70 Weeks | Car Economics » BMW Group http://www.70weeks.us Financial car news Mon, 16 May 2011 21:41:56 +0000 en hourly 1 http://wordpress.org/?v= Jump in Earnings for the Second-Quarter Reported by BMW Group http://www.70weeks.us/2010/10/31/jump-in-earnings-for-the-second-quarter-reported-by-bmw-group/ http://www.70weeks.us/2010/10/31/jump-in-earnings-for-the-second-quarter-reported-by-bmw-group/#comments Sun, 31 Oct 2010 23:12:41 +0000 admin http://www.70weeks.us/?p=56 The BMW Group has recorded a considerable boost in sales volume, revenues and earnings in the second quarter of 2010. Group revenues improved by 18.3% to euro 15,348 million, while the earnings (profit) before interest and tax (EBIT) increased to euro 1,717 million. This matches to an EBIT gross profit margin of 11.2%. The profit before tax climbed up to euro 1,299 million, with the profit after tax bettering to euro 834 million. The number of fomites sold during April to June augmented by 12.5% to 380,412 units.

Chairman of the Board of Management of BMW AG Norbert Reithofer, on Tuesday in Munich stated that “Sharp sales volume growth on major markets and a high-value model mix are the main reasons for the strong second-quarter performance. We have also used the economic crisis as a source of opportunity and have improved efficiency significantly in all areas of the company. We have made good progress towards achieving our profitability targets for the year 2012. But we have no intention of resting on our laurels. We are determined to remain on track to make the company sustainable fit for the future.

]]> http://www.70weeks.us/2010/10/31/jump-in-earnings-for-the-second-quarter-reported-by-bmw-group/feed/ 0 BMW Group Records Positive Earnings for 2009 http://www.70weeks.us/2010/05/05/bmw-group-records-positive-earnings-for-2009/ http://www.70weeks.us/2010/05/05/bmw-group-records-positive-earnings-for-2009/#comments Wed, 05 May 2010 12:40:50 +0000 admin http://www.70weeks.us/?p=42 Encouraging earnings for the financial year 2009 was recorded by the BMW Group. This was according to their plans regardless of the in progress worldwide financial and economic disaster. The profit before tax of the Group increased by 17.7% to euro 413 million while it was euro 351 million in 2008. Because of the higher in force tax rate the net profit of the BMW Group amounted to euro 210 million against euro 330 million in 2008 down by 36.4%. Revenues reduced fairly by 4.7% to euro 50,681 million as against euro 53,197 million in 2008. Dividend remains unchanged against the previous year at euro 0.30 per share of common stock and euro 0.32per share of preferred stock.

While at a meeting in Munich Dr. Norbert Reithofer, the Chairman of the Board of Management of BMW AG stated that “We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt. We are proposing a dividend for 2009 despite the difficult economic climate, demonstrating the confidence we have in our operating strength, and we also want our shareholders to participate in the company’s performance”.

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