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March 16, 2023: On Wednesday, German automaker BMW set out targets to barely increase margins for its automotive area and increase deliveries this year as it is pushing ahead with the rollout of its electric fleet.
The firm expects an EBIT margin of 8-10% for its automotive range in 2023, with deliveries set to increase slightly from 2022 and “selling prices staying at a stable level.” It forecasts the used car business will normalize this year “because of the increased availability of new cars.”
Shares of BMW increase by 1.07% at 8:20 a.m. London time, after the announcement.
“A high level of flexibility, as combined with our operational performance, confirmed to be an effective combination for making sure that the success of the BMW Group, even in the encounter of headwinds and have the advantage of opportunities for profitable surge,” Oliver Zipse, chairman of the board of management of BMW AG, stated in a press statement.
Such as rivals, BMW has been contending with global semiconductor shortages and supply chain disruptions, which challenge it to fulfil its book order.
The firm confirmed the full-year 2022 results reported last week, which include an EBIT of 10.6 billion euros for its automotive segment, which had an 8.6% margin last year. The company posted its automotive cash flow near 11.1 billion euros.
As a result, it proposes a dividend of 8.50 euros per common stake share, in comparison with a 5.80 euro payout for a similar stock in the last year.
“We don’t look at every drive trend or one segment or one area in the world, and I think this plays very nicely in what we stated a couple of years before,” Zipse said. “And now we’re executing this plan. And it looks such as the plan we are executing here is successful on the revenue and market share sides.”
He stressed that the BMW strategy would continue to prioritize profitability, downplaying the effect of zooming inflation rates on consumer demand,
“Whether inflation has an input is a matter of whether you can have pricing power in the market,” he stated. “With that international approach we have here, I would be cautiously optimistic regarding the year, and we will have an increase in volume overall.”
The company stated that the appointment of a recent chief financial officer on March 9, Walter Mertl, assumed the role in May after the retirement of Nicolas Peter at the time.
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