BMW shines as profits surge
March 9, 2016
Munich-based BMW announced Wednesday that 2015 marked its sixth consecutive year of record sales and profit.
The carmaker reported a 10-percent increase in bottom-line earnings to 6.4 billion euros ($7.0 billion). Sales were up 6.1 percent at an unmatched 2.23 million units last year despite a slowdown in the world's biggest auto market, China.
The group shifted 5.2 percent more of its flagship BMW brand, while sales of its urban brand Mini increased by 12 percent year-on-year. The carmaker's top-of-the range Rolls-Royce brand recorded the second-best performance in its history, moving 3,785 units worldwide.
Higher dividend not high enough?
"We're again targeting a new sales volume record in 2016," CEO Harald Krüger said in a statement.
BMW rewarded its shareholders by recommending a record dividend of 3.20 euros per ordinary share, up from 2.90 euros for 2014.
Leading its rival Daimler-Benz in units sold, and with auto giant Volkswagen struggling to overcome its emissions cheating scandal, BMW remains in pole position at the high end of the auto industry.
But despite the carmaker's positive outlook, BMW shares were the biggest losers on the German blue-chip DAX index, shedding more than 2 percent in afternoon trading as investors had penciled in an even higher dividend payout.
hg/cjc (dpa, AFP)