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BMW Group (BMW) investor relations material
BMW Group Q2 2025 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 (Q&A) earnings summary31 Jul, 2025
Outlook and guidance
Full-year guidance for group profitability and free cash flow is reaffirmed, with expectations of €5 billion free cash flow and a 5–7% EBIT margin, despite regional challenges and market volatility.
Sequential improvement in earnings and free cash flow is anticipated in H2, supported by lower CapEx, declining fixed costs, and favorable working capital seasonality in Q4.
Slight increase in deliveries expected for BMW, MINI, and Rolls-Royce brands, with BEV share to rise slightly.
Group profit before tax expected to remain in line with last year; Financial Services RoE forecasted at 13–16%.
Ongoing risks from tariffs, currency effects, and high competition in China; positive impact expected from new model launches and easing raw material markets.
Segment performance
European market momentum is robust, driven by replacement demand and a broad, attractive product portfolio across all segments, including premium and electric vehicles.
China volumes are under pressure due to dealer network restructuring and market dynamics, but healthy dealers continue to perform well; restructuring expected to complete by year-end with a 10% reduction in dealer points.
Rolls Royce continues to deliver strong results, with average revenue per car above €500,000 and bespoke orders exceeding 50%; Goodwood expansion underway to support high individualization demand.
Automotive H1 revenues were €58,654 million (down 6.9% y/y), with an EBIT margin of 6.2% and profit before tax of €3,517 million (down 34.0%).
Electrified vehicles (BEV and PHEV) accounted for 26.4% of deliveries, with BEV share rising to 18.3% in H1.
Key financial ratios and metrics
Auto EBIT for H1 stands at €3.6 billion, with total group profit at €5.7 billion, providing a solid base for full-year targets.
Free cash flow in Automotive segment: €2,345 million for H1, up 2.4% year-over-year.
Group EBT margin: 8.5% for H1 (down from 10.9%); Automotive EBIT margin: 6.2% for H1 (down from 8.6%).
Return on capital employed (ROCE) Automotive: 11.4% in 2024, expected 9–13% in 2025.
CapEx is lower year-over-year and expected to remain below last year's level for the full year.
How will dealer restructuring impact volume?
Is BMW pursuing bolt-on tariff negotiations?
Is Q2 the margin trough for the year?
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Q3 20255 Nov, 2025
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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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