BMW Reports Record Revenues and Profits for 2011

The high-end automaker expects to grow again this year.

BMW Group on Thursday said 2011 was a bumper year, with new records in unit sales, revenues and profits.

The automaker expects to continue to grow this year.

BMW said it booked net profits of 4.907 billion euros ($6.5 billion) in 2011, a year-over-year increase of 51.3%, and pre-tax profits rose by 52.1% to 7.383 billion euros ($9.8 billion).

Unit sales were up 14.2% at 1.669 million vehicles, pushing up revenues by 13.8% to 68.821 billion euros ($91 billion), Munich-based BMW said in a news release.

"Last year was the best in our history. We achieved new records in unit sales, revenues and earnings," boasted CEO Norbert Reithofer.

Alongside its flagship BMW brand, the carmaker also produces Mini and Rolls-Royce cars, and motorcycles.

Unit sales of the main BMW brand were up 12.8%, Mini sales raced ahead by 21.7% and Rolls-Royce sales were up as much as 30.5%.

That pushed the automobile division's pre-tax earnings up by 75.5% to 6.823 billion euros ($9 billion), or 92% of the group total.

The financial-services division reported a 47.4% increase in pre-tax earnings to 1.79 billion euros ($2.4 billion).

Shareholders will participate in the carmaker's success, with the dividend payout being increased by 1 euro ($1.32) to 2.30 euros ($3.04) per share, Reithofer said.

Looking ahead, BMW said it expects to be able to lift sales again this year.

"After our sales record of last year, we expect to be able to increase the number of deliveries again in 2012," Reithofer said.

BMW shares were higher in line with overall market on the Frankfurt Stock Exchange on Thursday, adding 1.45% to 69.26 euros.

Copyright Agence France-Presse, 2012

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