Bayerische Motoren Werke Ag · XETR:BMW
Bayerische Motoren Werke — Bayerische Motoren Werke Aktiengesellschaft — H1 2025 Earnings Presentation
73 slides from Bayerische Motoren Werke's earnings presentation, Jul 29, 2025
Slide 1: Half-Year Report 30 June 2025
30 JUNE 2025 HALF-YEAR REPORT
Slide 2: Contents
2 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information CONTENTS 3 BMW Group at a Glance 7 Interim Group Management Report 26 Interim Group Financial Statements 69 Other Information
Slide 3: BMW Group at a Glance
3 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information BMW GROUP AT A GLANCE 4 BMW Group in Figures
Slide 4: BMW Group in Figures
4 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information BMW Group in Figures BMW GROUP IN FIGURES KEY PERFORMANCE INDICATORS 1 January to 1 January to 2nd quarter 2025 2nd quarter 2024 Change in % 30 June 2025 30 Ju
Slide 5: Further Performance Figures
5 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information BMW Group in Figures FURTHER PERFORMANCE FIGURES 1 January to 1 January to 2nd quarter 2025 2nd quarter 2024 Change in % 30 June 2025 30 June 2024 Change in %
Slide 6: Further Performance Figures
6 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information BMW Group in Figures FURTHER PERFORMANCE FIGURES 1 January to 1 January to 2nd quarter 2025 2nd quarter 2024 Change in % 30 June 2025 30 June 2024 Change in %
Slide 7: Interim Group Management Report
7 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information INTERIM GROUP MANAGEMENT REPORT 8 Financial Performance 8 General Economic Environment 9 Group Overview 13 Automotive Segment 18 Financial Services Segment 20
Slide 8: Financial Performance
8 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance 8 9 General Economic Environment Group Overview FINANCIAL PERFORMANCE 13 Automotive Segment 18 Financial Services Segment 20 Other Entiti
Slide 9: Group Overview
9 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance GROUP OVERVIEW International automobile markets – an overview 8 General Economic Environment The largest markets for automobiles performe
Slide 10: Second quarter impacted by higher customs expenses
10 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance Second quarter impacted as expected by higher customs expenses Accordingly, profit before tax fell significantly in the second quarter o
Slide 11: Capitalisation rate rose to 36.9%
11 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance The capitalisation rate rose to 36.9% for reasons relating to the project The financial result deteriorated by € –168 million year on ye
Slide 12: Share buyback programme
12 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance Share buyback programme The first tranche of the third share buyback programme will be carried out 8 General Economic Environment The se
Slide 13: Automotive Segment
13 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance 8 General Economic Environment AUTOMOTIVE SEGMENT 9 Group Overview 13 Automotive Segment 1 January to 1 January to 18 Financial Services
Slide 14: Deliveries of electrified automobiles
14 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance The BMW Group delivered a total of 319,031 electrified automobiles in the Among the most successful BMW models were the business-class 8
Slide 15: Deliveries of vehicles by region and market
15 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance BMW Group – deliveries of vehicles by region and market 8 General Economic Environment 9 Group Overview 1 January to 1 January to 13 Aut
Slide 16: Automotive segment EBIT margin of 5.4%
16 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance Automotive segment with second-quarter EBIT margin of 5.4% Segment profit before taxes in the second quarter 2025 amounted to 8 General
Slide 17: Automotive profit before financial result and free cash flow
17 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance Profit before financial result in the reporting period amounted to The free cash flow of the Automotive segment amounted to € 2.345 mill
Slide 18: Financial Services Segment
18 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance 8 General Economic Environment FINANCIAL SERVICES SEGMENT 9 Group Overview 13 Automotive Segment 1 January to 1 January to 18 Financial
Slide 19: Financial Services new business and dealership financing
19 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance increased to 40.0% of all new business (2024: 35.5%; +4.5 percentage Significant decrease in dealership financing 8 General Economic Env
Slide 20: Other Entities Segment and Eliminations
20 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Financial Performance 8 General Economic Environment OTHER ENTITIES SEGMENT AND 9 Group Overview 13 Automotive Segment ELIMINATIONS 18 Financial Services Segm
Slide 21: Outlook, Risk and Opportunity Management
21 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Outlook, Risk and Opportunity Management 8 9 General Economic Environment Group Overview OUTLOOK, RISK AND OPPORTUNITY MANAGEMENT 13 Automotive Segment 18 Fin
Slide 22: Market development and outlook assumptions
22 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Outlook, Risk and Opportunity Management In the USA, the positive market development is expected to continue for the The increased controls on issuing the lic
Slide 23: Depreciation and R&D outlook
23 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Outlook, Risk and Opportunity Management Depreciation will increase due to investments and capitalised development The RoE in the Financial Services segment i
Slide 24: BMW Group key performance indicators
24 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Outlook, Risk and Opportunity Management BMW Group – key performance indicators 8 General Economic Environment The key performance indicators of the BMW Group
Slide 25: Risk and Opportunity Management
25 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Outlook, Risk and Opportunity Management 8 General Economic Environment RISK AND OPPORTUNITY 9 Group Overview 13 Automotive Segment MANAGEMENT 18 Financial Se
Slide 26: Interim Group Financial Statements
26 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information INTERIM GROUP FINANCIAL STATEMENTS 27 Income Statement for Group and Segments for the period from 1 April to 30 June 29 Condensed Statement of Comprehensive I
Slide 27: Income Statement for Group and Segments, Q2
27 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Income Statement for Group and Segments INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 APRIL TO 30 JUNE 1 Group Automotive Motorcycles in € mil
Slide 28: Income Statement for Group and Segments, Q2
28 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Income Statement for Group and Segments INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 APRIL TO 30 JUNE * Financial Services Other Entities Eli
Slide 29: Condensed Statement of Comprehensive Income, Q2
29 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Condensed Statement of Comprehensive Income for Group CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR GROUP FOR THE PERIOD FROM 1 APRIL TO 30 JUNE * in € mili
Slide 30: Income Statement for Group and Segments, H1
30 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Income Statement for Group and Segments INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Group Automotive1 Motorcycles1 in € m
Slide 31: Income Statement for Group and Segments, H1
31 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Income Statement for Group and Segments INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Financial Services* Other Entities* E
Slide 32: Condensed Statement of Comprehensive Income, H1
32 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Condensed Statement of Comprehensive Income for Group CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR GROUP FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE in € mili
Slide 33: Balance Sheet for Group and Segments: Assets
33 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Balance Sheet for Group and Segments BALANCE SHEET FOR GROUP AND SEGMENTS AT 30 JUNE 2025 Group Automotive* Motorcycles* in € million Note 30.6.2025 31.12.202
Slide 34: Balance Sheet for Group and Segments: Assets
34 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Balance Sheet for Group and Segments BALANCE SHEET FOR GROUP AND SEGMENTS AT 30 JUNE 2025 Financial Services* Other Entities* Eliminations* in € million Note
Slide 35: Balance Sheet: Equity and Liabilities
35 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Balance Sheet for Group and Segments BALANCE SHEET FOR GROUP AND SEGMENTS AT 30 JUNE 2025 Group Automotive* Motorcycles* in € million Note 30.6.2025 31.12.202
Slide 36: Balance Sheet: Equity and Liabilities
36 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Balance Sheet for Group and Segments BALANCE SHEET FOR GROUP AND SEGMENTS AT 30 JUNE 2025 Financial Services* Other Entities* Eliminations* in € million Note
Slide 37: Condensed Cash Flow Statement
37 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Condensed Cash Flow Statement for Group and Segments CONDENSED CASH FLOW STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Group Autom
Slide 38: Statement of Changes in Group Equity
38 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Statement of Changes in Group Equity STATEMENT OF CHANGES IN GROUP EQUITY FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Accumulated other equity Derivative Subscri
Slide 39: Statement of Changes in Group Equity
39 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Statement of Changes in Group Equity STATEMENT OF CHANGES IN GROUP EQUITY FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Accumulated other equity Derivative Subscri
Slide 40: Statement of Changes in Group Equity
40 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Statement of Changes in Group Equity STATEMENT OF CHANGES IN GROUP EQUITY FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Equity attributable to in € million Note Tr
Slide 41: Notes: Accounting Principles and Policies
41 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements xx Accounting Principles and Policies 41 Xx Notes to the Income Statement 44 NOTES TO THE GROUP FINANCIAL STATEMENTS X
Slide 42: Group reporting entity
42 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 02 Group reporting entity 03 Financial reporting rules 41 Accounting Principles and Policies The BMW Group Financial S
Slide 43: Other significant events
43 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 04 Other significant events Global tariff and trade policies 41 Accounting Principles and Policies Impairment tests Th
Slide 44: Notes to the Income Statement
44 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 41 Accounting Principles and Policies NOTES TO THE INCOME 44 Notes to the Income Statement 47 Notes to the Balance She
Slide 45: Other operating income and expenses
45 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 06 Other operating income and expenses 41 Accounting Principles and Policies These line items principally include gain
Slide 46: Other financial result
46 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 08 Other financial result 41 Accounting Principles and Policies Other financial result developed as follows: 44 Notes
Slide 47: Notes to the Balance Sheet
47 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 39 Accounting Principles and Policies 41 NOTES TO THE BALANCE SHEET 42 Notes to the Income Statement 44 45 Notes to th
Slide 48: Equity
48 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 14 Equity Treasury shares 41 Accounting Principles and Policies The Group Statement of Changes in Equity is shown in t
Slide 49: Income tax liabilities
49 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 15 Income tax liabilities 17 Other liabilities 41 Accounting Principles and Policies Current income taxes amounting to
Slide 50: Other Disclosures
50 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 41 Accounting Principles and Policies OTHER DISCLOSURES 44 Notes to the Income Statement 47 Notes to the Balance Sheet
Slide 51: Contingent liabilities: NHTSA airbag recall
51 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements In May 2023, the National Highway Traffic Safety Administration (NHTSA), vehicles, the Munich public prosecutor’s offi
Slide 52: Internal investigation and UK motor finance cases
52 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Furthermore, the BMW Group is conducting an internal investigation, sup- In the United Kingdom, motor finance customer
Slide 53: Financial instruments
53 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 20 Financial instruments xx Accounting Principles and Policies 41 Information regarding the recognition and measuremen
Slide 54: Financial instruments measured at fair value
54 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Disclosures relating to financial instruments measured at fair value 41 Accounting Principles and Policies The carryin
Slide 55: Level 3 financial instruments
55 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Financial instruments classified to Level 3 and measured at fair value com- Since the pricing from the financing round
Slide 56: Level 3 carrying amount development
56 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements The balance sheet carrying amount of Level 3 financial instruments 41 Accounting Principles and Policies developed as
Slide 57: Related party relationships
57 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 21 Related party relationships DELTON Technology SE, Bad Homburg v.d.H., as well as the sole share- 41 Accounting Prin
Slide 58: Transactions with related entities
58 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Seen from the perspective of BMW Group entities, the volume of significant 41 Accounting Principles and Policies trans
Slide 59: Transactions with joint ventures and associates
59 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements In total, the following amounts of goods and services were supplied to or xx Accounting Principles and Policies 41 rec
Slide 60: Segment Information
60 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 41 Accounting Principles and Policies SEGMENT INFORMATION 44 Notes to the Income Statement 47 Notes to the Balance She
Slide 61: Segment information, first six months
61 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Segment information by operating segment for the first six months is as 41 Accounting Principles and Policies follows:
Slide 62: Segment information, second quarter
62 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Segment information by operating segment for the second quarter is as 41 Accounting Principles and Policies follows*:
Slide 63: Segment assets
63 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements 41 Accounting Principles and Policies Automotive Motorcycles Financial Services 44 Notes to the Income Statement in €
Slide 64: Reconciliation to Group figures
64 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Reported segment information can be reconciled to the corresponding 41 Accounting Principles and Policies Group figure
Slide 65: Segment assets reconciliation
65 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Total segment assets can be reconciled to total Group assets as follows: 41 Accounting Principles and Policies 44 Note
Slide 66: Board of Management signatures
66 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Notes to the Group Financial Statements Munich, 29 July 2025 Bayerische Motoren Werke Aktiengesellschaft The Board of Management Oliver Zipse Jochen Goller Il
Slide 67: Responsibility Statement
67 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Responsibility Statement by the Company’s Legal Representatives RESPONSIBILITY STATEMENT BY THE COMPANY’S LEGAL REPRESENTATIVES “To the best of our knowledge,
Slide 68: Review Report
68 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Review Report REVIEW REPORT To Bayerische Motoren Werke Aktiengesellschaft, München audit. Since, in accordance with our engagement, we have not performed a W
Slide 69: Other Information
69 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information OTHER INFORMATION 70 Consumption and Carbon Disclosures 73 Contacts
Slide 70: Consumption and Carbon Disclosures
70 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Consumption and Carbon Disclosures CONSUMPTION AND CARBON DISCLOSURES As of July 2025 Figures based on WLTP Fuel consumption Energy consumption combined or we
Slide 71: Consumption and Carbon Disclosures
71 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Consumption and Carbon Disclosures As of July 2025 Figures based on WLTP Fuel consumption Energy consumption combined or weighted combined CO₂ emissions combi
Slide 72: Consumption and Carbon Disclosures
72 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Consumption and Carbon Disclosures As of July 2025 Figures based on WLTP Fuel consumption Energy consumption combined or weighted combined CO₂ emissions combi
Slide 73: Contacts
73 BMW Group Half-Year Report 2025 BMW Group at a Glance Interim Group Management Report Interim Group Financial Statements Other Information Contacts CONTACTS BUSINESS AND FINANCE PRESS THE BMW GROUP ON THE INTERNET PUBLISHED BY Telephone + 49 89 382-2 45 44 Further information about the BMW Group
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