Demand of luxury cars in China supported the BMW financial report
With 83% operating profit jumped for the second quarter of BMW, writes Reuters. Good financial results of the company are supported mainly by strong sales of cars from the fifth series, the agency notes. Of the three largest producers of luxury cars, BMW has the highest profit margin. The profit before taxes the company has grown by 66% to 2.86 billion announced based in Munich, Germany, company, while analysts predicted a 2.3 billion euro. Net income nearly doubled yoy to 1.81 billion, while revenues have increased by 17 percent to nearly 18 billion, according to the automotive giant. On July 12th, BMW increased its forecast for profit and sales for 2011. Higher financial result in the second quarter due to strong demand for luxury cars in China. BMW of complement that currently produce at full capacity and waiting lists for some models. Extremely high is the demand for X3 model, the company said. Really after the dawn of financial crisis the automotive companies have high increase in their sales and profit, which is supporting the economy results of the main countries.
BMW with top quarterly report
BMW 5 Series, the flagship BMW 7 Series and BMW X models have the largest contribution to the positive result of the concern. BMW released official information on the results from the first quarter of 2011. The evidence suggests that the company's revenue grew by 28.9% and reached 16.037 billion (2010: 12.443 billion). The financial results for first quarter pre-tax (EBIT) rose to 1.902 billion (2010: 449 million) and profit before tax (EBT) amounted to 1.812 billion (2010: 508 million) net profit from them - 1.212 billion (2010: 324 million).
For the first three months of 2011, sold 321,175 vehicles BMW, which is 20.8 percent more than in the previous year. The new BMW 5 Series, the flagship BMW 7 Series and BMW X models have the largest contribution to this result.
The increase in MINI sales was 22.9%. For the period January to March are generally sold 60,860 cars of this brand. Especially popular among customers is the fourth model of the brand MINI Countryman, whose sales for the period were 16,078.
BMW reported 4 times increase of the profit
The Munich-based automobile concern BMW has managed to increase almost four times its profit for the first quarter and thus vulnerable to competition in the high price segment of the Mercedes and Audi. The company is the last major German manufacturer, who presented his results for the first three months of the year. Data show that they were most successful for her as well as its competitors in developing countries and the already established markets like the U.S. and Europe. Furthermore, the Group has managed to sell more limousines and vans, which is the reason for the increase in operating margin of 11.9%. The same indicator for Mercedes is 9.3 percent and for Audi - 10,6%.
"BMW Group started the year strongly", said in the presentation of data CEO Norbert Reithofer. "We achieved record profits and sold more cars per quarter than it was."
The sales of the main brand BMW are up 21% to 321,175 vehicles, thus the concern ahead of Audi and Mercedes. Not see an end to this upward trend - the U.S., the most important export market, the Bavarians have sold considerably more cars than its German competitors in the high segment.
Profit of BMW increased 7 times for the second quarter
Bayerische Motoren Werke AG (BMW) - the largest maker of luxury cars in the world, reported its largest gain of two and a half years. Net profit for the company's second quarter increased 7 times yoy to 831 million, with an average forecast of 546 million analysts interviewed by the agency. The revenue for the quarter increased to 18% annually to 15.3 billion, aided by increased demand for the new fifth series and increased sales in China and the U.S. "The sharp increase in sales of major markets and product portfolio focused on high value segment, the main reason for good performance in the second quarter," said Chief Executive Norbert Raythofer of BMW. "We have a lot of progress in achieving targets on profitability," he said. Record sales in China - the largest market for cars in the world, and the recovery of the U.S. market forced BMW to raise its forecast for this year. On July 13 the company said it expected its sales for 2010 to increase by about 10% to more than 1.4 million vehicles. BMW, which also makes Mini and Rolls-Royce, has sold 13% more cars in the first half of 2010 compared to the same period last year. "Fantastic results," said Alexei Vunrau, an analyst at BHF-Bank. "It is surprise among the accounts for the second quarter compared to forecasts for the sector so far."
BMW turned on profit
The German car giant BMW has announced a profit of 323 million for the first quarter after the same period last year had suffered a loss of 153 million. The company has managed to achieve 8 percent growth in revenue to 12.4 billion. This gives reason to expect strong performance this year, announced by BMW, transmit Market Watch. Division to produce cars reported profit before tax and interest amounting to 291 million compared with a loss of 251 million euros a year earlier. Revenue jumped to his hand 11 per cent to 10.67 billion. After the return of BMW shares rose 2.4 percent to 36.82 euros on the number of stock exchange in Frankfurt. The company reported high increase of sales of new cars in Asia, which brought the good financial result. The world economy is recovering from mortgage, insurance, banking and credit crisis, so last months we got thousands of positive financial results for the first quarter of the year. The automotive industry was mostly supported by governments all over the world, but even this was not enough for some companies to bankrupt.
Bmw surprised with financial result
The largest producer of luxury cars in the world - the German BMW, announced that for 2009 and net profit amounted to 210 million euro, writes Bloomberg. The result is 120 million less than the announced for 2008, the agency stated. However, the reported financial result is better than the forecasts of analysts who predicted profit to 167 million. The Revenues of the company with a fall of 4.7% to 50.7 billion dollars, compared with a forecast for 49 billion. After the data the company's shares rose by 99 cents, or 3.1 percent to 33.26 euros. The predictions were for less than the financial results of BMW, but the good news from the company gave great start of European session.
Categories
- American Companies
- Asian Companies
- Australian Companies
- European Companies
- Half Year Report
- Monthly Report
- Quarter Reports
- Yearly Report
Useful Links
Calendar
Recent Comments
- zaki on Unilever with unexpected high profit
- alam on Unilever with unexpected high profit
- Tailynn on Veolia with a profit jump of 44 percent for the year 2009
- Alina Thornton on AT&T hardly increased its profit in the first quarter
- Darrell Hardaway on Adidas with profit increase with the support of the World Cup