BERLIN (Reuters) -BMW more than tripled its pre-tax earnings to 16 billion euros ($17.67 billion) in 2021, the company said on Thursday, as higher pricing and strong sales of top-end vehicles boosted revenues even as supply chain troubles limited production.
Group revenues climbed 12.4% from last year to 111 billion euros, the company said, with net profit reaching a record high of 12.46 billion.
The premium carmaker will propose a dividend of 5.8 euros per share, up from last year’s 1.9 euros, it said.
BMW, Mini and Rolls-Royce deliveries fell in the fourth quarter by 14.2% due to semiconductor bottlenecks, with rising raw material prices also weighing on earnings.
Quarterly net profit for the group came in at 2.25 billion euros, a third higher than last year but slightly below third quarter’s profits of 2.58 billion.
BMW saw higher unit sales than any other premium carmaker in 2021, delivering 2.5 million cars even as semiconductor shortages restricted output, a victory which has been attributed to its strong relations with suppliers.
“We are in a good position and optimistic about the future,” Chief Financial Executive Nicolas Peter said.
($1 = 0.9053 euros)
(Reporting by Victoria Waldersee, Tristan ChabbaEditing by Madeline Chambers)
