Bayerische Motoren Werke AG

Latest Results (16.05.2026):

Bayerische Motoren Werke AG — third quarter 2025: The BMW Group reported solid third‑quarter 2025 results with Group revenues of €32,314 million (Q3 2024: €32,406m; –0.3% y/y) and a much stronger quarter‑level profit before tax of €2,329 million (Q3 2024: €838m). Group profit before financial result (EBIT) rose to €2,261 million (+33.3% y/y). Automotive deliveries were robust at 588,140 units in Q3 (+8.7% y/y) and electrified vehicle share continued to grow (18.0% BEV share for the first nine months). Management reiterates it remains on track to achieve adjusted full‑year targets.

Revenue & group profitability (Q3 2025)

Group revenue: €32,314m (Q3 2024: €32,406m, –0.3%); Group EBIT: €2,261m (+33.3% y/y); Group EBT: €2,329m (Q3 2024: €838m). The quarter benefited from improved operating profit and positive fair‑value effects in the financial result versus a year ago.

Automotive segment (Q3 2025)

Automotive revenues in Q3: €28,510m (+2.4% y/y adjusted for currency); Automotive EBIT: €1,494m (EBIT margin 5.2% in Q3), within the company’s target range for the year despite headwinds from China and additional tariff‑related customs costs.

Deliveries & electrification

Deliveries in Q3: 588,140 units (+8.7% y/y). For the first nine months the Group delivered 1,795,734 units (+2.4% y/y). Electrified vehicles continued to gain share: BEVs were 18.0% of deliveries for the first nine months and combined BEV+PHEV share rose to 26.2% YTD.

Financial Services

Financial Services Q3 revenues: €9,607m (+3.0% y/y); EBIT: €624m (Q3 2024: €760m); profit before tax: €644m (Q3 2024: €665m). New leasing/credit contracts rose strongly in Q3 to 450,935 (+12.1% y/y); portfolio vehicles stood at ~4.88 million at 30 Sep 2025.

Cash flow & balance sheet highlights

Automotive free cash flow for the first nine months improved to €2,688m (YTD 2024: –€191m), supported by lower investing cash outflows and stronger operating cash generation. Group liquidity was ~€19.8bn at 30 Sep 2025.

Capital allocation and buybacks

BMW completed portions of prior buybacks and launched a third share buyback programme (up to €2bn) on 20 May 2025. Under the first tranche through 30 Sep 2025 the company repurchased common and preferred shares (reported as treasury stock).

Outlook

Management states the Group remains on track to meet its adjusted 2025 targets, while cautioning that China market weakness, competitive pressures and tariffs remain headwinds for the Automotive segment.