Bayerische Motoren Werke Ag · XETR:BMW
Bayerische Motoren Werke — BMW Group — FY2025 Earnings Presentation
18 slides from Bayerische Motoren Werke's earnings presentation, Mar 12, 2026
Slide 1: Annual Conference 2026
ANNUAL CONFERENCE 2026. MARCH 12, 2026 BMW Group Annual Conference March 2026 -1-
Slide 2: BMW Group Statement on Financial Year 2025 Results
BMW GROUP STATEMENT ON FINANCIAL YEAR 2025 RESULTS. WALTER MERTL MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE BMW Group Annual Conference March 2026 -2-
Slide 3: Fully leveraging our operating model to deliver solid results in 2025
FULLY LEVERAGING OUR OPERATING MODEL TO DELIVER SOLID RESULTS IN 2025 DESPITE A CHALLENGING ENVIRONMENT. Consistent execution of strategy and leveraging of flexible global structures, despite headwinds from tariffs, currency market developments and the intense market situation in China. Reduction of
Slide 4: BMW Group: Strong Group earnings of more than €10 billion
BMW GROUP. Strong Group earnings of more than €10 billion despite headwinds. 2025 2024 Change Group revenues 133,453 142,380 -6.3% [in m€] Group earnings before tax 10,236 10,971 -6.7% [EBT; in m€] Group EBT margin 7.7% 7.7% -- [in %] Earnings per share 11.89 11.62 +2.3% [in €] BMW Group Annual Conf
Slide 5: BMW Group: Segment performance
BMW GROUP. Segment performance. All three operational segments within respective guidance corridors. 2025 2024 Change Automotive Segment 6,259 7,893 -20.7% EBIT [in m€] EBIT Margin [in %] 5.3 6.3 -1.0%-pt Motorcycles Segment 178 198 -10.1% EBIT [in m€] EBIT Margin [in %] 5.7 6.1 -0.4%-pt Financial S
Slide 6: Automotive Segment: Year-on-year global volume growth
AUTOMOTIVE SEGMENT: YEAR-ON-YEAR GLOBAL VOLUME GROWTH. Sales in Europe and the United States overcompensated the development in China. Global retail (Group) Regional retail sales [in k units] [in k units] +0.5% 1,018 2,451 2,464 949 +7.3% 715 626 -12.5% 399 419 401 388 +5.0% +3.4% 2024 2025 Europe U
Slide 7: Electrified vehicles with global growth and 26% share
ELECTRIFIED VEHICLES WITH GLOBAL GROWTH AND 26% SHARE. Strong electrified performance in line with strategy – especially in Europe. xEV Retail (global) BEV / xEV Share per region [in k units] [in % of total FY 2025] +8.2% 642 BEV: 26.7% 593 xEV: 41.8% 200 BEV: 10.8% 167 BEV: 11.8% xEV: 16.8% xEV: 11
Slide 8: Automotive Segment Revenues
AUTOMOTIVE SEGMENT REVENUES. Decrease due to negative currency effects and global pricing pressure. Revenues [in m€] -5.9% 124,917 117,557 2024 2025 BMW Group Annual Conference March 2026 -8-
Slide 9: Automotive Segment EBIT
AUTOMOTIVE SEGMENT EBIT. Cost savings compensate for pricing & residual value headwinds, and partially for tariffs. [in bn€] 7.9 +0.9 -0.6 -0.1 6.3 +0.8 -0.8 -1.8 EBIT EBIT margin margin 6.3% 5.3% EBIT Net Effect Volume, R&D Selling & Depreci- Other EBIT 2024 FX / Com Mix , Price Expenses Admin. ati
Slide 10: R&D Expenditure
R&D EXPENDITURE. Reduction of nearly €800 million year-on-year. R&D expenditure ratio BMW Group 6.4% 6.2% 5.0% R&D expenditure -8.4% [in m€] 9,078 8,319 7,755 2023 2024 2025 BMW Group Annual Conference March 2026 - 10 -
Slide 11: Group Capital Expenditure
GROUP CAPITAL EXPENDITURE. Decrease in ratio from peak in 2024 of one percentage point. Group capex ratio BMW Group 6.4% 5.7% 5.4% Group capital expenditure [in m€] 9,056 -20.1% 8,836 7,237 2023 2024 2025 BMW Group Annual Conference March 2026 - 11 -
Slide 12: Automotive Segment Free Cash Flow
AUTOMOTIVE SEGMENT FREE CASH FLOW. Reconciliation EBT – FCF for 2025. [in bn€] +0.9 5.9 -2.3 +/-0 3.2 -1.3 EBT Working Invest / Provisions Other FCF 2025 Capital Depreciation 2025 BMW Group Annual Conference March 2026 - 12 -
Slide 13: Financial Services Segment
FINANCIAL SERVICES SEGMENT. Positive business development in Europe & improved environment in China. 2025 2024 Change Penetration Rate 46.6% 42.6% +4.0%-pts New contracts with customers 1,726,267 1,693,876 +1.9% New Contract Development Total volume of new customer 2024 vs 2025 65,818 64,519 +2.0% c
Slide 14: Motorcycles Segment
MOTORCYCLES SEGMENT. Over 200,000 units sold for fourth consecutive year. 2025 2024 Change Deliveries 202,563 210,385 -3.7% [in units] Revenues 3,143 3,220 -2.4% [in m€] Earnings before interest and tax 178 198 -10.1% [EBIT; in m€] EBIT margin 5.7% 6.1% -0.4%-pt BMW Group Annual Conference March 202
Slide 15: Consistent Dividend and Payout Ratio
CONSISTENT DIVIDEND AND PAYOUT RATIO. Group earnings Net profit Total proposed Proposed dividend before tax attributable to dividend payout per ordinary share [in bn€] BMW AG [in bn€] [in €] shareholders Payout Ratio [in %] 10.97 [in bn€] 10.24 2024 4.30 7.29 7.29 2025 4.40 2.68 2.67 36.7% 36.6% 202
Slide 16: Outlook 2026
OUTLOOK 2026. BMW GROUP AUTOMOTIVE MOTORCYCLES FINANCIAL SERVICES Group earnings before tax Deliveries Deliveries Return on Equity Moderate decrease At previous year’s level At previous year’s level 13 to 16% Size of workforce EBIT margin EBIT margin Slight decrease 4 to 6% 4 to 6% Return on Capital
Slide 17: BMW Group: Continue to implement our strategic course in 2026
BMW GROUP: CONTINUE TO IMPLEMENT OUR STRATEGIC COURSE IN 2026. Continued launch of NEUE KLASSE product offensive and the rollout of its technologies across the portfolio, including in new 3 Series, 7 Series model update and new X5. Leverage flexibility in global business model to tackle the challeng
Slide 18: Consumption and Emission Data
CONSUMPTION AND EMISSION DATA. BMW M440i xDrive Gran Coupé . BMW iX1 xDrive30. Fuel consumption in l/100km WLTP (combined): 8.7 – 8.2; Power consumption in kWh/100km (combined): 18.1 – 16.8; CO₂ emissions in g/km WLTP: 199-186; CO₂ emissions in g/km WLTP: 0; CO₂ class: G. BMW i4 M50. BMW iX3 50 xDri