BMW racks up another record year, pushed on by favourable currency headwinds as share price falls due to outlook for “slight” sales increase in 2016
German carmaker BMW's share price dropped this afternoon, despite posting a record breaking sixth year in a row. Shares dipped by two per cent immediately after the figures were released.
Revenue, sales, and pre-tax profit all set fresh records at the luxury car firm, though investors baulked at the suggestion 2016 would see numbers only "slightly up" on 2015.
Revenue was given a boost by favourable currency movements up 14.6 per cent to €92.2bn (£71.13bn), while pre-tax profit broke through €9bn for the first time, up six per cent.
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BMW has proposed a dividend rise to €3.20 per share of common stock, up from €2.90 in 2014.
Harald Krüger, chairman of BMW’s management board warned the global political and economic environment is expected to remain volatile:
We are again targeting a new sales volume record in 2016, with sales expected to be slightly up on the previous year.
The number of vehicles BMW sold rose 6.1 per cent to 2.2m, lead by sales of its Mini brand up 12 per cent.
Rolls-Royce was the only brand in the group that recorded declining sales, down six per cent on the year to 3,785 units.
In Europe the number of vehicles handed over the customers broke one million units for the first time, climbing 9.4 per cent.
The four largest sales markets for the company over the past year were China, the US, Germany and the UK.