BMW makes loss in first quarterMay 6th, 2009 - 4:07 pm ICT by IANS
Munich, May 6 (DPA) The world’s leading luxury carmaker BMW swung into a first quarter loss, the company said Wednesday, as the global recession reduced demand for premium vehicles.
Munich-based BMW reported a 152-million-euro ($202 million) net loss during the first three months of the year and said it was unable to provide a reliable full-year forecast amid the crisis in the world car industry.
“In view of the difficult conditions still prevailing on the financial markets, we remain focussed in our efforts to improve our liquidity position,” BMW chief Norbert Reithofer said releasing the results.
BMW’s net first-quarter loss came after it posted a net profit of 487 million euros in the first three months of last year.
The carmaker said its earnings before interest and tax (EBIT) also recorded a 55 million-euro loss compared with a 827 million-euro profit in 2008 with first-quarter revenue falling by 13.4 percent to 11.5 billion euros from 13.3 billion euros.
- Ford Q1 profit down 45 percent year on year - Apr 28, 2012
- Fiat profit more than doubled in fourth quarter - Feb 03, 2012
- Panasonic returns to profit in first quarter - Jul 29, 2010
- Ford Q2 net income down - Jul 26, 2012
- Wipro sees higher IT revenue in Q3 on strong growth - Oct 22, 2010
- Fiat to sell industrial unit in stock market - Apr 22, 2010
- Listed Chinese companies see narrowing profits - Apr 23, 2012
- Pandit's Citi makes profit with India sale - Apr 17, 2012
- GM posts $7.6 bn net profit for 2011 - Feb 17, 2012
- Emaar Properties posts $451 mn profit - Jul 23, 2010
- Kingfisher Airlines faces operational shutdown, says CAPA - Aug 24, 2012
- BMW to pull out of F1 at end of season (Lead) - Jul 29, 2009
- LG Electronics posts $394 mn operating profit - Apr 25, 2012
- Indian Bank posts 13 percent growth in net profit - Jul 23, 2012
- Air China Q3 profits fall - Oct 28, 2011
Tags: bmw, car industry, earnings, euro profit, financial markets, first quarter, first three months, global recession, liquidity position, luxury carmaker, months of the year, munich, net profit, norbert, quarter loss, quarter revenue, world car