Friday, March 18, 2011

BMW 2010 profit surges on demand by 5-Series, Mini Countryman

BERLIN (Reuters) - BMW AG has improved a profit last year by more than 15 times of the new BMW 5 Series and the new Mini Countryman.

Net income rose last year more than 15 times to € 3,230,000,000 ($ 4,470,000,000) of € 210,000,000 a year earlier, the company headquartered in Munich, said today in an e-mail statement. The figure surpassed the average estimate of 13 2910000000 € analysts surveyed by Bloomberg. Sales increased last year by 19 percent to € 60,500,000,000 in 2010.

BMW profit was enhanced by an increase of 36 percent of the demand for the revised 5 Series sedan in China and the United States. Compact X1 SUV more than 100,000 units sold in its first full year, while the farmer sold the Mini brand, the first four-door, 14 337 copies since it was introduced in September.

BMW has delivered a strong set of results, "said Jose Asumendi, a London-based analyst at Royal Bank of Scotland." Now we see BMW building off the results and use of the dynamic excellent product. "

The company posted a record dividend of 1.30 euros per ordinary share, more than triple the 30 cents paid last year.

Premium car manufacturers forecast a sales growth this year in the United States increased spending and growing prosperity in China, the first two automotive markets worldwide. Volkswagen AG, Audi has is to add extra shifts to meet demand, Chief Executive Officer Martin Winterkorn said today in Wolfsburg.

Supply Records

BMW wants to shipments of more than 1.5 million vehicles in 2011, a record at the request of the second generation X3 SUV and 6 coupe.

BMW, whose shares rose by 79 percent over the last 12 months fell by 0.3 percent to € 57.99 in Frankfurt trading after 11:48, the assessment of the manufacturer's 36.9 billion euros.

The automotive electronics business in 2010 profit before interest and tax was 8 percent of revenue last year compared to 8.7 percent of Daimler AG Mercedes-Bnez unit and 9.4 percent for Volkswagen Audi. The company focuses on an EBIT margin of between 8 and 10 percent in 2012.

BMW shed almost 800 jobs last year in early retirement, buyouts and attrition, the company said. BMW has almost 95 500 people.

The manufacturer of BMW, Mini and Rolls-Royce expands its range of vehicles up to a sales target of more than 2 million cars and SUVs in 2020.

The automaker has the "i" sub-brand of electric cars from 2013, known with the introduction of models with i3, a city car batteries, the vehicle ahead of Mega City. The company also plans to i8, a plug-in hybrid based on the super sports car concept Vision EfficientDynamics.

BMW is also growing in transportation and related services to experiment with short-term rentals, as iPhone to consumers more interested in devices like Apple's will appeal than cars. The company began investing 100 million in the venture and the City My Way Smartphone application.


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