BMW Fourth Quarter Earnings and Revenue Rise
March 12 2020 - 11:45AM
Dow Jones News
By Kim Richters
German car maker BMW AG on Thursday reported a rise in
fourth-quarter earnings and revenue.
Earnings before interest and taxes in the quarter rose to 2.33
billion euros ($2.63 billion) from EUR1.77 billion in the same
period a year earlier.
The company's aftertax profit was EUR1.41 billion, up from
EUR1.32 billion.
Quarterly revenue for the group increased to EUR29.37 billion
from EUR24.48 billion.
Its EBIT margin in the automotive segment rose to 6.8% in the
quarter, from 6.3% the same period a year earlier.
As for the full year 2019, the company saw revenue of EUR104.21
billion, EBIT of EUR7.41 billion and aftertax profit of EUR5.02
billion.
The full-year EBIT margin for the automotive segment dropped to
4.9% from 7.2% in 2018. The decline was mainly due to a EUR1.4
billion provision in the first quarter of the year, BMW said,
adding that the EBIT margin was 6.4% without it.
The company proposed a 2019 dividend of EUR2.50 per share of
common stock and EUR2.52 per share of preferred stock.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 12, 2020 11:30 ET (15:30 GMT)
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