Munich. Today, the Board of Management of the
Bayerische Motoren Werke Aktiengesellschaft (BMW AG) approved a
further share buy-back programme in a volume of up to 2 billion EUR
(total purchase price excluding ancillary acquisition costs), which is
scheduled to start upon conclusion of the first buy-back programme.
The latter was started in July 2022 and is expected to be completed in
mid-2023. The authorization to repurchase up to 10% of the share
capital within five years was granted by the Annual General Meeting of
BMW AG in May 2022.
This second repurchase programme is also applicable to both common
and preferred shares. The volume attributed to preferred shares is
limited to a maximum of EUR 350 million. The second programme will be
concluded no later than December 31, 2025.
Its primary objective is to redeem the repurchased shares and to
reduce share capital correspondingly. In addition, it may also be used
to transfer shares to employees of BMW AG or a group company within
the framework of an employee share program.
Nicolas Peter, Chief Financial Officer of BMW AG:
“BMW AG stands for sustained and continuous growth based on its
operational strength and long-term strategic orientation. Our
entrepreneurial success continues even in the current, higher
investment transition phase to CO2-free mobility. The fact that we are
adopting a second share buyback programme shows the consistently high
financial strength and strong liquidity of our company. We expect a
continued robust liquidity position going forward — and this supports
our outstanding investment grade rating.”
“Our shareholders have been able to rely on our annual solid dividend
payouts. The withdrawal of the repurchased shares and the reduction in
share capital will result in higher earnings per share. In this way,
we are strengthening the value of our shares and offering our
shareholders further profit potential. We are maintaining our focus on
optimal capital allocation and by continuing our repurchase
activities, we are sending a clear signal of strength to the capital
market”, said Nicolas Peter.
The share buy-back is carried out in accordance with the safe harbour
rules set out in article 5 of the EU Market Abuse Regulation
(Regulation (EU) no. 596/2014) in conjunction with the provisions of
the Commission Delegated Regulation (Regulation (EU) 2016/1052). The
BMW Group will regularly report on the progress of the program. An ad
hoc announcement has been published at the same time as legally required.
If you have any questions, please contact:
BMW Group Corporate Communications
Dr Britta Ullrich, Communications Finance
Telephone: +49 89 382-18364
Eckhard Wannieck, head of Communications Corporate, Finance, Sales
Telephone: +49 89 382-24544
Media website: www.press.bmwgroup.com/global
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW
Group is the world’s leading premium manufacturer of automobiles and
motorcycles and also provides premium financial and mobility services.
The BMW Group production network comprises over 30 production sites
worldwide; the company has a global sales network in more than 140 countries.
In 2022, the BMW Group sold nearly 2.4 million passenger vehicles and
more than 202,000 motorcycles worldwide. The profit before tax in the
financial year 2022 was € 23.5 billion on revenues amounting to
€ 142.6 billion. As of 31 December 2022, the BMW Group had a workforce
of 149,475 employees.
The success of the BMW Group has always been based on long-term
thinking and responsible action. The company set the course for the
future at an early stage and consistently makes sustainability and
efficient resource management central to its strategic direction, from
the supply chain through production to the end of the use phase of all products.