BMW Group said on Thursday it had achieved record sales volume, revenues and earnings records in 2011.
Group revenues increased 13.8% year on year to EUR68.8bn, profit before tax (EBT) rose 52.1% to EUR7.4bn, profit before financial result (EBIT) by 56.9% to EUR8.02bn and net profit by 51.3% to EUR4.91bn.
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The number of cars delivered in 2011 increased 14.2% to a record 1,668,982 units.
Shareholders will receive a record dividend of EUR2.30-EUR2.32, equivalent to a payout ratio of 30.7%.
“The past year has been the best year in the BMW Group’s corporate history. We have achieved new sales volume, revenues and earnings highs, and exceeded our targets“, said chairman Norbert Reithofer.
Automotive revenues increased 16.8% to EUR63.2bn, EBIT surged 71.7% to EUR7.48bn and profit before tax 75.5% to EUR6.82bn. EBIT margin was 11.8%compared to the “over 10%” previously forecast. This “significant improvement” in segment earnings was due to the sharp rise in sales volume and improved cost structures.
BMW brand unit sales volume reached a record 1,380,384 units in 2011, up 12.8%.
Mini volume rose 21.7% to 285,060 units. Rolls-Royce sales rose 30.5% to a record 3,538.
“We expect the past year’s record-breaking sales volume performance to be surpassed in 2012”, said Reithofer.
