BMW fiscal 2009 profits and sales down, expects rebound in sales

BMW Inc. today announced full year 2009 earnings, reporting significant declines in net profit and total sales.

The company said net profit was EUR 210-million, down 36.36-percent from EUR 330-million in fiscal 2008.

Operating income before taxes was up to EUR 413-million, 18-percent up from 2008.

BMW said it sold 1.28-million vehicles in 2009, a sharp drop of over 12-percent from 2008 as people shifted to smaller, less luxurious and more affordably priced vehicles because of the financial and credit crunch.

 BMW chairman Norbert Reithofer said today the company plans “to increase sales within the single-digit-percentage to over 1.3-million vehicles,” as demand is expected to increase as the worst of the financial crisis is over.

The company confirmed despite the material decline in net profits in 2009, it would maintain current dividend levels and has no plans to reduce them. BMW pays EUR 0.30 per share for common shares and EUR 0.32 per share for preferred stock.

The company is excited about its new 5-Series sedan, which will hit show rooms by the end of this month. The new 5-Series BMW is reportedly significantly improved as the lower-end car makers begin to add premium features to their own cars that are offered at significantly discounted prices comparative to BMW.

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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  • Anonymous

    Nice article! As far as I read, their sales were a lot better in 2010. I myself have a BMW and I love it. I think it’s the best car ever and I was surprised to hear that BMW didn’t have good sales in 2010. I would advice everyone to buy one of their cars or Car Covers.

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