BMW released their annual report today ahead of their annual accounts press conference, announcing record growth. Portions of the report not relevant to BMW Group or MINI have been removed for space and clarity.
- 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
via press release
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
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.
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.
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%).
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.
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 – overview||2015||2014||Change in %|