BMW Group has reported a year of robust growth and significant strides in its electrification journey, illustrating a steadfast commitment to its forward-thinking strategy. The company achieved a Group EBT (Earnings Before Taxes) margin of 11.0% for the year, surpassing its strategic target of 10% and showcasing an adept balance of ambitious investments and fiscal prudence. The Automotive EBIT (Earnings Before Interest and Taxes) margin stood at a commendable 9.8%, aligning with the forecasted range and reflecting the group's operational efficiency.
Electrification At The Forefront
A pivotal highlight of BMW's 2023 journey is the marked acceleration in its electrification efforts. With 375,716 fully electric vehicles delivered, representing a 15% share of total sales, BMW not only met its forecast but also underlined its role as a catalyst in the industry's transition to sustainable mobility. This surge in electric vehicle (EV) deliveries, a whopping 74.1% increase from the previous year, signifies a strategic shift that resonates with the global demand for cleaner, greener transportation solutions.
Environmental Commitment Evident
The reduction of CO2 emissions remains a cornerstone of BMW's environmental strategy. Achieving a European fleet CO2 emission level of 102.1 g/km, the company comfortably positioned itself below the EU's stringent 128.5 g/km limit. This achievement not only underscores BMW's commitment to environmental stewardship but also highlights the effectiveness of its electrification strategy in contributing to broader climate goals.
Innovation As A Driving Force
BMW's unwavering focus on innovation is evident in its increased R&D spending, which reached €7,538 million in 2023. This investment fuels the development of cutting-edge technologies and the next generation of electrified and digitalised vehicles, ensuring BMW's competitive edge in a rapidly evolving industry. The emphasis on research and development is a clear signal of BMW's dedication to leading the charge in automotive innovation.
Dividends & Shareholder Value
Reflecting its financial robustness, BMW proposed a dividend of €6.00 per share of common stock, underscoring its commitment to sharing success with its shareholders. While this represents a dip from the previous year, it aligns with the company's prudent financial strategy and investment in future growth areas, particularly electrification and digitalisation.
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