BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) said that it reaffirmed its ambitious targets for the full year 2013 amid a persistently difficult and volatile economic environment. The company said it is aiming for a new sales volume record at Group level and a Group profit before tax for 2013 on a similar scale to 2012.
Despite the additional costs referred to, the Automotive segment continues to forecast an EBIT margin of between 8% and 10% for the current year. This range is also seen as a sustainable EBIT margin beyond 2013, the company said.
The Motorcycles segment forecasts further sales volume growth in the current year. It expects further rise in segment revenues and earnings.
The Financial Services segment is also expected to produce another strong performance and remains committed to achieving a return on equity of at least 18%.
The company said that its Board of Management and the Supervisory Board will propose to shareholders at today's the Annual General Meeting that the dividend be increased to 2.50 euros per share of common stock, compared to 2.30 euros per share of common stock last year, and 2.52 euros per share of preferred stock, compared to 2.32 euros per share of preferred stock in the prior year.
Based on these, the total distribution will rise to 1.640 billion euros, compared to 1.508 billion euros.
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