BMW full-year profit falls 17% as SUV demand helps offset r&d costs

FRANKFURT — BMW said its 2019 operating profit fell 17 percent but record demand for high-margin crossovers helped the automaker offset higher R&D spending.

Full-year earnings before interest and tax (EBIT) fell to 7.41 billion euros ($8.26 billion), resulting in an operating margin in its automotive division of 4.9 percent, BMW said, pre-releasing figures before its annual press conference on March 18.

Thanks to record sales of 2.5 million vehicles in 2019, BMW said it would propose a dividend of 2.50 euros per common share.