2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
BMW closed the financial year with record results for the fourth time in a row. The shareholders can be happy too - especially three.
For the fourth time in a row, BMW ended a business year with new records. "In the past fiscal year we achieved new records in terms of sales and consolidated earnings and achieved all of our goals," said BMW boss Norbert Reithofer on Thursday in Munich.
BMW is aiming for two million sales
Although consolidated sales of 76 billion euros were one percent below the previous year's result, consolidated earnings before taxes (EBT) increased by 1.4 percent to a new record of 7.913 billion euros. As a group net profit of Munich were able to announce a rise of 4.5 percent new record of 5:34 billion euros.
Deliveries also rose 6.4 percent to 1.963 million units. In the coming year, BMW wants to crack the two million mark.
BMW raises dividend by ten cents
Due to the top values, the Executive Board and the Supervisory Board will propose to the Annual General Meeting on May 15 that the dividend be raised by ten cents to the new high of EUR 2.60 per common share and EUR 2.62 per preferred share, the company announced. A total of more than 1,707 billion euros would then be distributed.
The distribution will particularly benefit the three major shareholders Johanna Quandt, Stefan Quandt and Susanne Klatten, who together hold 46.7 percent of the ordinary shares. If you agree, you would collect almost 731 million euros in dividend payments.
China's largest single market for BMW
While BMW had to accept a minus of 0.7 percent with 859,546 sales in the difficult European market, things went much better in Asia and America. In Asia, over half a million vehicles were delivered for the first time, with 391,713 units sold in China alone. With an increase of 19.7 percent, the Middle Kingdom rose to become the largest single market.
Around 15,000 fewer vehicles were sold in the USA. But here too, 376,636 sales meant an increase of 8.1 percent compared to the previous year. "Our strategic approach is to achieve a globally balanced distribution of sales in the three major world regions and thus to avoid one-sided dependencies," said Reithofer. (AG / TF)