In the challenging 2021 fiscal year, the BMW Group successfully achieved various performance targets, with a number of financial indicators such as full-year earnings, pre-tax income and net profit reaching record highs. At the same time, the BMW Group has also successfully achieved its goals in related fields such as sustainable development: among them, the sales volume of new energy products of the BMW Group has soared to 13% of the total global sales volume in 2021, and its profitability has been greatly enhanced.
Chiptzer, Chairman of the BMW Group, said: "The business development in 2021 proves that the transformation of the BMW Group has begun to bear fruit. We adhere to the established strategy of delivering the right product to the market at the right time. At the same time, our team works closely together to overcome difficulties. For the BMW Group, radical transformation and beautiful financial performance can go hand in hand. ”
For the full year of 2021, the BMW Group delivered 2,521,514 vehicles worldwide, an increase of 8.4% year-on-year; of which new energy vehicles accounted for 13% of the total, reaching 328,314 units. Total Group revenue amounted to EUR 111,239 million, representing an increase of 12.4% year-on-year. Group pre-tax income grew strongly to an all-time high of €16.06 billion, up 207.5% year-on-year. The Group's net profit also set a record high of EUR 12,463 million, an increase of 223.1% year-on-year. The profit to be distributed to shareholders amounted to 3,827 million euros, a record level of dividends per share.
In 2021, its total investment in research and development amounted to 6.299 billion euros, an increase of 10.7% over the previous year. R&D investment in 2021 will be mainly in areas related to new vehicle architectures and electric product offensives, as well as digital products and autonomous driving research and development.
In the context of strong market demand, thanks to more reasonable pricing and a sound product array, the bmw group's automotive business revenue climbed sharply to 95.476 billion euros in 2021, an increase of 18.1% year-on-year. EBIT margin reached 10.3%. The automotive business's contribution to free cash flow reached EUR 6,354 million at the end of the year, an increase of 87.2% year-on-year.
Sustainability is at the heart of the BMW Group's corporate strategy. The Company will release its 2021 Group Financial Report on March 16 and will incorporate sustainability results into the Group's financial results in accordance with the requirements of the Sustainable Accounting Standards Board (SASB).
Dr Peter, Director of Finance at the BMW Group, said: "The BMW Group is committed to disclosing our sustainability achievements in a transparent and understandable manner, ensuring that all initiatives are on the right track. Our goal is to lead the industry in sustainability. ”
In 2021, the BMW Group's financial services business performed well. Revenue from the financial services business increased significantly to EUR 32,867 million, up 9.4% year-on-year, with a return on assets of 22.6%, driven by high demand for new and used cars in the luxury car market.
BMW Motorcycle delivered a total of 194,261 units to customers last year, an increase of 14.8% year-on-year. Revenue from the motorcycle business increased by 20.3 percent to EUR 2,748 million and profit margin before taxes (EBIT) was 8.3 percent.
Finally, let's draw the main points. Take a look at the brilliant achievements of the BMW Group in 2021:
The Group's pre-tax income exceeded 16 billion euros
EBIT margin of 10.3% for automotive business
Strengthening electric strength, the Group's new energy vehicle sales account for 13% of the total global sales
The annual R&D investment exceeded 6.2 billion euros, which greatly promoted the innovation of electrification technology