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BMW Group (BMW) investor relations material
BMW Group Q3 2025 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Intense competition in China has led to stabilized monthly sales volumes of around 50,000 units, with prices also stabilizing since September 2024.
Group profit before tax for Q3 2025 rose to €2,329 million, up from €838 million in Q3 2024, driven by higher fair value gains and improved operating performance outside China.
Global deliveries increased 2.4% year-over-year to 1,795,734 units, with strong growth in Europe (over 8%) and the U.S. (over 9%) offsetting weaker performance in China.
The Neue Klasse product line is expected to support business stabilization in China, with launches tailored to local needs and increased digital partnerships.
Global diversification and a technology-neutral, premium multi-brand strategy underpin resilience and optimism for future growth.
Financial highlights
Q3 2025 revenues were €32,314 million, nearly flat year-over-year; nine-month revenues declined 5.6% to €99,999 million.
Group net profit for Q3 was €1,697 million (Q3 2024: €476 million); nine-month net profit was €5,712 million, down 6.8% year-over-year.
Earnings per share for Q3 were €2.74 (Q3 2024: €0.64); for nine months, €8.97 (2024: €9.21).
Group EBT margin for Q3 was 7.2% (Q3 2024: 2.6%); for nine months, 8.1% (2024: 8.4%).
Nine-month profit before tax was €8,056 million, down 9.1% year-over-year, reflecting intense competition, higher tariffs, and currency headwinds.
Outlook and guidance
No rapid growth is expected in China for 2025 or 2026; stabilization is the focus, with potential for growth from 2027 onward as Neue Klasse ramps up.
Full-year 2025 group profit before tax expected to decrease slightly; Automotive EBIT margin forecast narrowed to 5–6% due to China headwinds and tariffs.
Deliveries of BMW, MINI, and Rolls-Royce vehicles expected to rise slightly year-over-year; BEV share in deliveries to remain at prior-year level.
ROCE for Automotive segment expected between 8% and 10%; Financial Services RoE forecast at 13–16%.
CO2 targets in Europe for 2025 and 2026 are expected to be met comfortably due to product mix and regulatory structure.
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Frequently asked questions
The Bavarian Motor Works
The Bayerische Motoren Werke, better known as BMW, is one of the most renowned automobile and motorcycle manufacturers globally. Founded in 1916, BMW is headquartered in Munich, Germany. The company has garnered a reputation for producing well-built premium cars and motorcycles, and its badge is one of the most respected in the automotive industry. Besides producing their BMW cars, the company also owns MINI and Rolls Royce.
Over 100 Years of Manufacturing
BMW's journey began during the First World War, during which the company produced aircraft engines. It wasn't until 1923 that BMW shifted gears, quite literally, to start producing motorcycles. The company subsequently began manufacturing automobiles in 1928 and one of the of BMW's automotive history was the introduction of the BMW 328 sports car in the late 1930s. It showcased BMW's commitment to design and performance, a commitment that is still evident in their vehicles today. The company's iconic blue and white logo, a symbol of a spinning propeller, pays homage to its aeronautical origins.
Today, the brand is one of the most recognizable automakers in the world. They compete with several other large brands such as Mercedes, Volkswagen, Stellantis, and several others.
An Array of High-performance Vehicles
BMW's vehicles are organized into series, each representing a different class of vehicle size, performance, and price point. This includes sedans, sport utility vehicles (SUVs), and sports cars. One of their more recognizable line of cars is their BMW 3 Series, known for its build quality and performance. Like many other car manufacturers, the company has recognized the demand from consumers for SUVs and crossovers BMW X Series, a line of SUVs and crossovers; and the coveted BMW M Series, a line of high-performance vehicles. The M Series is a testament to BMW's commitment and skill when it comes to performance. These models are equipped with more powerful engines, superior handling, and distinctive design elements that set them apart from their non-M counterparts.
Moving With the Times
BMW is not just a car manufacturer but also a technology company. BMW continues to stay ahead of the curve by integrating advanced technologies into its vehicles. BMW's cars are now equipped with features such as gesture control, touchscreen navigation, advanced safety systems, and comprehensive digital services. BMW, like all car manufacturers, also needs to prepare for a future that’s powered by electricity. The company has started to move with the times in regard to this and is now producing several models of electric vehicles within its iSeries range of models.
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