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.
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