BMW AG

BMW
Delayed Quote. Delayed  - 08/19 11:38:47 am
75.81EUR -2.67%

BMW AG decides to buy back own shares up to EUR 2 billion from July 2022 to Dec 2023

06/30/2022 | 09:19am

Munich. Bayerische Motoren Werke Aktiengesellschaft (BMW AG) has resolved on a share repurchase programme with a value of up to EUR 2 billion (total purchase price excluding ancillary costs), repurchased shares to be largely cancelled, reducing share capital accordingly. This was approved at the Annual General Meeting in May 2022, authorising a share buyback of up to 10% of the share capital within five years. The first programme of EUR 2 billion is set to begin in July 2022 and end no later than December 2023.

Nicolas Peter, member of the Board of Management of BMW AG responsible for Finance: "The share repurchase is evidence of our consistent financial strength and robust liquidity. With our strong operating performance and the full consolidation of our Chinese subsidiary, BMW Brilliance Automotive Ltd., we expect to maintain a strong liquidity position. Our strong investment-grade rating is an important success factor in our transformation story, and we are clearly committing ourselves to maintaining this rating. In addition, all our shareholders - including employees - benefit not only from our reliable dividend policy, but also from this share buyback programme, by an increase in their earnings per share. Share buybacks provide an additional tool to create value for our shareholders and send a signal of our long-term strength to the capital markets. We continue to focus on the successful long-term growth of the company and on optimal allocation of capital. As in the past, the investments needed for the transformation of the BMW Group continue to be a priority and will be funded from operatingcash flow."

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

E-mail: britta.ullrich@bmwgroup.com

Eckhard Wannieck, head of Communications Corporate, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media website: www.press.bmwgroup.com/global

Email: presse@bmwgroup.com

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 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was EUR 16.1 billion on revenues amounting to EUR 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 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.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupView

Instagram: https://www.instagram.com/bmwgroup

LinkedIn: https://www.linkedin.com/company/bmw-group/

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

© Acquiremedia 2022
Copier lien
All news about BMW AG
10h ago
13h ago
18h ago
1d ago
1d ago