FRANKFURT -- BMW reiterated its 2005 profit forecast on Monday after a report cited CEO Helmut Panke as lowering the outlook.
"There is no change in our guidance. It remains the same -- profits will be roughly on the same level as last year," a spokesman said.
Dow Jones Newswires had quoted Panke as saying that earnings this year would range between flat and down 10 percent, in comments it said he made to editors from the news agency and the Wall Street Journal on Friday, Oct. 28.
In 2004, the company reported record pretax and net profits of 3.55 billion euros ($4.3 billion) and 2.22 billion respectively.
The company reports third-quarter results on Thursday, Nov. 3.
"I do not exclude the possibility that BMW could post a slight decline in earnings this year," said an equity analyst who has estimated flat profits for the full year at BMW.
"I could also imagine that the group is trying in a very indirect way to get the market to gradually become aware that earnings could come out at the lower end of expectations," he said.