After already announcing record global retail motorcycle sales volume during 2021, BMW has now revealed just how lucrative that has been in its full annual results. BDN financial editor Roger Willis reports.
12-monthly revenue from bikes was a muscular 20.3% up on the previous weak year to £2.31bn. And that beat 2019’s pre-pandemic turnover by 16%. Associated operating profit boasted a stupendous 120.4% recovery to £190.9m versus 2020’s lamentable £86.6m. Operating margin climbed by 84.4% to 8.3%. Earnings at operating level were also 17% higher than in 2019.
Pre-tax profit reached £191.8m, against just £84.2m in 2020, and was 21.9% up on 2019. An unaudited net profit figure, year-on-year, bounced back by 139.2% to £149m.
Production volume of 187,500 motorcycles and maxiscooters, shipped to more than 1200 dealerships and importers worldwide, increased by 11.5% — compared to 168,104 in 2020. But production was only 0.2% up on the tally in 2019.
As covered in the March issue of BDN, record deliveries to retail customers had stacked on 14.8% to 194,261 machines, additionally ahead of 175,162 two years ago by 10.9%.
However, while BMW motorcycle sales are forecast to increase slightly in 2022 or at least remain stable, the company’s heavyweight 353-page results statement was spattered with cautionary qualifications from respective supervisory and management board chairmen Norbert Reithofer and Oliver Zipse.
Besides inevitable waffle about tree-kissing electrification progress, all the obvious stuff beyond their control is to the fore. Excuses include limited availability of semiconductors and other components, further developments in Ukraine, a related mounting energy crisis, the still ongoing Covid pandemic and macro-economic factors — such as rampant inflation.
€-£ currency translation at forex rates applicable on 16 March