BMW FY20 Profit Down On Weak Deliveries; Sees Significantly Higher Profit In FY21
MUNICH (dpa-AFX) - German luxury car maker BMW AG (BMW.L, BAMXF.PK, BAMXY.PK) reported Tuesday that its fiscal 2020 Group net profit declined 23.2 percent to 3.86 billion euros from last year s 5.02 billion euros. Earnings per share fell 23.2 percent to 5.75 euros from 7.49 euros last year.
Profit before tax fell 26.6 percent to 5.22 billion euros from 7.12 billion euros a year ago.
Revenues dropped 5 percent to 99 billion euros from 104.21 billion euros a year ago.
Deliveries declined 8.4 percent to 2.33 million vehicles.
Looking ahead for fiscal 2021, the company now expects Group profit before tax to rise significantly. ....