BERLIN — BMW greater than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), the corporate mentioned in a statement on Thursday.
Greater costs and powerful gross sales of top-end automobiles boosted income regardless of provide chain constraints.
The automaker, which offered a document 2.52 million automobiles final yr regardless of semiconductor shortages, reported a 10.three % earnings margin for the yr, its highest since 2017.
Nonetheless, earnings earlier than curiosity and taxes (EBIT) in its automotive section took a 4.2 % hit within the fourth quarter as the worldwide chip scarcity, which BMW has up to now weathered higher than opponents, prompted a drop in deliveries of 14 %.
Quarterly internet revenue for the group got here in at 2.25 billion euros ($2.5 billion), a 3rd increased than final yr however nicely beneath 2019 ranges of 5.02 billion euros.
Premium automakers have largely been higher positioned to climate provide chain troubles than mass-market manufacturers as a result of they’ll push increased prices onto customers by way of elevated costs.
Mercedes-Benz, for instance, registered a 25 % fall in deliveries within the fourth quarter of 2021, however nonetheless boosted its EBIT by 12 % in its automobiles and vans division.
BMW’s revenues climbed 12.Four % from final yr to 111 billion euros, with internet revenue reaching a document excessive of 12.46 billion euros.
“We’re in a superb place and optimistic in regards to the future,” Chief Monetary Government Nicolas Peter mentioned.
The corporate will suggest a dividend of 5.eight euros per share, up from final yr’s 1.9 euros, the corporate mentioned.