• Germany's news in English

BMW optimistic despite dip in 2009 profits

AFP · 11 Mar 2010, 12:24

Published: 11 Mar 2010 12:24 GMT+01:00

Facebook Twitter Google+ reddit

BMW said its 2009 profit had fallen to €210 million as boss Norbert Reithofer updated provisional figures.

A company statement added however that sales by the world's leading luxury auto manufacturer were expected to increase this year by 50,000 vehicles to 1.3 million.

Although the global economic crisis sent unit sales plunging by 12.6 percent last year, BMW fared better than rival Daimler, because the maker of Mercedes Benz cars posted a 2009 loss of €2.6 billion.

"We are prudently optimistic for the current year," Reithofer said in the statement.

The company said its 2009 dividend would remain unchanged at €0.30 per ordinary share.

They initially leapt by three percent on the Frankfurt stock exchange on the news but then fell back to show a slight gain of 0.09 percent to €32.30 in midday trading, while the DAX index of German blue-chips was flat overall.

In January, the group had already said that sales slipped last year by 4.7 percent to €50.68 billion.

Story continues below…

Final results are to be published on March 17.

BMW's auto division was hit hardest in 2009 as auto scrapping premiums worldwide pushed buyers towards smaller, cheaper models but is poised to rebound this year.

The company is placing hopes in a new Series 5 sedan due to hit showrooms later this month, and expects stronger results in emerging markets like China.

Facebook Twitter Google+ reddit

Your comments about this article

16:37 March 12, 2010 by dbert4
MOST of the German companies have still remained profitable the past 2 years, what they're lamenting is less profit.

Unlike American car companies generally which haven't made a profit in years.

The German companies are very well run with a longer term vision and low debt. Their American counterparts are up to their arschs in debt and since their executives are still making millions, who cares.
Today's headlines
Long-vanished German car brand joins electric race
Photo: DPA

Cars bearing the stamp of once-defunct manufacturer Borgward will once again roll off an assembly line in north Germany from 2018, the firm said Wednesday.

Eurowings cabin crew union to strike all day Thursday
Photo: DPA.

UPDATE: A union representing cabin crews on Lufthansa's budget airline Eurowings has announced that strikes will last all day Thursday as ongoing contract negotiations continue to falter.

Hesse hopes to set example by building Iraqi orphanages
Refugee children in northern Iraq. Photo: DPA

The wealthy central German state of Hesse has set aside €1 million to build a school, family homes and an orphanage in northern Iraq, in an effort to help refugees there.

The Local List
10 German clichés that foreigners get very wrong
David Hasselhoff. Photo: DPA

Whether it be efficiency, humourlessness or a love of a certain Baywatch star, there are many cliches stuck in the heads of foreigners about Germany. But how true are they?

Fake Germanwings victim relative convicted in Cologne
A torn piece of metal at the crash site in 2015. Photo: DPA

A German court on Wednesday gave a woman a year's suspended jail sentence for posing as the cousin of a victim in last year's Germanwings plane crash and obtaining compensation offered by the airline.

Couple accused of torturing, murdering women go on trial
The so-called 'house of horrors' in Höxter where the couple allegedly tortured and killed women. Photo: DPA.

A couple accused of luring women to their village home with personal ads started trial on Wednesday over charges that they tortured and killed at least two of their victims.

After July attacks, govt drafts new video surveillance law
Photo: DPA

The Interior Ministry is drafting a law which will enable public spaces to be filmed for surveillance purposes as a reaction to deadly attacks in July, according to a newspaper report.

Merkel: murky internet giants distort perception of reality
Angela Merkel. Photo: DPA.

Chancellor Angela Merkel called on Tuesday for internet giants to make public their closely-guarded algorithms, claiming that they are not giving people diverse enough information.

Pegida leader 'paid court costs with group's money'
Pegida leader Lutz Bachmann. Photo: DPA.

The leader of the anti-Islam movement reportedly used money from Pegida's coffers to pay for two personal court cases, German media reported this week.

Anger as Berlin scraps Turkey concert on Armenia genocide
The Dresden Symphony Orchestra. Photo: DPA

Germany's foreign ministry Tuesday scrapped a planned symphony performance on the Armenian "genocide" in its Istanbul consulate, sparking accusations that it was caving in to Turkish pressure.

10 ways German completely messes up your English
Sponsored Article
Last chance to vote absentee in the US elections
Germany's 10 most weird and wonderful landmarks
10 things you never knew about socialist East Germany
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
jobs available
Toytown Germany
Germany's English-speaking crowd