BMW achieves record revenues and earnings in 2010

BMW Group’s revenues and earnings have reached new record highs in 2010, with revenues rising 19.3% to euro 60,477 million and profit before tax (EBT) jumping to euro 4,836 million. At the end of the year the Group registered a profit before financial result (EBIT) of euro 5,094 million and a record net profit for the year of euro 3,234 million.

“We are extremely pleased with developments over the past financial year. We have set new records for revenues and group earnings and have more than achieved our targets for the full year. Our model range and continued rigorous implementation of our Strategy Number ONE enabled us to improve profitability and efficiency significantly in 2010“, explained Norbert Reithofer, the Chairman of the Board of Management of BMW AG on Thursday in Munich.

In 2010 the sales volumes of the BMW Group has also risen, representing the second-best ever performance of its history. Altogether the BMW, MINI and Rolls-Royce brand vehicles sold a total of 1,461,166 units, a growth of 13.6%. With this value, BMW Group surpassed its goal for the full year 2010 to sell more than 1.4 million units, keeping its position of world’s leading provider of premium cars.

Thanks to higher sales volume figures, a high-value model-mix, better transaction prices and lower material costs the Automobiles segment’s revenues grew by 23.8% to euro 54,137 million. The segment’s EBIT improved to euro 4,355 million, while the profit before tax increased to euro 3,887 million.

For 2011 Reithofer says that the target is to reach record sales of more than 1.5 million vehicles, while achieving new highs on BMW, MINI and Rolls-Royce. To do so BMW Group expects sales to continue its positive development and to keep a balanced relationship in sales activities between Europe, Asia and America.