BMW Group annals pointy expansion in earnings
First-quarter distinction before taxation of euro 508 million
EBIT of Automobiles shred rises to euro 291 million
Further energetic expansion in gain approaching
Reithofer: Group gain to boost neatly for 2010
Sales expansion targeted in plain single-digit commission range
Munich. First-quarter revenues, sales volume and gain of a BMW Group all softened neatly compared to a prior year. Group revenues grew by 8.1% to euro 12,443 million (first entertain 2009: euro 11,509 million). The distinction before taxation increasing to euro 508 million (first entertain 2009: detriment of euro 198 million), while a distinction after taxation softened to euro 324 million (first entertain 2009: detriment of euro 152 million). The distinction before financial outcome (EBIT) was euro 449 million (first entertain 2009: detriment of euro 55 million). The sum series of BMW, MINI and Rolls-Royce code vehicles sole increasing by 13.8% to 315,614 units (first entertain 2009: 277,264 units).
The BMW Group has done a good start to 2010. We increasing gain significantly in a initial entertain and are now behind on a expansion march on roughly all automobile markets, settled Norbert Reithofer, Chairman of a Board of Management of BMW AG on Wednesday in Munich. The BMW Group continues to make good swell with a Strategy Number ONE, he added.
With direct for reward vehicles rising and a launch of new BMW 5 Series certain to supplement movement from a second entertain onwards, a association can demeanour brazen to a residue of a year with some optimism: We design that gain will grow boldly over a march of a year, Reithofer forked out.
Reithofer: 2010 as stepping mill towards achieving profitability targets
The BMW Group is good on a approach towards achieving a targets for a full year: We are aiming to grasp significantly aloft organisation gain in 2010 than in 2009, so creation a discernible step towards achieving a targets we have set for 2012 settled Reithofer. For a year 2012, a BMW Group is targeting an EBIT domain for a Automobiles shred within an unvaried operation of between 8% and 10%.
Attractive products and a light liberation of a tellurian economy will minister to rising sales volumes for a BMW Group: We intend to sojourn a worlds heading provider of reward cars in 2010 and devise to boost a sales volume within a plain single-digit commission operation to over 1.3 million vehicles, underlined Reithofer.
As formerly reported, a Automobiles, Motorcycles and Financial Services segments are all approaching to news softened gain in 2010. The EBIT domain of a Automobiles shred is foresee to grow within a low single-digit commission range.
Automobiles shred reports first-quarter EBIT of euro 291 million
The Automobiles shred achieved good during a initial quarter. The shred distinction softened neatly due to aloft sales volumes worldwide, a higher-value model-mix and softened offered prices. The segments certain EBIT of euro 291 million (first entertain 2009: disastrous EBIT of euro 251 million) some-more than tripled compared to a fourth entertain 2009 (Q4 2009: euro 93 million). The shred distinction before taxation increasing to euro 220 million (first entertain 2009: detriment before taxation of euro 471 million), while revenues rose by 11.1% to euro 10,672 million (first entertain 2009: euro 9,605 million).
Sales volumes were adult on roughly all European and Asian markets as good as in a USA. Growth rates were quite high in Asia, with sales jumping by 55.7% to 58,918 units. In China (including Hong Kong and Taiwan), a BMW Group some-more than doubled a series of cars sole to 36,607 units (+100.5%).
Business also grew significantly in North America with a sales volume of 60,734 units (+9.2%). The series of cars sole in a USA rose by 7.5% to 55,141 units. The several markets in Europe grown inconsistently, with sales rising altogether by 4.4% to 177,031 units.
The BMW code accessible worldwide expansion of 13.8% in a initial entertain with sales of 265,809 units (first entertain 2009: 233,498 units). The BMW 7 Series purebred clever expansion (+54.1%) with a sales volume of 14,245 units (first entertain 2009: 9,246 units). The BMW 7 Series is so a worlds best-selling indication operation in a segment. The BMW ActiveHybrid7 is also receiving a really certain response from customers. The initial vehicles have been handed over to business and a indication will spin accessible worldwide over a march of summer 2010. The BMW X1, introduced during a finish of Oct 2009, is also behaving good with 19,657 units sole during a initial entertain 2010. 4,484 units of a 5 Series Gran Turismo were sole during a same period.
The sales volume of a BMW X5 increasing by 4.8% to 22,897 units (first entertain 2009: 21,853 units) and that of a X6 by 21.2% to 10,826 units (first entertain 2009: 8,931 units). The BMW Z4 is offered really good with customers, quadrupling sales volume to 6,461 units (first entertain 2009: 1,563 units). The BMW 1 Series (47,909 units) and a BMW 3 Series (91,619 units) both accessible a expansion rate of 2.4%, while sales of a BMW X3 (down by 9.3% to 11,693 units) and a BMW 6 Series (down by 39.1% to 1,340 units) fell due to indication life-cycle factors.
This was also a box for a BMW 5 Series Sedan and Touring vehicles, sales of that fell by 3.4% to 39,162 units as a outcome of a indication change. The new 5 Series Sedan has been on a marketplace given a finish of Mar and a new 5 Series Touring will follow in mid-September. Order-intake for a new 5 Series is excellent, commented Reithofer.
The series of MINI code cars sole increasing by 13.6% to 49,526 units (first entertain 2009: 43,592 units) comprising a MINI Convertible (5,954 units), a Clubman (7,404 units) and a MINI (36,168 units). The MINI Countryman will go on sale worldwide in a second half of 2010, additionally sensitive sales demand.
The Rolls-Royce code accessible a best first-quarter sales volume opening to date, with sales adult by 60.3% to 279 units (first entertain 2009: 174 units). The new Rolls-Royce Ghost, of that 158 units were sole during a period, was intensely successful.
Inventories increasing as a outcome of clever expansion in China and a marketplace introduction of a new 5 Series Sedan. The longer time taken to ride vehicles to a rising markets, quite in Asia, requires prolongation in advance. This boost in inventories in spin resulted in a euro 445 million boost in operative collateral for a Automobiles segment. This was a categorical cause for a first-quarter diminution in giveaway money upsurge (euro – 323 million). Liquidity remained during a high turn during a initial quarter, finishing a duration during euro 9.7 billion.
BMW Motorrad annals softened first-quarter earnings
BMW Motorrad accessible softened first-quarter revenues and gain interjection to increasing sales volumes, so bucking a worldwide trend on a motorcycle markets. Segment revenues rose by 21.0% to euro 351 million (first entertain 2009: euro 290 million). Segment EBIT increasing by 14.3% to euro 32 million (first entertain 2009: euro 28 million) and a distinction before taxation softened by 15.4% to euro 30 million (first entertain 2009: euro 26 million).
Sales of BMW code motorcycles in a initial entertain increasing by 20.9% to 20,840 units (first entertain 2009: 17,232 units). The S 1000 RR, that was launched in Dec 2009, is now accessible worldwide. The technical ascent of a R 1200 GS and a revised R 1200 RT have been accessible given Feb 2010.
Sharp arise in Financial Services shred earnings
The Financial Services shred achieved good during a initial quarter, stability a certain expansion seen in new months. At euro 4,004 million (first entertain 2009: euro 4,003 million), shred revenues were probably matching to a prior year. The pre-tax distinction softened to euro 222 million (first entertain 2009: euro 72 million) due to new business with softened margins and significantly reduce refinancing costs. First-quarter shred EBIT increasing to euro 213 million (first entertain 2009: euro 70 million).
At 31 Mar 2010, a Financial Services shred was handling a portfolio of 3,107,568 franchise and credit financing contracts, 3.3% some-more than in a prior year. The Credit financing and franchise businesses grew merely during a initial quarter. The series of new contracts rose by 7.4% to a sum of 243,343 contracts worldwide. The expansion of credit financing, adult 11.0% on a initial entertain final year, contributed generally to this performance. Lease business volumes were during a identical turn to a prior year (-0.5%). Lease contracts and credit financing accounted for 28.9% and 71.1% of new business respectively. The suit of new cars of a BMW Group financed or leased by a Financial Services shred was 46.8%, 1.1 commission points next a suit accessible one year earlier.
Workforce of 95,787 employees during finish of initial quarter
The BMW Group had a workforce of 95,787 employees during a finish of a initial entertain (31 Mar 2009: 99,112 employees), 3.4% fewer than one year earlier. Compared to a finish of 2009 (96,230 employees) a workforce remained probably unvaried (-0.5%).
The full Quarterly Report to 31 Mar 2010 is accessible for download during www.bmwgroup.com/ir. As a worlds many tolerable carmaker, a BMW Group has motionless not to yield a printed duplicate of a quarterly report.
The BMW Group an Overview
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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.