BMW Ireland doubles profits as turnover rises to €176m

Car firm BMW Ireland doubled its profits in 2015 as turnover rose € 38.8 million to € 175.85 million. The German premium car brand recorded profits of € 4.23 million, up from € 1.98 million in 2014, according to accounts for the year ended December 31st, 2015.

The firm noted a marked improvement in retailer profitability, in its directors’ report. “The more positive economic outlook combined with a more evenly distributed improvement in consumer sentiment resulted in an improvement in sales and service business across the country.”

The premium brand recorded a 20.3 per cent increase in sales in 2015 compared to the previous year, with 4,826 new cars registered. Its market share decreased, however, from 4.2 per cent in 2014 to 3.9 per cent last year. Its Mini brand recorded a 36.8 per cent growth in registrations to 662 units, giving it an overall market share of 0.5 per cent.

The company, whose ultimate parent is BMW AG in Germany, employed an average of 19 staff in its head office in Santry last year. Payroll costs amounted to € 2.47 million. Separately directors' emoluments totalled € 365,000.

It held a stock of motor vehicles worth € 62 million at the end of 2015, up from € 50 million at the end of the previous year.