
MUNICH (dpa-AFX) - BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) reported fiscal 2023 net profit of 12.16 billion euros, down 34.5% from last year. Earnings per share of common stock was 17.67 euros compared to 27.31 euros. Earnings before financial result, or EBIT was 18.48 billion euros, an increase of 32.0%. In the Automotive Segment, EBIT was 12.98 billion euros, up 22.1% from prior year.
Group revenues for the full year was 155.50 billion euros, up 9.0%. Automotive revenues were 132.3 billion euros, up 7.0%. A total of 2,554,183 premium vehicles were delivered to customers, up 6.4%.
For 2024, the company expects earnings before tax will decrease slightly. The company is aiming to achieve an Automotive EBIT margin of 8-10% for the current fiscal year. The BMW Group expects to see a slight increase in deliveries in the Automotive Segment in 2024.
The Board of Management and Supervisory Board will propose a dividend of 6.00 euros per share of common stock, and 6.02 euros per share of preferred stock to the Annual General Meeting on 15 May.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News