BMW targets continuing success
The BMW Group aims to continue its success story in 2015 despite the current volatile environment.
‘We are targeting solid growth, and hence new record figures for sales volume and group profit before tax in the current financial year,’ stated Norbert Reithofer, chairman of the board of management of BMW AG at the Annual Accounts Press Conference on Wednesday in Munich.
Momentum in 2015 will come from the BMW Group’s attractive model range, the market launch of 15 new models and model revisions as well as from the expected positive development of international automobile markets. Against that, personnel costs will continue to rise and upfront expenditure for new technologies will remain at a high level. The political and economic environment is also expected to remain volatile.
The Automotive segment is forecast to achieve solid sales volume growth in 2015. This will be driven by new models, including the revised model of the BMW 1 Series and the new spacious seven-seater BMW 2 Series Gran Tourer presented at the Geneva Motor Show, as well as the new BMW 7 Series, preparations for which are already well under way at the Dingolfing plant. The BMW Group predicts that it will remain the world’s leading premium car company in 2015.
Solid growth is also expected in automotive segment revenues, in line with the increase in sales volume. The EBIT margin in 2015 is forecast to remain within the targeted range of between eight and 10%.
The BMW Group achieved its fifth record year in succession in 2014. ‘We continued to perform well during the past year, achieving new highs for sales volume, revenues and group earnings,; stated Reithofer.
Group revenues grew by 5.7% in 2014 to € 80,401 million (2013: € 76,059 million). Profit before financial result (EBIT) rose by 14.3% to € 9,118 million (2013: € 7,978 million), thanks primarily to sales volume growth and a high-value model mix. Group profit before tax (EBT) increased by 10.3% to a new high level of € 8,707 million (2013: € 7,893 million). Net profit improved by 9.2% to € 5,817 million (2013: € 5,329 million), also a new record high for the BMW Group.
Sales volume surpassed the two-million mark for the first time in the BMW Group’s history, climbing by 7.9% to a total of 2,117,965 units (2013: 1,963,798 units).