نوشته‌شده در

BMW triples pre-tax earnings with high prices, top-end vehicle sales

BMW triples pre-tax earnings with high prices, top-end vehicle sales

The headquarters of German luxury carmaker BMW is seen in Munich, Germany, August 5, 2020. REUTERS/Michael DalderRegister now for FREE unlimited access to Reuters.comRegisterBERLIN, March 10 (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.Register now for FREE unlimited access to Reuters.comRegisterBMW, 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)Register now for FREE unlimited access to Reuters.comRegisterReporting by Victoria Waldersee, Tristan Chabba
Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles. .

نوشته‌شده در

Treasury Wine shares surge as ex-China growth begins to pay off

Treasury Wine shares surge as ex-China growth begins to pay off

Bottles of Penfolds Grange wine and other varieties, made by Australian wine maker Penfolds and owned by Australia’s Treasury Wine Estates, sit on shelves for sale at a winery located in the Hunter Valley, north of Sydney, Australia, February 14, 2018. REUTERS/David GrayRegister now for FREE unlimited access to Reuters.comRegisterFeb 16 (Reuters) – Treasury Wine Estates (TWE.AX) said on Wednesday its operating earnings outside mainland China jumped 28%, underpinned by growth in its luxury and premium brands, sending shares of the world’s largest standalone winemaker nearly 12% higher.Treasury has had to re-direct supply to the United States, Europe and domestically after a diplomatic row between Canberra and Beijing effectively closed the lucrative Chinese market to Australian wine.The company said it recorded strong growth in its Americas and premium brands businesses, both of which reported a 19% rise in their earnings before interest, tax, SGARA and material items (EBITS).Register now for FREE unlimited access to Reuters.comRegister“Penfolds growth was particularly strong in Asian markets outside of Mainland China … increasing distribution in Asia, domestic markets, Europe and the United States was a key execution highlight,” the company said in a statement.Reported EBITS, excluding Australian COO wine sold in mainland China, rose to A$262.4 million ($187.7 million), narrowly missing market expectations of A$265 million while its total net profit slid 7.5% to A$109.1 million.The company said trading conditions for the remainder of fiscal 2022 were expected to remain broadly in line with the first half across its key markets and channels.”Despite FY22 potentially shaping up to be slightly softer than expectations, we see Treasury doing a commendable job building demand for its products in new markets,” Citi analysts said in a note.Treasury shares jumped as much as 11.8% to A$11.78 in early trading, while the broader market (.AXJO) rose 0.4%.The company said it plans to increase prices across select portfolio brands to partly mitigate the impact of elevated supply chain costs and logistics. The Melbourne-based firm retained its interim dividend of 15 Australian cents per share.($1 = 1.3986 Australian dollars)Register now for FREE unlimited access to Reuters.comRegisterReporting by Tejaswi Marthi and Savyata Mishra in Bengaluru; Editing by Aditya Soni and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles. .