AutoBeta(AutoBeta.net)03/13 Report--

On March 13, BMW Group released its results for the fourth quarter and full year of fiscal 2019. According to the financial report, BMW Group achieved revenue of 104.2 billion euros (817.7 billion yuan) in 2019, up 7.6 percent from 96.855 billion euros in 2018, and this is the first time that BMW Group has exceeded 100 billion euros. Revenue has increased, but net profit has declined. BMW Group achieved net profit of 5.022 billion euros (39.4 billion yuan) in 2019, down 28.9 percent from 7.064 billion euros in 2018. Of this total, BMW Group's revenue in the fourth quarter of 2019 was 29.366 billion euros, up 19.9 percent from 24.482 billion euros last year. Net profit in the fourth quarter was 1.408 billion euros (11 billion yuan), up 6.7 percent from 1.319 billion euros last year.

BMW Group said that although profits improved in the fourth quarter, due to a decline in sales in major markets and the provision of 1.4 billion euros in reserves related to EU antitrust fines, this led to a nearly 80% drop in profits in the first quarter of 2019 and a sharp decline in net profits for the whole of 2019.

Based on the annual financial statements, BMW Group management and the board of supervisors will propose a dividend of EUR 2.50 per common share and EUR 2.52 per preferred share at the annual general meeting on May 14, 2020, with a total dividend expected to be approximately 1.65 billion euros.

BMW Group's revenue growth is closely related to sales. Sales figures show that BMW Group, which includes BMW, Mini and Rolls-Royce brands, sold 2.52 million vehicles worldwide in 2019, up 1.2 per cent from a year earlier. The BMW brand is the main source of sales for the BMW Group. The brand sold 2.17 million vehicles in 2019, up 2.0 per cent from the same period last year, down 4.1 per cent from the same period last year. Rolls-Royce, an ultra-luxury brand owned by BMW, sold 5152 vehicles in 2019, up 25.4 per cent from the same period last year.

In terms of specific market, BMW Group sold a total of 1.082 million vehicles in the European market in 2019, down 1.8% from the same period last year. Of this total, sales in the German home market were 331000, up 3.8 per cent from a year earlier; in the American market, BMW Group sold 458000 vehicles, up 0.4 per cent from a year earlier. Of this total, sales in the US market were 361000, up 1.8 per cent from a year earlier, while in the Asian market, BMW Group sold 924000 vehicles, up 5.6 per cent from a year earlier. China, BMW Group's largest single market, sold 724000 vehicles in 2019, surpassing Mercedes-Benz and Audi to become the top seller of domestic luxury brands.

BMW Group said that it is greatly expanding its electrification products and production lines to cope with Tesla's competition. According to BMW's plan, a total of 25 new energy models will be launched in 2023, more than half of which will be pure electric vehicles, two years ahead of schedule. In the face of China's huge new energy vehicle market, BMW plans to launch its first pure electric SUV--iX3 this year. In addition to the iX3 model, the pure electric version of BMW i3 and the mixed versions of X1, X3 and 5 series will also be launched to further optimize BMW's new energy vehicle camp in China. In addition, the beam car, a joint venture between BMW and Great Wall, will also produce fuel-fueled and pure-electric MINI cars.

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