BMW expects its automobile segment to record a solid year-on-year increase in deliveries, according to the company’s press release. The segment’s EBIT margin is projected to rise to between 6% and 8%, up from 4.5% for 2020.
BMW forecasts strong performance across its segments which will drive its year-on-year pretax profit in 2021.
Around 90% of BMW will have fully electric models by 2023 and the BMW i4 model will be launched three months ahead of schedule.
Group’s revenues for 2020 totaled about 99 billion euros, a moderate year-on-year drop due to the coronavirus pandemic.
Group earnings before tax was 5.2 billion euros, with Group EBT margin of 5.3%.
R&D totaled almost 6.3 million euros in 2020
With a net profit of 1.25 billion euros, BMW Group will pay a dividend of 1.90 euros per share of common stock and 1.92 euros per share of preferred stock.
BMW stock is currently gaining. BMW is up 3.37%
