It's been a very good year at BMW. So good that the company is raising its dividends and paying profit sharing to workers in Germany. In his last statement before handing over the company to his replacement, the outgoing CEO dropped a low-key jab seemingly directed at BMW's crosstown rivals – possibly one in particular.To be clear, Porsche was never mentioned directly. Neither was Mercedes-Benz nor Audi. But, the context of the speech leaves little doubt as to what Oliver Zipse was hinting at as he gave his final speech as BMW CEO. Zipse Says Goodbye After 35 Years At BMW, 7 In Top Spot BMW Oliver Zipse has been the Chair at BMW for nearly seven years. It's been a wild ride, not necessarily through any fault of his, but he and the company have responded. The 106th annual meeting of BMW is his last act in the job. As you read this, Milan Nedeljković is now the new face at the top.In his final speech, Zipse praised the company he ran for beating its earnings targets for 2025 of 10 billion euros, its 10-cent stock dividend increase to 4.40 euros, and its 2.46 million sales in the year. All in all, good numbers considering the general state of everything. As for the shade, though, blink and you might miss it."Others are canceling bonuses," he said, smiling. "We are paying our employees in Germany an attractive profit-sharing bonus for 2025. Our business model is robust."Porsche had a rough 2025, which led the automaker to straight-up cancel its bonuses. To be fair, Audi and Mercedes haven't been whistling dixie, either. Both companies have also adjusted their bonus structure, including the elimination of some, but not all, payouts. So Zipse could well be referencing all of BMW's hometown competition. But only one canceled everything. Take that as you will.Zipse then brought up one of the big reasons it is doing well. That would be BMW's factory in Spartanburg, which is its biggest plant and also the largest US automotive exporter by value. "A fact that is recognized and appreciated in US political circles," Zipse said. BMW builds many of its SUVs in the US, making them less affected by the tariffs that are costing automakers billions. Porsche builds its SUVs in Germany.He then turned to BMW's performance in China, where the market has been shrinking slightly. The automaker sold 625,000 vehicles there last year, and outperformed the overall market contraction. To try and grow in the world's largest auto market, BMW is unveiling new models for China, including the long-wheelbase iX3, i3, and the new 7 Series. Still Not Happy With EU Emissions Rules BMW Zipse also brought up BMW's carbon emissions against EU goals. The departing Chair spoke out against the EU's approach to cutting emissions, saying that they pushed downsizing instead of innovation, harming industry in the EU and helping business elsewhere.Despite that, BMW was below 2025 EU CO2 emissions targets by what he called a "significant margin." BMW didn't pool its emissions with other automakers or average across years, something other automakers have had to do, paying for credits instead of fines. It did it on the merits of its vehicles.BMW still has plenty of EVs coming. Zipse said there will be 20 across BMW, Mini, and Rolls-Royce by the end of the year. Starting from 2028, it will also sell vehicles that run on hydrogen, beginning with the next-generation X5 that will have five different power sources.The i3 electric sedan will go into production in August and be on the road in Europe shortly after. He expects demand to be as high as for the iX3, which is so popular BMW added a second shift to its plant months ahead of schedule. The first electric M, likely i3-based, will be revealed in 2027."Those who invest expect their investment to be worthwhile, dear Shareholders. At the BMW Group, there are many compelling reasons why this will continue to be the case in the future," Zipse said, closing his speech with a thank you for 35 years at the German automaker.