BMW Records First Half Net Loss of $44.6 Million

Publish Date: 
Aug 4, 2009

BMW posted a net loss of €31 million ($44.6 million) for the half-year, ended June 30, down compared to a profit of €994 million during the same six-month period in 2008. Revenues for the recently ended half-year period totaled €24.48 billion ($35.23 billion), down compared to €27.83 billion during the same six months last year.

BMW's motorcycle business achieved first-half revenue of €626 million ($900.78 million), down 15.1 percent compared to revenue of €737 million during the same six-month period in 2008. The motorcycle business achieved before-tax profit of €50 million ($71.95 million) for the first half of the year, down compared to €87 million during the same six months last year.

BMW says it cut back motorcycle production in response to the difficult economic climate. The German OEM's motorcycle production during the first six months of the fiscal year totaled 50,263 units, down 17 percent compared to 60,561 units produced during the same six-month period in 2008. Deliveries during the recently ended half-year totaled 46,974 units, down 16 percent compared to 55,932 units delivered during the same period last year.

A total of 33,117 BMW motorcycles were sold in Europe during the first half of 2009, 20.3 percent fewer than during the first half of 2008. Six-month sales volume figures fell short of the previous year's levels in numerous countries. Adverse business conditions were experienced in the United States (4,966 units, down 3.6 percent), Japan (1,391 units, down 5.9 percent), Germany (7,648 units, down 26.6 percent), Spain (2,827 units, down 42.1 percent), France (3,470 units, down 25.3 percent) and Italy (8,331 units, down 16.9 percent).

HUSQVARNA

Husqvarna motorcycle production during the first six months of the year totaled 4,117 units. Deliveries during the recently ended half-year totaled 4,867 units.

OUTLOOK

BMW leadership says, despite the positive signs heralded by a number of early indicators, the global recession is not likely to come to an end until sometime in 2010. (Continued)