The Luxonomist, Author at The Luxonomist

The BMW Group continued its successful course during its 101st year, reporting its best ever figures to date for sales volume, revenues and earnings. "2016 was the first step in the NEXT 100 YEARS of the BMW Group. We have turned our centenary year into the most successful 12-month period in our corporate history and posted new record levels in terms of revenues and earnings for the seventh year in a row," stated Harald Krüger, Chairman of the Board of Management of BMW AG in Munich on Thursday. "We are fully focused on implementing our Strategy NUMBER ONE > NEXT, guiding the BMW Group along the "ACES" route: Automated, Connected, Electrified and Shared." Group revenues rose to a new record level In the first year of Strategy NUMBER ONE > NEXT, the BMW Group announced its cooperation with Intel and Mobileye in the field of highly and fully automated driving, launched the ReachNow car-sharing service in the USA and set out the next steps in its electrification strategy. "From 2019 onwards, we will be firmly embedding all-electric, battery-powered mobility in our core brands. The electric MINI and the electric BMW X3 will be visible proof of how we are embracing innovations introduced with BMW i on a broader scale," commented Krüger. The BMW iNEXT, set for launch in 2021, will be the BMW Group's new technological spearhead. "The iNEXT will embody the future of mobility, setting new standards for automated driving, electric mobility, connectivity and design alike," Krüger continued. Moreover, the BMW Group will launch further plug-in hybrid models powered by both electric and combustion engines; the electrified BMW 5 Series and MINI Countryman will be on the market in 2017. New sales volume, revenues and earnings records in 2016 Automotive sales volume climbed by 5.3% to a new record level of 2,367,603 units (2015: 2,247,485 units) in 2016. With its three premium brands, BMW, MINI and Rolls-Royce, the BMW Group remained the world's leading manufacturer of premium vehicles. Sales of electrified vehicles almost doubled to over 62,000 units in 2016. Sales of the all-electric BMW i3 have risen every year since the model was launched in 2013 and the BMW Group aims to sell a total of 100,000 electrified vehicles for the first time in a single year in 2017. Dividend of €3.50 per share of common stock proposed Group revenues rose to a new record level of € 94,163 million (2015: € 92,175 million; +2.2%) in 2016, more than twice the figure reported in 2005 (€ 46,656 million). Profit before financial result (EBIT) amounted to € 9,386 million (2015: € 9,593 million), slightly down (-2.2%) on the previous year's record figure. Group profit before tax (EBT) increased by 4.8% to a new high level of € 9,665 million (2015: € 9,224 million). All three operating segments – Automotive, Motorcycles and Financial Services – achieved record pre-tax earnings in 2016, making an all-round contribution to earnings growth. The pre-tax return on sales (EBT margin) for the Group improved to 10.3% (2015: 10.0%). From the financial year 2017, the BMW Group has introduced "return on sales" as an additional indicator and is targeting a figure of at least 10%. Group net profit rose by 8.0% year on year to € 6,910 million (2015: € 6,396 million), also setting a new all-time Group record. Sales of electrified vehicles almost doubled to over 62,000 units in 2016 The BMW Group's successful performance is also reflected in its creditworthiness. The rating agency Moody's, for instance, has raised its long-term rating for the BMW Group to A1, highlighting the company's track record of robust operational performance and repeated ability to launch innovative products. Nicolas Peter, member of the Board of Management of BMW AG, responsible for Finance, stated: "The BMW Group demonstrated its operational strength in 2016 and now holds the second-best rating of all automobile manufacturers worldwide. Our excellent creditworthiness is also an expression of the trust the BMW Group has earned itself over the years through stability and continuity. Achieving our ambitious targets in 2016 is further evidence of this ability. We are convinced that innovative strength and high profitability go hand in hand. Our financial strength today is the firm basis for future innovation and thus for our success tomorrow. We remain committed to this strategy."

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