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BMW Sees Least EUR 7 Bln Free Cash Flow In Automotive Segment In 2022

German automotive major BMW AG (BMW,BMW.L,BAMXF.PK,BAMXY.PK) Wednesday said that for 2022, it expects free cash flow in the Automotive Segment to reach at least 7 billion euros.

There will be a positive one-time effect from recognising BBA's liquid assets in the balance sheet for the first time amounting to around 5 billion euros.

As announced earlier, 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 preferred stock for the financial year 2021 to the Annual General Meeting. This represents a payout ratio of 30.7 percent.

By 2025, the company plans to sell around a quarter of its vehicles entirely online. Further, the company aims to have more than two million fully-electric vehicles on the roads by 2025. BMW Group aims to have delivered a total of 10 million fully-electric vehicles to customers by 2030.

BMW also said it plans to add new jobs worldwide this year that will expand its workforce by to up to five percent. Current BMW employees will see a noticeable increase in their profit-sharing bonus for 2021, in line with Group net profit.

In Germany, BMW shares were trading at 76.90 euros, up 2.10 percent.

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