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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

(BMW)
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Bayerische Motoren Werke : SEC fines BMW $18 million for inflating U.S. sales figures

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09/25/2020 | 11:11am EDT

Federal regulators have fined German luxury automaker BMW$18 million for inflating retail sales figures in the United States.

The Securities and Exchange Commission levied the fine against the company and BMW subsidiaries for giving what it called "inaccurate and misleading" information.

BMW also paid dealers to inaccurately include demonstration and loan vehicles in their sales figures, the SEC said.

Regulators say the automaker improperly adjusted its sales reporting calendar in 2015 and 2017 to meet internal goals and bank excess sales for future use.

The regulatory agency said BMW reported the inflated figures while raising nearly $20 billion from investors in several corporate bond offerings.

"Companies accessing U.S. markets to raise capital have an obligation to provide accurate information to investors," Stephanie Avakian, SEC director for the division of enforcement, said in a statement Thursday.

"BMW misled investors about its U.S. retail sales performance and customer demand ... while raising capital in the U.S."

"This settlement illustrates the significant benefits to companies for providing concrete cooperation," added SEC enforcement associate director Anita Bandy.

Copyright 2020 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source US Top News


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Financials
Sales 2020 95 910 M 114 B 114 B
Net income 2020 2 963 M 3 510 M 3 510 M
Net cash 2020 17 486 M 20 714 M 20 714 M
P/E ratio 2020 14,1x
Yield 2020 2,17%
Capitalization 41 241 M 48 818 M 48 854 M
EV / Sales 2020 0,25x
EV / Sales 2021 0,22x
Nbr of Employees 133 778
Free-Float 57,3%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 69,96 €
Last Close Price 63,93 €
Spread / Highest target 87,7%
Spread / Average Target 9,43%
Spread / Lowest Target -45,8%
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Managers
NameTitle
Oliver Zipse Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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