BMW Boosts Net Profit 4%

BMW AG netted €5.1 billion ($6.6 billion) last year compared with €4.9 billion ($6.4 billion) in 2011. Earnings before interest and taxes rose 4% to €8.3 billion ($10.8 billion).

Revenue climbed 12% from 2011 to a record €76.8 billion ($99.6 billion). Auto deliveries increased 11% to a record 1.85 million units. BMW predicts its global vehicle sales will set a new record this year.

In the fourth quarter of 2012, the company's EBIT jumped 14% year over year to €1.9 billion ($2.5 billion). Revenue grew 12% to €20.5 billion ($26.6 billion) as auto deliveries advanced 17% to 509,700 units.

For the full year, BMW's auto unit hiked revenue 11% to €70.2 billion ($91 billion). Automotive EBIT edged up 2% to €7.6 billion ($9.9 billion). As a result, unit's EBIT slipped to 10.9% of revenue from 11.8% in 2011.

In Europe, the group eked out a 1% sales gain to 865,400 vehicles last year. Volume jumped 31% to 493,400 units in Asia, including a 40% surge to 327,300 vehicles in China. Group demand climbed 12% to 425,400 units in the Americas.

The company's three car brands all set sales records in 2012. Volume increased 12% to 1.54 million vehicles at the BMW brand, 6% to 301,500 units at Mini and 1% to 3,600 cars at Rolls-Royce.