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BMW sees profits rise despite economic crisis

The BMW Group recorded positive earnings last year despite the ongoing financial and economic crisis.

Profit before tax rose by 17.7% to euro 413 million (2008: euro 351m).

Net profit amounted to euro 210m (2008: euro 330m/-36.4%) due to the higher effective tax rate.

However, revenues decreased by 4.7% to euro 50,681m (2008: euro 53,197m).

“We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt," said Norbert Reithofer, chairman of the board of management of BMW.

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