BMW clocks up record profit of 6.4 bn euros in 2015, raises dividend

9th March 2016, Comments 0 comments

German top-of-the-range carmaker BMW said Wednesday it clocked up record sales and profits in 2015 and would increase its dividend payout to shareholders.

"The BMW group achieved its sixth record-breaking year in succession in 2015, posting new highs to date for sales volumes, revenues and profit, despite a volatile market environment," the carmaker said in a statement.

Net profit rose by 10 percent to 6.4 billion euros ($7.0 billion) in 2015 and, to mark the group's centenary, BMW planned to pay an increased dividend of 3.20 euros per ordinary share and 3.22 euros per preferred share, the statement said.

"We have met all of our ambitious targets for the financial year," said chief executive Harald Krueger, calling the results "another set of impressive figures in BMW's centenary year."

Unit sales were up 6.1 percent at a new record of 2.247 million vehicles worldwide. Thanks to favourable exchange rates, revenues climbed by 14.6 percent to 92.2 billion euros.

Underlying or operating profit was up by 5.2 percent at 9.6 billion euros, "mainly on the back of sales volume growth."

Looking ahead to the current year, BMW predicted that "the upward trend in worldwide sales volume is forecast to continue in 2016."

"We are again targeting a new sales volume record in 2016, with sales expected to be slightly up on the previous year," said CEO Krueger, adding that "the global political and economic environment is also expected to remain volatile."

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© 2016 AFP

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