Frankfurt — German luxury car maker BMW says it boosted
profits in 2016 from record sales, offering an increased dividend and
promising further growth this year.
Net profit grew 8.0% on 2015’s figure to reach €6.9bn, the group said in a statement on Thursday, as revenue grew a more modest 2.2.% to reach €94.1bn — both new records for BMW.
Operating, or underlying, profit fell 2.2% to €9.4bn.
Looking ahead to the current year, "we are again targeting a new sales volume record in 2017, with sales slightly up on the previous year," CEO Harald Kruger said.
But "the BMW Group expects the global political and economic environment to remain volatile," as Brexit and potential trade restrictions in the US loom on the horizon.
BMW was attacked by US President Donald Trump in a January interview, with the New York property tycoon warning the German firm not to go ahead with a planned factory in Mexico, or face harsh border taxes.
The Munich-based group, which also owns Mini and Rolls-Royce, sold almost 2.4-million vehicles in 2016.
Its new unit sales record was not enough to outshine Stuttgart rival Daimler, whose Mercedes-Benz flagship outsold BMW’s own-brand cars for the first time in more than a decade last year.
BMW plans to offer shareholders a dividend of €3.50 per share, up from a €3.20 payout for the financial year 2015.
AFP
Net profit grew 8.0% on 2015’s figure to reach €6.9bn, the group said in a statement on Thursday, as revenue grew a more modest 2.2.% to reach €94.1bn — both new records for BMW.
Operating, or underlying, profit fell 2.2% to €9.4bn.
Looking ahead to the current year, "we are again targeting a new sales volume record in 2017, with sales slightly up on the previous year," CEO Harald Kruger said.
But "the BMW Group expects the global political and economic environment to remain volatile," as Brexit and potential trade restrictions in the US loom on the horizon.
BMW was attacked by US President Donald Trump in a January interview, with the New York property tycoon warning the German firm not to go ahead with a planned factory in Mexico, or face harsh border taxes.
The Munich-based group, which also owns Mini and Rolls-Royce, sold almost 2.4-million vehicles in 2016.
Its new unit sales record was not enough to outshine Stuttgart rival Daimler, whose Mercedes-Benz flagship outsold BMW’s own-brand cars for the first time in more than a decade last year.
BMW plans to offer shareholders a dividend of €3.50 per share, up from a €3.20 payout for the financial year 2015.
AFP
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