BMW group has reported full year 2005 profit before tax of EUR3,287m, down 8.3% on 2004’s EUR3,583m.
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At EUR2,239m, net profit was off 0.1%.
An increase in the price of shares in the aero engine manufacturer Rolls-Royce held by the BMW group resulted in an non-cash expense of EUR356m being recorded in 2005.
Group revenues rose 5.2% to a record EUR46,656m but pre-tax margin fell to 7.0% from 8.1% a year ago.
“We expect the BMW group to remain on growth course in the financial year 2006 and to achieve a new sales volume record” said chairman Helmut Panke.
The profit before tax of the automobiles segment for the financial year 2005 was off 5.9% to EUR2,976m due to currency effects and higher raw material prices though revenues rose 7.8% to EUR45,861m.
But the profitability of the motorcycles segment improved significantly in 2005 – by 93.5% to EUR60m as revenues climbed 18.9% to EUR1,223m.
The financial services segment was 17.5% higher at EUR605m.
In total, 1,323,119 BMW, Mini and Rolls-Royce brand cars were manufactured, an increase of 5.8% year on year.
