its range of
fully-electric vehicles in the world’s
largest market for e-mobility and launching production this
year of a fully-electric variant of the BMW 3 Series
Long-Wheelbase Version that has been specially customised
for China. The company has already announced that the BMW
X5 range will also be expanded to include a variant produced
locally in China.

 

Strong free cash flow expected – share repurchase
authorisation to be proposed to Annual General Meeting

 

Based on its strong operating performance during the
transformation and confidence in the company’s continued
success, the BMW Group is setting itself ambitious targets
for free cash flow: For 2022, the BMW Group
expects free cash flow in the Automotive
Segment to reach at least seven billion euros. In addition,
there will be a positive one-time effect from recognising BBA’s liquid
assets in the balance sheet for the first time amounting to
approximately 5 billion euros. Payment of the acquisition price of
around 3.7 billion euros in February has already been considered.

 

Thanks to its successful business development, the BMW Group has a
healthy balance sheet and a very
solid financing structure, with the potential to generate
sustainably high free cash flow. One reason for
this is the recent full consolidation of BBA in the BMW Group
Financial Statements. The Board of Management and Supervisory Board
will propose to the Annual General Meeting that the Board of
Management be authorised, among other things, to purchase and
retire treasury shares. In accordance with the legal
framework, the Board of Management would be authorised for a period of
five years to purchase shares in the company worth up to ten percent
of the total share capital and to retire or to use them.

 

Innovation drives demand: BMW Group steps up technological
change and e-mobility ramp-up significantly

 

Validated by the success of its fully-electric models so far, the BMW
Group is also raising its targets for the e-mobility ramp-up:
This year, including pre-production vehicles, the
company will already have 15 fully-electric models in
production – covering around 90 percent of its
current segments. In addition to existing models like the
BMW i4, BMW iX and MINI
SE*, this also includes four high-volume BMW model
series: the BMW 3 Series and BMW 5
Series, the BMW X1 and the
BMW X3. The new BMW 7 Series also
has a special role to play in 2022, with the launch of the new
BMW i7.

 

“The BMW iX and BMW i4 are probably the best
electric cars on the market currently –
the test reviews and strong demand from our customers speak for
themselves. This year, the BMW i7 will take things to the next level,”
said Zipse.

 

With the introduction of the BMW iX and BMW i4, the BMW Group has
significantly expanded its digitalisation of the customer
interface. For instance, as well as offering intuitive
configuration to simplify the purchasing process, pre-configured new
vehicles and newer used cars across the entire model range can already
be bought online in the BMW Group’s domestic market of Germany. By
2025, the company plans to sell around a
quarter of its vehicles entirely online.

 

Furthermore, data-based recognition of service requirements enables
proactive customer
care. This means the customer can be contacted
directly and receive assistance remotely, wherever possible, or a
visit to the workshop can be set up easily and efficiently, if needed.

 

Two million BEVs on roads by end of 2025

 

With a fast-growing range of products and strong
demand for the new electric models already available, like
the BMW iX and BMW i4, the BMW Group expects sales of its
fully-electric vehicles to increase rapidly: By the end of
2025, the company aims to have more than two million
fully-electric vehicles on the roads.

 

With the addition of the BMW i7, the BMW 7 Series
will become the first fully-electric luxury sedan in
our line-up available with either an internal combustion engine or a
plug-in hybrid drive train. At the same time, the new BMW 7 Series
also comes with next-level internal combustion and plug-in hybrid
drive technology. This new generation of diesel and petrol
engines offers higher efficiency. Its development already
ensured that engine technology is taking a further step towards
reducing emissions and improving air quality. At the same time, it is
also technically enabled for future regulatory requirements.

 

Neue Klasse brings leap in technology: new battery generation
and future of connectivity

 

The BMW Group will be realigning its product range from the middle of
the decade with the introduction of the Neue Klasse.
Based on a vehicle architecture (BEV-only) that is uncompromisingly
geared towards electric drive trains, the Neue Klasse is characterised
by three key aspects: an entirely redefined IT and software
architecture, a newly-developed high-performance
electric drive train and battery generation, and a
new level of sustainability throughout the entire lifecycle.

 

This new dimension of product substance is designed
to set the standard for digitalisation and electrification, while
bringing the characteristics of a typical BMW into the future –
thereby giving rapidly growing demand for
fully-electric BMW Group vehicles a further boost.

 

To achieve this, the company is making a major technological
leap: For example, the Neue Klasse will use an all-new
electric drive train with lower fuel consumption and higher
range. The BMW Group is currently developing a new generation
of battery cells for this that, combined with optimised cell
chemistry, should also significantly lower costs for the e-drive.

 

The company plans to announce details of this new battery technology
– which is already the sixth generation independently developed by the
BMW Group – before the end of 2022. Within the
next 12 months, the BMW Group will also provide a
first glimpse of the potential of the Neue Klasse for
the next generation of connectivity and user interaction.

 

The long-term cooperation between the BMW Group and Qualcomm
Technologies and Arriver Software agreed on 10 March marks an
important milestone for the next platform generation for automated
driving. The aim is to create a scalable platform for automated
driving where development is based on a common reference architecture,
with joint sensor specifications and a shared safety architecture.
More than 1,400 specialists at locations around the world will work
together within this cooperation.

 

50 percent BEV share may be possible before 2030

 

The BMW Group believes the Neue Klasse has the potential to further
speed up the market penetration of e-mobility. For example,
fully-electric vehicles
could make up
50 percent of the company’s global sales earlier
than
2030.

 

By this point, annual sales of fully-electric BMW Group vehicles
could already surpass 1.5 million units. However,
this will depend on expansion of charging infrastructure worldwide
being able to keep up with the increase in models available and
growing customer demand for fully-electric vehicles. The company is
driving this expansion itself – for example, through the high-power
charging network, Ionity. A stable supply of raw materials will also
be key.

 

Under these conditions, the BMW Group aims to have delivered a total
of ten million fully-electric vehicles to customers
by 2030. By then, the Rolls-Royce
brand will have a product range that is
exclusively all-electric. MINI is also on the road
to a fully-electric future from the early 2030s onwards. Later this
year, the brand will provide a glimpse of the all-new MINI family:
fully digitalised, to suit the MINI lifestyle – with electrified
go-kart feeling, a clear focus on sustainability and a minimal
environmental footprint.

 

The BMW Group does not expect all markets worldwide to have the
necessary framework conditions in place for all
customers to transition to pure electromobility in the early 2030s.
For this reason, options with highly efficient conventional drive
technology will still be needed to meet people’s
individual mobility requirements, while at the same
time contributing to CO2 reduction in the transport sector.

 

Hydrogen fuel cell as further pillar of drive technology

 

Hydrogen fuel cell technology is also expected to
account for a growing percentage of the drive train mix from the
second half of the decade onwards. The BMW Group is systematically
pushing forward with development of this technology as an additional
option for sustainable individual mobility and has already announced
that an electric drive train based on a hydrogen fuel cell is also
conceivable for the Neue Klasse.

 

A small series of the BMW iX5
Hydrogen will be used for demonstration and testing purposes
for the first time this year. With its high-performance fuel cell and
optimised power battery, the BMW iX5 Hydrogen’s drive
system is one-of-a-kind worldwide. Assuming
the hydrogen is produced using renewable energy and
the necessary
infrastructure is available, this technology can
complement the BMW Group’s drive train portfolio and, in particular,
meet the needs of customers who do not have their own access to
electric charging infrastructure, frequently drive
long distances and desire a high degree of flexibility.

 

BMW iFactory:
Lean, green, digital – production of the future for Neue Klasse

 

The Neue Klasse is not only designed to set standards on the roads,
but also in production. The BMW Group has viewed itself for decades as
the benchmark for production technology and
operational excellence in vehicle construction. Building on this
foundation, the company now aims to redefine the future of automotive
production: BMW iFACTORY represents this strategic vision of BMW
production: LEAN. GREEN. DIGITAL.

 

BMW iFACTORY provides answers to the challenges of transforming the
production network towards e-mobility, with a global, integrative
approach, and will be implemented at all plants worldwide. This
digitalised iFactory approach will be pioneered by
the new Plant Debrecen, with
groundbreaking planned for 1 June 2022. Exactly 26
months later, the plant will produce the first prototypes for the Neue
Klasse. Existing locations such as the main plant in
Munich, which will celebrate its centenary
this year, will be modernised from the same perspective, as part of
the ongoing transformation, and geared up for future tasks.

 

In the clusters lean, green, digital, the BMW Group
will be systematically further developing its global production
network in the coming years to fulfil its ambition of creating the
most state-of-the-art and efficient
production for the Neue Klasse.

 

The term lean stands for efficiency,
precision and a high level of flexibility, as well as the
ability to integrate different drive technologies and vehicle
architectures into production – which is already a key factor for the
lasting success of the transformation.

 

Green means using state-of-the-art technologies to
establish production with minimal use of resources
and the vision of a circular economy. By 2030, the
BMW Group aims to reduce its CO2 emissions per vehicle from production
by 80 percent from 2019 levels.

 

Digital stands for the use of data
science and artificial intelligence in
production, as well as merging the real and virtual
world in planning and development. The aim is for employees
around the world to be able to connect virtually in real time to shape
the production of the future.

 

“We are making good progress with the comprehensive digitalisation of
the company and its products, and the gradual electrification of our
line-up. We are able to cover the high investments we are making out
of our own resources, today and in the future. We have the staying
power and the financial strength for this far-reaching
transformation,” said Peter.

 

Operational excellence – the basis for continued success

 

The BMW Group brought the financial year 2021 to a successful
conclusion – with Group revenues, earnings and net profit all
significantly higher.

Deliveries were up 8.4%, to
2,521,514 units, of which 13% were electrified
vehicles (328,314 units/ +70.4% YOY).

 

Group revenues climbed to €
111,239 million (prev. yr.: € 98,990 million) in
2021. A higher percentage of high-revenue vehicles meant the BMW Group
benefited from positive product-mix effects and improved pricing –
both for the sale of new vehicles and the resale of end-of-lease vehicles.

 

For the full year, the BMW Group reported Group
earnings before taxes of
€ 16,060 million (prev. yr.: €
5,222 million). A positive effect of around € 1 billion resulted from
the partial reversal of the provision for the EU Commission’s
antitrust proceedings, after these were concluded in the second
quarter. Higher research and development spending
provides an indication of how the BMW Group is consistently driving
forward with its transformation. Total costs for research and
development in accordance with IFRS increased significantly
year-on-year to €
6,299 million (prev. yr.: € 5,689 million). Despite
this, Group net profit reached a new all-time high of
€ 12,463 million (prev. yr.: € 3,857 million).
Employee numbers stood at 118,909 at the end of
December 2021 (prev. yr.: 120,726).

 

EBIT margin in Automotive Segment for 2021 at high end of guidance

 

In the Automotive Segment, earnings before financial
result (EBIT) amounted to € 9,870 million
(prev. yr.: € 2,162 million). At 10.3% (2020: 2.7%),
the EBIT margin for the segment was therefore at the
high end of our guidance.

 

The Financial Services Segment also benefited from
continuing high demand for new and used premium vehicles.
Pre-tax earnings totalled €
3,753 million (prev. yr.: € 1,725 million) and were
therefore also significantly higher than the previous year. The need
for value adjustments for credit risks remained low – which also had a
positive effect.

 

BMW Motorrad delivered more motorcycles and scooters
to customers in 2021 than ever before, with 194,261
units (prev. yr.: 169,272) sold. The segment posted
revenues of € 2,748 million (prev.
yr.: € 2,284 million) and an EBIT of € 227
million (prev. yr.: € 103 million). The EBIT
margin came in at 8.3% (prev. yr.: 4.5%) and
is therefore within the guidance corridor of 8-10%.

 

“The BMW Group’s financial statements have once again proven its
financial strength and flexibility. They show that we are managing our
business prudently and with a clear focus, and staying the course,
even in extremely volatile times. Our goal, once again this year, is
to maintain a consistently strong performance. Operationally, we are
well-positioned for this. The fact that our workforce is highly
motivated and able to weather a crisis makes me optimistic for 2022,
despite the difficult conditions,” said Peter.

 

Outlook for 2022: Group earnings before taxes expected to
increase significantly

 

The BMW Group will continue to enhance the operational excellence of
its day-to-day business in 2022 to maintain its success, even in
difficult conditions. The company’s products are in high demand
worldwide – both models with electrified drive trains and those with
conventional technology. At the same time, the geopolitical situation
in eastern Europe is leading to restrictions in the BMW Group
production network. Without these negative effects, year-on-year
deliveries in the Automotive
Segment would have been expected to trend slightly
higher. Due to the foreseeable adjustments to production,
deliveries are now projected to be on a par
with last year.

 

The full consolidation of BBA will affect key BMW
Group performance indicators for the financial year 2022: Automotive
Segment revenues and EBIT will increase significantly, due to the full
consolidation. However, in combination with consolidation effects,
this is not expected to have a significant impact on the EBIT margin
in the Automotive Segment for the financial year 2022. Without the
impact of the war in Ukraine, the BMW Group would have targeted a
range of 8-10%. However, taking into account the negative effects of
adjustments to production, the EBIT margin is now
forecast to be between 7-9%.

 

This outlook already assumes that the impact of the geopolitical
situation in eastern Europe will lead to restrictions in the BMW Group
production network over the coming weeks. The company is engaging in
intense and constructive discussions with its partners and suppliers
and leveraging the high level of flexibility in its production network
to minimise these limitations. This also involves these suppliers’
production locations worldwide. In parallel, the BMW Group continues
to source parts from West Ukraine, thereby securing long-term
prospects for those employees. However, the safety of local employees
remains the top priority throughout all these activities.

 

A slight increase in deliveries is
forecast for the Motorcycles Segment. The EBIT margin
should remain within our target range of 8 to 10%. The performance
indicators for the Motorcycles Segment will be only marginally
affected by the full consolidation of BMW Brilliance.

 

In the Financial Services Segment, we expect RoE to
be between 14 and 17%. Compared to reporting year 2021, the strong
positive effects from the resale of end-of-lease vehicles are expected
to normalise in the second half of the year, as the semiconductor
supply situation improves.

 

As a result of the full consolidation of BMW Brilliance,
Group earnings before taxes should increase
significantly during the forecast period. The decisive factor here
will be the inclusion of the BMW Brilliance operating result in the
Automotive Segment and the revaluation of previously held equity
interests, with a positive effect of approx. 7-8 billion euros in the
financial result. These effects would more than offset the elimination
of BMW Brilliance’s at-equity earnings in the financial result and the
negative impact resulting from effects in connection with the full
consolidation. Even taking into account the negative impact of
production adjustments, Group earnings before taxes
are still expected to see significant growth.

 

To enable it to press forward with technological change and leverage
further growth prospects, the company will be hiring new
employees this year. The BMW Group plans to increase its
workforce worldwide by up to five
percent in 2022 (reporting date 31 Dec. 2021).

 

Not included in this forecast are: significant tightening of the
sanctions against Russia and/or changes in how existing sanctions are
interpreted, the conflict spreading outside of Ukraine, or a further
substantial increase in energy and raw material prices – due to the
war in Ukraine and/or as a result of related sanctions, among other factors.

 

Regardless of this, the situation remains extremely dynamic, making
it difficult to provide accurate guidance for the financial year 2022.
Since it is not possible to assess further potential longer-term
implications of the war in Ukraine at this time, this cannot be
factored into our forecast.

 

International demand for semiconductors is likely to remain high,
with a correspondingly difficult supply situation. As in 2021, there
is still a risk of supply bottlenecks for the semiconductor components
required for in-house production. The situation is not currently
expected to improve until the second half of 2022.

 

* * *

 

The BMW Group – an overview		2021	2020	Change in %
Deliveries to customers
Automotive 1	units	2,521,514	2,325,179	8.4
thereof:  BMW2	units	2,213,790	2,028,841	9.1
MINI2	units	302,138	292,582	3.3
Rolls-Royce2	units	5,586	3,756	48.7
Motorcycles	units	194,261	169,272	14.8
Employees                                                (compared to 31 Dec. 2020)		118,909	120,726	-1.5
Automotive Segment EBIT margin	percent	10.3	2.7	+7.6% points
Motorcycles Segment EBIT margin	percent	8.3	4.5	+3.8% points
EBT margin BMW Group 3	percent	14.4	5.3	+9.1% points
Revenues	€ million	111,239	98,990	12.4
thereof:   Automotive	€ million	95,476	80,853	18.1
Motorcycles	€ million	2,748	2,284	20.3
Financial Services	€ million	32,867	30,044	9.4
Other Entities	€ million	5	3	66.7
Eliminations	€ million	– 19,857	-14,194	39.9
Profit before financial result (EBIT)	€ million	13,400	4,830	177.4
thereof:   Automotive	€ million	9,870	2,162	356.5
Motorcycles	€ million	227	103	120.4
Financial Services	€ million	3,701	1,721	115.0
Other Entities	€ million	-8	36	-
Eliminations	€ million	-390	808	-
Profit before tax (EBT)	€ million	16,060	5,222	207.5
thereof:   Automotive	€ million	11,805	2,722	333.7
Motorcycles	€ million	228	100	128.0
Financial Services	€ million	3,753	1,725	117.6
Other Entities	€ million	531	-235	-
Eliminations	€ million	-257	910	-
Income taxes	€ million	– 3,597	– 1,365	-
Net profit 2	€ million	12,463	3,857	223.1
Earnings per share (common/preferred share)	€	18.77/18.79	5.73/5.75	-

¹ Including Joint Venture BMW Brilliance Automotive Ltd.,
Shenyang (2021: 651,236 vehicles, 2020: 602,247 vehicles, 2019:
538,612 vehicles, 2018: 455,581 vehicles, 2017: 385,705 vehicles).

² Retail vehicle delivery data presented for 2020 and 2021
is not directly comparable to such data presented for previous years.
For further information on retail vehicle delivery data, please see
Comparison of Forecasts with Actual Outcomes within the BMW Group
Report 2021.

³ Ratio of Group earnings before taxes to Group revenues

 

 

The BMW Group – an overview		Q4/2021	Q4/2020	Change in %
Deliveries to customers
Automotive 1	units	589,290	687,012	-14.2
thereof:  BMW2	units	510,722	601,449	-15.1
MINI2	units	77,300	84,458	-8.5
Rolls-Royce2	units	1,268	1,105	14.8
Motorcycles	units	37,652	39,673	-5.1
Employees                                         (compared to 31 Dec. 2020)		118,909	120,726	-1.5
Automotive Segment EBIT margin	percent	7.7	7.7	-
Motorcycles Segment EBIT margin	percent	-19.8	-1.2	-18.6% points
EBT margin BMW Group 3	percent	10.2	7.7	+2.5% points
Revenues	€ million	28,408	29,482	-3.6
thereof:   Automotive	€ million	25,103	26,024	-3.5
Motorcycles	€ million	486	568	-14.4
Financial Services	€ million	8,688	7,989	8.7
Other Entities	€ million	2	2	-
Eliminations	€ million	-5,871	-5,101	15.1
Profit before financial result (EBIT)	€ million	2,487	2,197	13.2
thereof:   Automotive	€ million	1,925	2,010	-4.2
Motorcycles	€ million	-96	-7	-
Financial Services	€ million	832	664	25.3
Other Entities	€ million	-5	-7	-
Eliminations	€ million	-169	-463	-
Profit before tax (EBT)	€ million	2,907	2,260	28.6
thereof:   Automotive	€ million	2,149	1,955	9.9
Motorcycles	€ million	-96	-8	-
Financial Services	€ million	829	686	20.8
Other Entities	€ million	153	55	178.2
Eliminations	€ million	-128	-428	-
Income taxes	€ million	-651	-580	12.2
Net profit	€ million	2,256	1,680	34.3
Earnings per share (common/preferred share)	€	3.39/3.40	2.53/2.54	-

1 Including Joint Venture BMW Brilliance Automotive Ltd., Shenyang
(2021: 651,236 vehicles, 2020: 602,247 vehicles, 2019: 538,612
vehicles, 2018: 455,581 vehicles, 2017: 385,705 vehicles).

² Retail vehicle delivery data presented for 2020 and 2021
is not directly comparable to such data presented for previous years.
For further information on retail vehicle delivery data, please see
Comparison of Forecasts with Actual Outcomes within the BMW Group
Report 2021.

³ Ratio of Group earnings before taxes to Group revenues

 

 

*Consumption and emissions data:

MINI Cooper SE: Power consumption in kWh/100 km
combined: 16.8-14.8 NEDC, 18-15.5 WLTP

 

If you have any questions, please contact:

 

BMW Group Corporate Communications

Max-Morten Borgmann, Communications Corporate

Telephone: +49 89 382-24118

Email: max-morten.borgmann@bmwgroup.com

 

Eckhard Wannieck, head of Communications Corporate, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

 

Media website: www.press.bmwgroup.com

Email: presse@bmwgroup.com

 

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 31 production and assembly
facilities in 15 countries; the company has a global sales network in
more than 140 countries.

In 2021, the BMW Group sold over 2.5 million passenger vehicles and
more than 194,000 motorcycles worldwide. The profit before tax in the
financial year 2021 was € 16.1 billion on revenues amounting to
€ 111.2 billion. As of 31 December 2021, the BMW Group had a workforce
of 118,909 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.

 

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