Bayerische Motoren Werke AG

BMW

Equity

ISIN DE0005190003 / Valor 324410

Xetra (2026-05-27)

EUR 77.40-0.24%

Bayerische Motoren Werke AG
UMushroom community rating:

4.00 8 votes No rating yet

NegativeNeutralPositive

About company

Bayerische Motoren Werke AG (BMW Group) is a prominent global entity in the automotive industry, renowned for its premium vehicles and motorcycles under the BMW, MINI, Rolls-Royce, and BMW Motorrad brands. The company has demonstrated a strong commitment to electromobility, with a significant increase in the delivery of fully-electric vehicles, marking a 27.9% year-on-year growth. This surge is attributed to a well-balanced performance across all major global regions. In 2023, BMW Group reported the delivery of 2,554,183 premium vehicles, achieving a 6.4% increase compared to the previous year and securing a 3.3% market share. This growth underscores the company's ability to maintain profitable expansion and reinforce its leadership in the global premium segment amidst volatile market conditions and intense competition. BMW Group operates over 30 production sites worldwide and maintains a comprehensive global sales network, further solidifying its position as a leading manufacturer of premium cars and motorcycles, as well as a provider of premium financial and mobility services. The company's focus on sustainability and resource conservation is integral to its product development and corporate strategy, aiming to meet the evolving needs of its customers.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Group Q3 headline

Q3 revenues €32,314m (flat vs prior year), Q3 EBT €2,329m (up from €838m) and Q3 EBT margin 7.2%. Nine‑month revenues €99,999m and nine‑month EBT €8,056m (down ~9% YoY).

Automotive performance

Automotive revenues Q3 €28,510m (+2.4% YoY); Q3 Automotive EBIT €1,494m (EBIT margin 5.2%). Nine‑month Automotive revenues €87,164m (–4.1%) and EBIT €5,120m (EBIT margin 5.9%), impacted by tougher China competition and additional tariffs.

Deliveries & electrification

Q3 deliveries 588,140 vehicles (+8.7% YoY); nine‑month deliveries 1,795,734 (+2.4% YoY). BEV share for the nine months rose to 18.0% (2024: 16.8%); combined BEV+PHEV share 26.2% (2024: 23.3%).

Profit drivers and headwinds

Q3 profit uplift reflected operating improvement and favourable fair‑value moves in financial result; headwinds included intensified competition in China and higher customs/anti‑subsidy tariffs (reducing Automotive margin by ~1.5–1.75 ppt). R&D and selling/admin cost discipline supported results.

Financial Services

Q3 new financing/leasing contracts 450,935 (+12.1% YoY); nine‑month new contracts 1,275,607 (+1.9%). Q3 Financial Services PBT €644m (–3.2% YoY); nine‑month PBT €1,836m (–14.4%), with lower revenues from remarketing of lease returns contributing to the decline.

Cash, liquidity and returns to shareholders

Group liquidity ~€19.8bn at 30 Sept 2025. Automotive free cash flow for the nine months improved to €2,688m (prior year –€191m). Board initiated a third share buyback (up to €2.0bn) in May 2025; first tranche repurchases completed through 30 Sept 2025.

R&D and cost trends

Group R&D expenditure fell: Q3 R&D €1,921m (–22.3% YoY); nine‑month R&D €5,941m (–10.6% YoY). Capitalisation rate rose (38.7% vs 35.3% prior year) related to NEUE KLASSE development phases. Selling and administrative costs were slightly lower YoY.

Outlook

The company states it remains on track and confident in achieving its adjusted 2025 targets, citing continued cost discipline, product campaign progress (including NEUE KLASSE preparation) and a stable overall sales trajectory despite China market pressures.

Summarized from source with an LLMView Source

Key figures

-2.01%1Y

-28.0%3Y

-12.8%5Y

Performance

28.7%1Y

28.1%3Y

28.4%5Y

Volatility