Visible swell in 2010 towards profitability targets for 2012 +++ Volume expansion in plain single-digit commission operation targeted

Posted on 30. Nov, 1999 by in BMW Canada

BMW Group skeleton pointy boost in organisation earnings

Visible swell in 2010 towards profitability targets for 2012
Volume expansion in plain single-digit commission operation targeted

Munich. The BMW Group is targeting a poignant alleviation in organisation gain for a stream year. We are streamer into a new business year with discreet certainty and are targeting organisation gain good above a turn reported for a past year. We wish to see manifest swell in 2010 in a instruction of a profitability targets for 2012, settled Norbert Reithofer, Chairman of a Board of Management of BMW AG during a Annual Accounts Press Conference on Wednesday in Munich. For a year 2012, a BMW Group is targeting an EBIT domain for a Automobile shred within an unvaried operation of between 8 and 10 percent.

The Automobiles, Motorcycles and Financial Services segments are all set to news improved gain in 2010. The EBIT domain of a Automobiles shred is foresee to strech a low single-digit percentage.

Attractive new products and a approaching light mercantile liberation worldwide will also minister to sales volume expansion for a BMW Group in 2010. We intend to sojourn a worlds heading provider of reward cars in 2010 and devise to boost sales within a plain single-digit commission operation to over 1.3 million vehicles, combined Reithofer.

One of a many critical indication developments in 2010 is a new BMW 5 Series that will be launched during a finish of March, so providing serve movement from a commencement of a second quarter. The BMW 5 Series will comment for roughly one fifth of BMW-brand sales. The new BMW X1 and BMW 5 Series Gran Turismo models both of that were really successfully launched during a finish of 2009 will also have a certain impact on sales opening in 2010. The MINI Countryman will be introduced to a markets during a stream year. The BMW 3 Series Coup, 3 Series Convertible and a BMW X5 have also been revised.

BMW Group reported pre-tax distinction of euro 413 million for 2009

The BMW Group available certain gain for a financial year 2009 as designed notwithstanding a ongoing worldwide financial and mercantile crisis. We have successfully risen to a hurdles acted in 2009 within a formidable marketplace sourroundings worldwide. We managed to revoke costs in all areas. Our potency alleviation measures have been temperament fruit, even yet a effects of a worldwide financial and mercantile predicament could still be felt, continued Reithofer.

The organisation distinction before taxation rose by 17.7% to euro 413 million (2008: euro 351 million). Net distinction amounted to euro 210 million (2008: euro 330 million/-36.4%) due to a aloft effective taxation rate. Revenues decreased tolerably by 4.7% to euro 50,681 million (2008: euro 53,197 million).

Based on a offer of a Board of Management and Supervisory Board, a division will sojourn unvaried opposite a prior year during euro 0.30 per share of common batch and euro 0.32 per share of elite stock. We are proposing a division for 2009 notwithstanding a formidable mercantile climate, demonstrating a certainty we have in a handling strength, Reithofer forked out.

Automobiles shred annals fourth-quarter EBIT of euro 93 million

Earnings of a Automobiles shred fell neatly in 2009 due to reduce sales volumes brought about by a diseased economies worldwide. Nevertheless, interjection to potency improvements and a some-more fast marketplace sourroundings towards a finish of a year, a shred was means to beget a fourth-quarter distinction before financial outcome (EBIT) of euro 93 million. For a full year, a shred available a disastrous EBIT of euro 265 million (2008: certain EBIT of euro 690 million) and a detriment before taxation of euro 588 million (2008: distinction before taxation of euro 318 million). Revenues fell to euro 43,737 million (2008: euro 48,782 million).

In total, a BMW Group sole 1,286,310 BMW, MINI and Rolls-Royce code vehicles in 2009 (2008: 1,435,876 units/-10.4%). This opening enabled a BMW Group to boost a marketplace share in a reward shred and, as formerly announced, to keep a position as a worlds heading reward carmaker.

A sum of 1,068,770 BMW code cars (2008: 1,202,239 units/-11.1%) were sole in 2009, putting a BMW code once again good forward of applicable competitors in a reward segment. Strong sales increases were achieved by a BMW 7 Series (52,680 units/+35.7%), a BMW X6 (41,667 units/+56.8%) and a BMW Z4 (22,761 units/+26.4%). In Germany, both 7 Series (7,439 units/+74.8%) and a BMW X5 (10,933 units/-31.9%) and X6 (4,940 units/+51.0%) finished a year as transparent leaders in their applicable segments. Since their launch during a finish of Oct 2009 adult to a finish of a year, 8,499 units of a BMW X1 and 3,052 units of a 5 Series Gran Turismo had been sole worldwide.

The MINI code sole 216,538 units worldwide in 2009 (2008: 232,425 units/ -6.8%). The indication brew remained during a high level: some-more than one half of a brands business (53.6%) opted for a MINI Cooper, with 26.2% selecting a MINI Cooper S and 20.2% a MINI One.

Rolls-Royce sole 1,002 engine cars (2008: 1,212 units/-17.3%) during a year, so remaining a transparent marketplace personality in a ultra-luxury segment. The new Rolls-Royce Ghost done a good start, with 167 vehicles handed over to business in Dec 2009.

The BMW Group grew strongly in 2009 in a rising markets of China (90,536 units/+37.5%), Brazil (6,398 units/+118.8%) and India (3,619 units/+24.4%), achieving new sales annals in all 3 markets. “We devise to grow a sales again in China, Brazil and India in a stream year , settled Reithofer. Germany was a largest singular marketplace for a association in 2009 for a BMW and MINI code cars, with a sum of 258,012 units (2008: 284,786 units/ -9.4%) sold. With 33,517 cars handed over to customers, a MINI code available a many successful year in Germany to date. The BMW Group also skeleton to boost sales in a German marketplace during 2010, and hence, to boost a marketplace share in a reward segment.

In a USA, a BMW Group sole 241,727 vehicles (2008: 303,190 units/ -20.3%) during a past year. The BMW brand, with 196,502 units sold, remained a best behaving European reward automobile code in a USA. The BMW Group forecasts that sales will boost in a US marketplace during a stream year.

Automobiles shred practiced giveaway money upsurge during around euro 1.5 billion

The handling money upsurge in a past financial year increasing by 10.1% to euro 4,921 million (2008: euro 4,471million). The practiced giveaway money upsurge of a Automobiles shred in 2009 approximated roughly euro 1.5 billion. The practiced figure was euro 2.2 billion: euro 1.6 billion relating to a externalisation of a serve tranche of a Groups German grant obligations and approximately euro 600 million used to squeeze short-term commercial securities. The change to commercial bonds as a liquidity haven was done in sequence to grasp a some-more enlightened return. On an unadjusted basis, a giveaway money upsurge of a Automobiles shred in 2009 was a disastrous euro 754 million.

EBIT of euro 19 million for Motorcycles shred in 2009

The gain opening of a Motorcycles shred in 2009 was also adversely influenced by formidable business conditions. EBIT fell to euro 19 million (2008: euro 60 million). Segment revenues totalled euro 1,069 million (2008: euro 1,230 million). With 87,306 units (2008: 101,685 units/
-14.1%) sole worldwide, BMW Motorrad available a assuage dump in sales volume compared to a marketplace as a whole.

Sharp arise in gain of Financial Services segment

Earnings of a Financial Services shred rose extremely in 2009 following a poignant weight final year due to additional charges for residual value and credit risks. The EBIT rose to euro 355 million (2008: disastrous EBIT of euro 216 million) and a pre-tax outcome incited around from a detriment of euro 292 million in 2008 to a distinction of euro 365 million in 2009. Segment revenues totalled euro 15,798 million (2008: euro 15,725 million). The boost in a credit detriment ratio to 0.84% (2008: 0.59%) was in line with expectations.

The volume of new sell patron contracts declined by 15.8% to euro 24,709 million. The suit of new BMW and MINI code cars financed by a Financial Services shred amounted to 49.0%, adult by 0.5 commission points compared to a prior year.

Reduction in collateral output reflects optimised use of capital

Capital output was reduced in 2009 to euro 3,471 million (2008: euro 4,204 million) interjection to optimised use of collateral such as longer function of existent prolongation structures and reduced complexity in automobile variants. As good as estimable investment in a future, a categorical concentration was on product collateral output for a BMW 5 Series, 5 Series Gran Turismo, X1, MINI Convertible and a Rolls-Royce Ghost.

A sum of euro 2,384 million (2008: euro 2,980 million) was invested in property, plant and apparatus and other unsubstantial assets. In further to this came capitalised growth costs of euro 1,087 million (2008: 1,224 million). The collateral output ratio in 2009 was 6.8% (2008: 7.9%) and thereby within a aim operation of next 7 percent set in and with Strategy Number ONE.

Workforce of approximately 96,000 employees during finish of 2009

The BMW Groups workforce decreased over a past year as a outcome of a multiple of healthy attrition, pre-retirement part-time operative arrangements and intentional practice agreement stop agreements. The BMW Group workforce comprised 96,230 employees during a finish of a year (December 31, 2008: 100,041 employees/-3.8%) worldwide. The series of trainees remained during a high level, namely 3,915 compared to 4,102 one year earlier.

The BMW Group an Overview

in %
Vehicle productionAutomobiles1,258,4171,439,918-12.6Thereof:1,043,8291,203,482-13.3BMW (units)MINI (units)213,67235,019-9.1Rolls-Royce (units)9181,417-35.2Motorcycles (units)82,631104,22-20.7Deliveries to customersAutomobiles1,286,3101,435,876-10.4Thereof:1,068,7701,202,239-11.1BMW (units)MINI (units)216,538232,425-6.8Rolls-Royce (units)1,0021,212-17.3Motorcycles (units)87,306101,685-14.1Workforce during finish of year196,23100,041-3.8Capital Expenditure
(euro million)3,4714,204-17.4Revenues (euro million)50,68153,197-4.7Thereof:43,73748,782-10.3Automobiles (euro million)Motorcycles (euro million)1,0691,23-13.1Financial Servicesy
(euro million)15,79815,7250.5Operating money flow2
(euro million)4,9214,47110.1Profit before financial result
(euro million)289921-68.6Thereof:-265690-Automobiles (euro million)Motorcycles (euro million)1960-Financial Services
(euro million)355-216-68.3Profit before tax
(euro million)41335117.7Income taxes (euro million)-203-21-Net profit (euro million)210330-36.4Earnings per share3 (euro)0.31/0.330.49/0.51-Dividend per share of
common/preferred batch (euro)
0.30/0.320.30/0.32-1 total bar asleep practice contracts, employees in a work and non-work
phases of pre-retirement part-time arrangements and low salary earners.2 Automobiles segment3 gain per share in suitability with IAS 33 for common and elite batch shares

The BMW Group

With a 3 brands — BMW, MINI and Rolls-Royce a BMW Group is one of a worlds many successful reward manufacturers of cars and motorcycles. It operates internationally with 24 prolongation sites in 13 countries and a tellurian sales network with illustration in some-more than 140 countries.

During a financial year 2009, a BMW Group sole approximately 1.29 million cars and some-more than 87,000 motorcycles worldwide. The distinction before taxation for 2009 was euro 413 million, revenues totalled euro 50.68 billion. At 31 Dec 2009, a BMW Group had a workforce of approximately 96,000 employees.

Long-term meditative and obliged movement have prolonged been a substructure of a BMW Groups success. Striving for ecological and amicable sustainability along a whole value-added chain, holding full shortcoming for a products and giving an undeniable joining to preserving resources are primary objectives resolutely embedded in a corporate strategies. For these reasons, a BMW Group has been zone personality in a Dow Jones Sustainability Indices for a final 5 years.

For questions greatfully contact:

Corporate and Governmental Affairs

Mathias Schmidt, Finance Communications
Telephone: (+ 49 89) 382-24118, Fax: (+ 49 89) 382-24418

Marc Hassinger, Business and Finance Communications
Telephone: (+49 89) 382-23362, Fax: (+49 89) 382-24418


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