BMW Group FY21 Automotive EBIT Margin At High End Of Its Guidance Range; Revenues Up 12.4%

bmw3 10mar22

BMW Group (BMW,BMW.L,BAMXF.PK,BAMXY.PK) said it was able to significantly increase both Group earnings and net profit in 2021 compared to the previous year. Automotive deliveries to customers rose 8.4% to 2,521,514 units. The company noted that 13% of its deliveries in 2021 were electrified vehicles. BMW Motorrad delivered 194,261 units to customers in 2021, an increase of 14.8% from prior year.

In 2021, the Group's Financial Services Segment delivered high earnings contribution as it benefited from high demand for new and used premium vehicles. EBIT margin of Automotive Segment was at 10.3%, for the fiscal year, an increase of 7.6 percentage points from last year.

Fiscal 2021 Group net profit was 12.46 billion euros compared to 3.86 billion euros, previous year. Group earnings before tax increased to 16.06 billion euros from 5.22 billion euros. The company said a positive effect of around 1 billion euros resulted from the partial reversal of the provision for the EU Commission's antitrust proceedings, after these were concluded in the second quarter. Earnings per common share was 18.77 euros compared to 5.73 euros.

Fiscal 2021 Group revenues increased to 111.24 billion euros from 98.99 billion euros, prior year, an increase of 12.4%. Revenues in the Financial Services Segment increased to 32.87 billion euros from 30.04 billion euros. Automotive Segment revenues were at 95.48 billion euros, up 18.1%.

Fourth quarter Group net profit was 2.26 billion euros, up 34.3% from a year ago. Group revenues were 28.41 billion euros, down 3.6%.

The Board of Management and Supervisory Board will propose a dividend of 5.80 euros per share of common stock and 5.82 euros?per share of preferred stock to the Annual General Meeting.

The Board of Management and the Supervisory Board will propose to the Annual General Meeting that the Board of Management be authorised to purchase and retire treasury shares. The Board of Management would be authorised for a period of five years to purchase shares in the company worth up to 10% of the total share capital and to retire or to use them.

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