\n Munich. The BMW Group is maintaining a clear course
\n in an increasingly competitive environment: Faced with a significant
\n downturn in the Chinese market and an increasingly challenging
\n operating environment worldwide, the company is accelerating and
\n intensifying consequently measures to tackle enduring changes in the
\n operating environment. As an initial and decisive step, the BMW Group
\n has reached an agreement with the Works Council on an extensive
\n workforce restructuring program including voluntary severance packages.<\/p>\n
\u00a0<\/p>\n
\u201cThe automotive industry is faced with rapidly escalating challenges
\n \u2013 intense global competition, increasing regional regulatory
\n requirements and the implications of geopolitical conflicts will shape
\n our business model in the years ahead. That\u2019s why it\u2019s important to be
\n lean and agile,\u201d said Milan Nedeljkovi\u0107, Chairman of the Board
\n of Management of BMW AG. \u201cWe are working to reshape our
\n organisation and processes, thereby positioning the company to stay
\n competitive going forward.\u201d<\/p>\n
\u00a0<\/p>\n
In the second quarter, the sharply negative market development in
\n China, intensified competition, particularly in the Asia-Pacific
\n region, and the consequences of the continuing conflict in the Middle
\n East clearly impacted the BMW Group\u2019s business performance. Group
\n pre-tax earnings (EBT) came in at \u20ac1,697 million (-35.1%) with an EBT
\n margin of 5.4%; in H1, it was 6.5% (H1: \u20ac4,045 million; -29.4%). The
\n EBIT margin in the Automotive Segment was 2.3%. Free cash flow in the
\n segment totalled \u20ac513 million (-73.4%).<\/p>\n
\u00a0<\/p>\n
\n Global deliveries down slightly year-on-year; growth in Europe
\n and the US\n<\/p>\n
The BMW Group delivered a total of 1,156,727 BMW, MINI and
\n Rolls-Royce vehicles to customers worldwide in the first six
\n months of the year (2025: 1,207,594 vehicles\/-4.2%; in Q2: 590,947 vehicles\/-4.9%).<\/p>\n
The company reported growth in the first half of the year in the
\n Sales Region Europe and in the USA (Europe: +5.4%; USA: +3.9%). Growth
\n in both regions increased further in the second quarter (Europe:
\n +7.6%; USA: +11.9%).<\/p>\n
\u00a0<\/p>\n
In the Sales Region China, the negative trend accelerated during the
\n reporting period. The BMW Group also recorded a significant decrease
\n in deliveries (H1: 261,773 units\/-20.4%; Q2: 117,815 units\/-30.2%).<\/p>\n
\u00a0<\/p>\n
\n MINI brand deliveries increased significantly during
\n the reporting period, with growth of +17.1% and 81,032 vehicles
\n delivered in the second quarter (2025: 69,223 vehicles\/+17.1%; H1:
\n 149,535 units; 2025: 133,838 units\/+11.7%). Its fully-electric models
\n contributed to this sales growth: Accounting for 36.9% of the brand\u2019s
\n total deliveries, more than one in every three MINIs sold in the first
\n six months was fully electric (2025: 34.3%).<\/p>\n
\u00a0<\/p>\n
The BMW Group delivered a total of 116,807 fully-electric
\n vehicles between April and June (2025: 111,070
\n vehicles\/+5.2%, H1: 204,295 vehicles\/-7.4%). As a result, nearly one
\n in five vehicles delivered was fully electric (19.8%). In the Sales
\n Region Europe, the positive sales performance continued following the
\n launch of the BMW iX3* in early March: In the second quarter of 2026,
\n total BEV sales in this region reached 81,500 vehicles, an increase of
\n 37.9% compared to the previous year. Nearly one in three new vehicles
\n delivered was fully electric (31.3%\/2025: 24.4%).<\/p>\n
\u00a0<\/p>\n
Demand for the Neue Klasse continues to grow with
\n every new model introduced: The BMW iX3, the first
\n model of the Neue Klasse, is fully on track to reach the milestone of
\n 100,000 orders since its sales launch.<\/p>\n
\u00a0<\/p>\n
The second Neue Klasse model, the BMW i3, has
\n equally recorded strong demand immediately following the start of the
\n early ordering phase for the Launch Edition in June. Since their world
\n premieres, the BMW 7 Series and the all-new
\n BMW X5 have received extremely positive feedback.
\n The new X5 will make the technologies of the Neue Klasse available in
\n five drive train variants to deliver on different customer
\n requirements worldwide.<\/p>\n
\u00a0<\/p>\n
\u201cWith the Neue Klasse and its technologies, we are bringing a strong
\n product portfolio to market \u2013 innovative and at the forefront of
\n technology. Customer feedback has been excellent, and demand remains
\n consistently strong,\u201d said CEO Nedeljkovi\u0107.\n<\/p>\n
\u00a0<\/p>\n
\n Lower Group revenues year-on-year \u2013 cost reduction achieved\n<\/p>\n
For the first six months of 2026, the BMW Group reported
\n revenues of \u20ac62,266\u202fmillion\u202f(2025:
\n \u20ac67,685 million\/-8.0%,adjusted for currency
\n translation effects -6.1%; Q2: \u20ac31,259
\n million (2025: \u20ac33,927 million\/-7.9%,
\n adjusted for currency translation effects -7.8%). Increased
\n competitive pressure and lower sales volumes impacted the year-on-year comparison.<\/p>\n
\u00a0<\/p>\n
\n Research and development expenditure was further
\n reduced, as planned, declining moderately year-on-year to
\n \u20ac3,714\u202fmillion in the first six months (H1
\n 2025:\u00a0\u20ac4,020 million\/-7.6%; Q2:
\n \u20ac1,959 million; 2025:\u00a0\u20ac2,036 million\/-3.8%).\u00a0<\/p>\n
\u00a0<\/p>\n
As planned, capital expenditure was also
\n significantly lower, amounting to \u20ac1,900 million for
\n the first half of the year and \u20ac1,277 million in the
\n second quarter (H1 2025: \u20ac2,736 million\/-30.5%; Q2
\n 2025: \u20ac1,534 million\/-16.7%). The capex ratio for the
\n first half-year came in at 3.1% (2025: 4.0%;
\n Q2: 4.1%; Q2 2025: 4.5%).<\/p>\n
\u00a0<\/p>\n
As planned, the BMW Group also achieved a further moderate reduction
\n in sales and administrative expenses, with costs
\n declining to \u20ac4,777 million for the year to the end
\n of June (2025: \u20ac5,089 million\/-6.1%; Q2:
\n \u20ac2,509 million; 2025: \u20ac2,700 million\/-7.1%).<\/p>\n
\u00a0<\/p>\n
\u201cCompetition in the global automotive market has sharpened
\n noticeably. Following cost savings of \u20ac2.5 billion last year, we are
\n intensifying and accelerating our efficiency measures while
\n implementing targeted structural measures. Our goal is to reduce
\n complexity and establish a sustainably lower cost base,\u201d said
\n Walter Mertl, Member of the Board of Management responsible for
\n Finance. \u201cThe targeted use of digitalisation and artificial
\n intelligence is already generating positive momentum across all areas
\n of the company. For example, within our Development division, we use
\n industrial data combined with artificial intelligence to achieve
\n shorter cycles in virtual vehicle validation, therefore unlocking
\n greater data-driven value creation.\u201d<\/p>\n
\u00a0<\/p>\n
\n Group half-year EBT margin at 6.5%\n<\/p>\n
Group earnings
\n before tax for the reporting period were
\n significantly lower than the previous year, totalling \u20ac4,045
\n million (2025:\u00a0\u20ac5,727 million\/-29.4%; Q2:
\n \u20ac1,697 million; 2025:\u00a0\u20ac 2,614
\n million\/-35.1%).\u00a0The EBT margin for
\n the first half of 2026 stood at 6.5%\u00a0(2025:\u00a08.5%\/-2.0
\n percentage points\/Q2: 5.4%; 2025:\u00a07.7%\/-2.3
\n percentage points).<\/p>\n
\u00a0<\/p>\n
In the Automotive Segment, lower sales volumes and
\n intense competition weighed on revenue performance. During the first
\n six months, Automotive Segment revenues declined
\n moderately year-on-year to \u20ac54,321 million (2025:
\n \u20ac58,654 million\/-7.4%, adjusted for currency translation effects
\n -5.4%; Q2: \u20ac27,162 million\/2025: \u20ac29,443
\n million\/-7.7%, adjusted for currency translation effects -7.8%).<\/p>\n
\u00a0<\/p>\n
\n Earnings before financial result (EBIT) for the first
\n half of the year amounted to \u20ac
\n 1,974 million (2025: \u20ac3,626 million\/-45.6%;
\n Q2: \u20ac 629 million; 2025: \u20ac1,602 million\/-60.7%).
\n Compared with the same period of the previous year, earnings were
\n impacted by the negative market development in China, increased
\n depreciation and amortisation, as well as currency and commodity
\n headwinds, which could only be partially offset by cost reductions.\u00a0<\/p>\n
\u00a0<\/p>\n
The EBIT margin for the second quarter came in at
\n 2.3% (Q2 2025:\u00a05.4%; H1: 3.6%;
\n 2025:\u00a06.2%). This includes headwinds of around 1.25 percentage points
\n from expenses related to import duties (USA, EU), as well as around
\n 1.2 percentage points from depreciation and amortisation of
\n BBA assets resulting from the purchase price allocation.<\/p>\n
\n \u00a0\n<\/p>\n
\n Free cash flow of \u20ac1,290 million in first half-year\n<\/p>\n
The Automotive Segment\u2019s free cash
\n flow for the first six months totalled \u20ac1,290 million
\n (2025: \u20ac2,345 million\/-45.0%; Q2: \u20ac513
\n million; 2025: \u20ac1,932 million\/-73.4%). A free cash flow of
\n >\u20ac2.5 billion is projected for the full year.<\/p>\n
\u00a0<\/p>\n
\n Financial Services Segment sees growth in new contracts\n<\/p>\n
In the Financial Services Segment, the number of
\n new financing and leasing contracts increased by
\n 5.0% to 866,088 contracts (2025:
\n 824,672 contracts; Q2: 445,876 contracts; 2025: 421,861 contracts\/+5.7%).<\/p>\n
The penetration rate rose to 52.9%
\n (2025: 43.7%; Q2: 54.2% (2025: 44.4%).<\/p>\n
\u00a0<\/p>\n
For the year to the end of June, the segment reported profit
\n before tax (PBT) of \u20ac
\n 1,008 million (2025: \u20ac1,192 million\/-15.4%). The
\n year-on-year decline was attributable to an increase in the provision
\n for a UK customer compensation programme in the first quarter. In the
\n second quarter, substantially due to the higher portfolio volume and
\n the resulting increase in interest income, Financial Services reported
\n a significantly higher profit before tax of\u00a0\u20ac627
\n million (2025: \u20ac542 million\/+15.7%).<\/p>\n
\u00a0<\/p>\n
\n Guidance for 2026 confirmed\n<\/p>\n
Against the backdrop of the challenges outlined above, the BMW Group
\n confirms its guidance for the financial year 2026:<\/p>\n
Slight decline in Automotive Segment deliveries compared to the
\n previous year
\n Automotive Segment EBIT margin: within the range of 1\u20133%
\n Group earnings before tax: significant decrease
\n Automotive Segment RoCE: within the range of 1\u20135%
\n Return on equity (RoE) in the Financial Services segment: 13-16%
\n Motorcycles segment: deliveries expected in line with previous
\n year; EBIT margin expected within a corridor of 4.0\u20136.0% and RoCE
\n within a corridor of 10\u201314%<\/p>\n
\u00a0<\/p>\n
The BMW Group\u2019s actual business performance may deviate from the
\n expectations outlined above \u2013 for example, due to changes in political
\n and macroeconomic conditions.<\/p>\n
\n The BMW Group \u2013 an overview: IN Q2 2026\n <\/p>\n
\u00a0<\/p>\n
\n IN Q2 2026\n <\/p>\n
\n IN Q2 2025\n <\/p>\n
\n Change in %\n <\/p>\n
\n Deliveries to customers\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Automotive1<\/p>\n
units<\/p>\n
\n 590,947\n <\/p>\n
\n 621,477\n <\/p>\n
\n -4.9\n <\/p>\n
thereof: BMW<\/p>\n
units<\/p>\n
508,663<\/p>\n
550,839<\/p>\n
-7.7<\/p>\n
MINI<\/p>\n
units<\/p>\n
81,032<\/p>\n
69,223<\/p>\n
17.1<\/p>\n
Rolls-Royce<\/p>\n
units<\/p>\n
1,252<\/p>\n
1,415<\/p>\n
-11.5<\/p>\n
\n Motorcycles\n <\/p>\n
units<\/p>\n
\n 60,112\n <\/p>\n
\n 61,300\n <\/p>\n
\n -1.9\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Employees (as of 31 Dec. 2025)<\/p>\n
\u00a0<\/p>\n
\n 154,450\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
EBIT margin Automotive Segment<\/p>\n
percent<\/p>\n
2.3<\/p>\n
5.4<\/p>\n
-3.1 %-points<\/p>\n
EBIT margin Motorcycles Segment<\/p>\n
percent<\/p>\n
15.2<\/p>\n
14.2<\/p>\n
+1.0 %-points<\/p>\n
\n EBT margin BMW Group2<\/p>\n
percent<\/p>\n
\n 5.4\n <\/p>\n
\n 7.7\n <\/p>\n
\n -2.3 %-points\n <\/p>\n
\n Free cash flow Automotive Segment\n <\/p>\n
\u20ac million<\/p>\n
\n 513\n <\/p>\n
\n 1,932\n <\/p>\n
\n -73.4\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Revenues\n <\/p>\n
\u20ac million<\/p>\n
\n 31,259\n <\/p>\n
\n 33,927\n <\/p>\n
\n -7.9\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
27,162<\/p>\n
29,443<\/p>\n
-7.7<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
929<\/p>\n
961<\/p>\n
-3.3<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
10,151<\/p>\n
9,978<\/p>\n
1.7<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
3<\/p>\n
3<\/p>\n
–<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
-6,986<\/p>\n
-6,458<\/p>\n
8.2<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Profit before financial result (EBIT)\n <\/p>\n
\u20ac million<\/p>\n
\n 1,631\n <\/p>\n
\n 2,661\n <\/p>\n
\n -38.7\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
629<\/p>\n
1,602<\/p>\n
-60.7<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
141<\/p>\n
136<\/p>\n
3.7<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
647<\/p>\n
591<\/p>\n
9.5<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
-6<\/p>\n
-3<\/p>\n
–<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
220<\/p>\n
335<\/p>\n
-34.3<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Profit before tax (EBT)\n <\/p>\n
\u20ac million<\/p>\n
\n 1,697\n <\/p>\n
\n 2,614\n <\/p>\n
\n -35.1\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
559<\/p>\n
1,613<\/p>\n
-65.3<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
140<\/p>\n
136<\/p>\n
2.9<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
627<\/p>\n
542<\/p>\n
15.7<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
283<\/p>\n
177<\/p>\n
59.9<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
88<\/p>\n
146<\/p>\n
-39.7<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Group income taxes\n <\/p>\n
\u20ac million<\/p>\n
\n -497\n <\/p>\n
\n -772\n <\/p>\n
\n -35.6\n <\/p>\n
\n Net profit\n <\/p>\n
\u20ac million<\/p>\n
\n 1,200\n <\/p>\n
\n 1,842\n <\/p>\n
\n -34.9\n <\/p>\n
\n Earnings per share of common stock\n <\/p>\n
\u20ac<\/p>\n
\n 2.05\n <\/p>\n
\n 2.85\n <\/p>\n
\n -28.1\n <\/p>\n
\n 1 Deliveries include the joint venture BMW
\n Brilliance Automotive Ltd., Shenyang.<\/p>\n
\n 2 Ratio of Group earnings before taxes to Group revenues.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n The BMW Group \u2013 an overview: In H1 2026\n <\/p>\n
\u00a0<\/p>\n
\n H1 2026\n <\/p>\n
\n H1 2025\n <\/p>\n
\n Change in %\n <\/p>\n
\n Deliveries to customers\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Automotive1<\/p>\n
\n units\n <\/p>\n
\n 1,156,727\n <\/p>\n
\n 1,207,594\n <\/p>\n
\n -4.2\n <\/p>\n
thereof: BMW<\/p>\n
units<\/p>\n
1,004,669<\/p>\n
1,070,960<\/p>\n
-6.2<\/p>\n
MINI<\/p>\n
units<\/p>\n
149,535<\/p>\n
133,838<\/p>\n
11.7<\/p>\n
Rolls-Royce<\/p>\n
units<\/p>\n
2,523<\/p>\n
2,796<\/p>\n
-9.8<\/p>\n
\n Motorcycles\n <\/p>\n
units<\/p>\n
\n 102,847\n <\/p>\n
\n 105,909\n <\/p>\n
\n -2.9\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Employees (as of 31 Dec. 2025)\n <\/p>\n
\u00a0<\/p>\n
\n 154,540\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
EBIT margin Automotive Segment<\/p>\n
percent<\/p>\n
3.6<\/p>\n
6.2<\/p>\n
-2.6 %-points<\/p>\n
EBIT margin Motorcycles Segment<\/p>\n
percent<\/p>\n
13.5<\/p>\n
12.0<\/p>\n
+1.5 %-points<\/p>\n
\n EBT margin BMW Group2<\/p>\n
percent<\/p>\n
\n 6.5\n <\/p>\n
8.5<\/p>\n
-2.0 %-points<\/p>\n
\n Free cash flow Automotive Segment\n <\/p>\n
\u20ac million<\/p>\n
\n 1,290\n <\/p>\n
\n 2,345\n <\/p>\n
\n -45.0\n <\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Revenues\n <\/p>\n
\u20ac million<\/p>\n
\n 62,266\n <\/p>\n
\n 67,685\n <\/p>\n
\n -8.0\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
54,321<\/p>\n
58,654<\/p>\n
-7.4<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
1,708<\/p>\n
1,767<\/p>\n
-3.3<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
19,988<\/p>\n
20,104<\/p>\n
-0.6<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
6<\/p>\n
6<\/p>\n
–<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
-13,757<\/p>\n
-12,846<\/p>\n
7.1<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Profit before financial result (EBIT)\n <\/p>\n
\u20ac million<\/p>\n
\n 3,635\n <\/p>\n
\n 5,803\n <\/p>\n
\n -37.4\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
1,974<\/p>\n
3,626<\/p>\n
-45.6<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
230<\/p>\n
212<\/p>\n
8.5<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
1,000<\/p>\n
1,243<\/p>\n
-19.5<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
-4<\/p>\n
-9<\/p>\n
-55.6<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
435<\/p>\n
731<\/p>\n
-40.5<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Profit before tax (EBT)\n <\/p>\n
\u20ac million<\/p>\n
\n 4,045\n <\/p>\n
\n 5,727\n <\/p>\n
\n -29.4\n <\/p>\n
thereof: Automotive<\/p>\n
\u20ac million<\/p>\n
1,825<\/p>\n
3,517<\/p>\n
-48.1<\/p>\n
Motorcycles<\/p>\n
\u20ac million<\/p>\n
228<\/p>\n
211<\/p>\n
8.1<\/p>\n
Financial Services<\/p>\n
\u20ac million<\/p>\n
1,008<\/p>\n
1,192<\/p>\n
-15.4<\/p>\n
Other Entities<\/p>\n
\u20ac million<\/p>\n
826<\/p>\n
472<\/p>\n
75.0<\/p>\n
Eliminations<\/p>\n
\u20ac million<\/p>\n
158<\/p>\n
335<\/p>\n
-52.8<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\n Group income taxes\n <\/p>\n
\u20ac million<\/p>\n
\n -1,173\n <\/p>\n
\n -1,712\n <\/p>\n
\n -31.5\n <\/p>\n
\n Net profit\n <\/p>\n
\u20ac million<\/p>\n
\n 2,872\n <\/p>\n
\n 4,015\n <\/p>\n
\n -28.5\n <\/p>\n
\n Earnings per share of common stock\n <\/p>\n
\u20ac<\/p>\n
\n 4.73\n <\/p>\n
\n 6.23\n <\/p>\n
\n -24.1\n <\/p>\n
\n 1Deliveries include the joint venture BMW
\n Brilliance Automotive Ltd., Shenyang<\/p>\n
\u00a0<\/p>\n
\n 2Ratio of Group earnings before taxes to Group revenues.<\/p>\n
\u00a0<\/p>\n
\n \u00a0\n<\/p>\n
** As of 1 January 2025, the forecast range for Group EBT has been
\n adjusted. For details, please refer to the glossary in the BMW Group
\n Report 2024.<\/p>\n
\n \u00a0\n<\/p>\n
\n GLOSSARY \u2013 explanatory comments on key performance indicators\n<\/p>\n
\n \u00a0\n<\/p>\n
\n Deliveries to customers\n<\/p>\n
A new or used vehicle is recorded as a delivery once it is handed
\n over to the end user (which also includes leaseholders under lease
\n contracts with BMW Financial Services). In the US and Canada, end
\n users also include (1) dealers when they designate a vehicle as a
\n service loaner or demonstrator vehicle and (2) dealers and other third
\n parties when they purchase a company vehicle at auction and dealers
\n when they purchase company vehicles directly from the BMW Group.
\n Deliveries may be made by BMW AG, one of its international
\n subsidiaries, a BMW Group retail outlet, or independent third-party
\n dealers. The vast majority of deliveries \u2013 and hence the reporting of
\n deliveries to the BMW Group \u2013 is made by independent third-party
\n dealers. Retail vehicle deliveries during a given reporting period do
\n not correlate directly to the revenues that the BMW Group recognises
\n in respect of that particular reporting period.<\/p>\n
\u00a0<\/p>\n
\n Payout ratio\n<\/p>\n
The payout ratio is preliminary. Although the Board of Management and
\n the Supervisory Board will propose a fixed dividend per share at the
\n Annual General Meeting, the number of shares entitled to a dividend is
\n expected to fall by the Annual General Meeting due to the ongoing
\n share buy-back programme. Accordingly, the total amount to be
\n distributed to shareholders is also still expected to change by 13 May.<\/p>\n
\n EBIT\n<\/p>\n
Profit before financial result. Profit before financial result
\n comprises revenues less cost of sales, less selling and administrative
\n expenses and plus\/minus net other operating income and expenses.<\/p>\n
\u00a0<\/p>\n
\n EBIT margin\n<\/p>\n
Profit\/loss before financial result as a percentage of revenues.<\/p>\n
\n \u00a0\n<\/p>\n
\n EBT\n<\/p>\n
EBIT plus financial result.<\/p>\n
\n PHEV\n<\/p>\n
Plug-in-hybrid electric vehicle – hybrid vehicle with petrol engine
\n and electric drive.<\/p>\n
If you have any questions, please contact:<\/p>\n
\n \u00a0\n<\/p>\n
\n BMW Group Corporate Communications\n<\/p>\n
\n \u00a0\n<\/p>\n
Dr Britta Ullrich, Finance Communications<\/p>\n
Telephone: +49 89 382-18364<\/p>\n
Email: britta.ullrich@bmwgroup.com<\/p>\n
\u00a0<\/p>\n
Max-Morten Borgmann, head of Communications BMW Group, Finance, Sales<\/p>\n
Telephone: +49 89 382-24118<\/p>\n
Email: max-morten.borgmann@bmwgroup.com<\/a><\/p>\n \u00a0<\/p>\n Media website: www.press.bmwgroup.com\/deutschland<\/p>\n Email: presse@bmwgroup.com<\/a><\/p>\n \n \u00a0\n<\/p>\n \n The BMW Group\n<\/p>\n \u00a0<\/p>\n With its four brands, BMW, MINI, Rolls-Royce and BMW Motorrad, the \u00a0<\/p>\n In 2025, the BMW Group sold 2.46 million passenger vehicles and more \u00a0<\/p>\n The economic success of the BMW Group has always been based on \u00a0<\/p>\n www.bmwgroup.com<\/p>\n LinkedIn: http:\/\/www.linkedin.com\/company\/bmw-group\/<\/a><\/p>\n YouTube: https:\/\/www.youtube.com\/bmwgroup<\/a><\/p>\n Instagram: https:\/\/www.instagram.com\/bmwgroup<\/a><\/p>\n
\n BMW Group is the world\u2019s leading premium manufacturer of automobiles
\n and motorcycles and also provides premium financial services. The BMW
\n Group production network comprises over 30 production sites worldwide;
\n the company has a global sales network in more than 140 countries.<\/p>\n
\n than 202,500 motorcycles worldwide. The profit before tax in the
\n financial year 2025 was \u20ac 10.2 billion on revenues amounting to \u20ac
\n 133,5 billion. As of 31 December 2025, the BMW Group had a workforce
\n of 154,540 employees.<\/p>\n
\n long-term thinking and responsible action. Sustainability is a key
\n element of the BMW Group\u2019s corporate strategy and covers all products
\n \u2013 from the supply chain through production to the end of their useful life.\u00a0<\/p>\n