BMW Group stays on successful march in second quarter
New record sum for sales volume and revenues
Second-best quarterly benefit in a company’s history
Profit before financial outcome amounts to € 2.27 billion
Automotive Segment second-quarter EBIT domain of 11.6%
BMW Group reaffirms targets for financial year 2012
Munich. The BMW Group continued a success during a second entertain as good as in a six-month duration to Jun 2012, achieving new record sum for sales volume and revenues and a second-best Group handling distinction in a company’s history.
Second-quarter revenues rose by 7.3% to € 19,202 million (2011: € 17,888 million). Group benefit remained during a high spin notwithstanding larger investment in new technologies and aloft crew costs: Profit before financial outcome (EBIT) amounted to € 2,270 million (2011: € 2,802 million; -19.0%), giving an handling domain of 11.8%. The second-quarter distinction before taxation (EBT) amounted to € 1,977 million (2011: € 2,650 million; -25,4%) and a net distinction to € 1,277 million (2011: € 1,775; -28.1%).
Higher crew costs, increasing output on expansion and new technologies, heated marketplace foe and a aloft baseline of a prior year’s record second-quarter benefit all contributed to a reduce benefit sum in 2012. Second-quarter benefit in a prior year enclosed a certain well-developed outcome of € 464 million outset from a composition of residual value and credit risk provisions.
Earnings benefited from increasing sales volumes overdue to a company’s immature and appealing indication operation and to potency improvements.
The series of vehicles sole during a three-month duration from Apr to Jun 2012 increasing by 5.4% to a new record figure of 475,011 units (2011: 450,608 units).
Group revenues for a six-month duration increasing by 10.5% to € 37,495 million (2011: € 33,925 million). EBIT for a duration amounted to € 4,402 million (2011: € 4,597 million; -4.2%). The certain well-developed outcome referred to above ensuing from a composition of residual value and credit risk supplies and a softened than approaching off-lease business totalled € 524 million for a initial 6 months of 2011. Profit before taxation and a Group net distinction for a initial half of 2012 amounted to € 4,053 million (2011: € 4,355 million; -6.9%) and € 2,626 million (2011: € 2,917 million; -10.0%) respectively.
Sales volume for a six-month duration rose by 8.1% to a new high of 900,539 units (2011: 833,366 units) — a initial time that some-more than 900,000 vehicles have been sole in a six-month period.
“The BMW Group continued to perform intensely well, both on a second-quarter and half-yearly basis. We have achieved new sales volume and income highs as good as a second best handling distinction in a company’s history”, settled Norbert Reithofer, a Chairman of a Board of Management of BMW AG on Wednesday in Munich.
Second-quarter EBIT domain of 11.6% for Automotive segment
Automotive shred revenues increasing by 4.2% in a second entertain to € 17,366 million (2011: € 16,674 million). EBIT amounted to € 2,021 million (2011: € 2,408 million; -16.1%). This is still a second best shred handling outcome accessible in a company’s story and was achieved notwithstanding a burdens referred to above (increased output on new technologies, aloft crew costs, heated marketplace competition, aloft baseline). The EBIT domain for a Automotive shred was 11.6%, unvaried from a prior quarter. The second-quarter figure in a prior year had enclosed a certain well-developed outcome of € 85 million ensuing from a softened than approaching off-lease business.
Profit before taxation for a duration from Apr to Jun amounted to € 1,751 million (2011: € 2,297 million; -23.8%). Second-quarter giveaway money upsurge generated by a Automotive shred totalled € 853 million.
Revenues for a six-month duration from Jan to Jun climbed by 8.0% to € 33,525 million (2011: € 31,047 million). Segment EBIT amounted to € 3,899 million (2011: € 4,116 million; -5.3%), giving an EBIT domain of 11.6% for a six-month period, matching to that for a quarter. Profit before taxation decreased to € 3,571 million (2011: € 3,902 million; -8.5%). Six-month giveaway money upsurge for a Automotive shred totalled € 2,488 million.
The BMW code accessible worldwide expansion of 8.3% in a initial half of a year with sales of 747,064 units (2011: 689,861 units). Sharp expansion was accessible for a new BMW 1 Series, sales of that increasing by 20.5% to 113,805 units (2011: 94,454 units). The three-door chronicle of this rarely successful indication will go on sale in autumn, including for a initial time a chronicle with a xDrive four-wheel-drive system, so giving a serve boost to sales.
Sales of a BMW 3 Series totalled 193,989 units (2011: 192,927 units; +0.6%). The new BMW 3 Touring model, that is quite sought after in Europe, and a four-wheel-drive Sedan, will strech markets in a march of a second half of a year and emanate serve momentum. The extended wheelbase chronicle of a BMW 3 Series Sedan for a Chinese marketplace will be accessible for smoothness from Aug onwards.
The rarely renouned BMW 5 Series, that continues to be a worldwide personality in a segment, saw sales boost by 4.1% to 177,785 units during a six-month duration (2011: 170,708 units). Sales of a new BMW 6 Series some-more than tripled in a same duration to 10,346 units (2011: 3,213 units). The M6 Coupé will spin accessible in August.
The several models of a X Series also continue to sell well. Six-month sales of a BMW X1 rose by 2.7% to 64,387 units (2011: 62,698 units). The revised indication of a X1 came onto a markets in Jul and will also be accessible in a USA as of September. Sales of a BMW X3 jumped steeply by 38.4% to 74,098 units (2011: 53,522 units). The BMW X5 confirmed a position as shred personality interjection to a 7.5% boost in sales volume to 52,399 units (2011: 48,749 units).
The sum series of MINI code vehicles sole during a initial half of a year went adult by 7.0% to 151,875 units (2011: 141,913 units). The MINI Countryman put in another clever performance, with sales volume adult by 23.4% to 49,588 units (2011: 40,171 units). Sales of a MINI Coupé and a MINI Roadster totalled 6,278 and 4,563 units respectively. The MINI Clubvan will be combined to a MINI indication operation in autumn.
Rolls-Royce continues a success story in a super-luxury segment. With 1,600 units sole during a duration from Jan to Jun (2011: 1,592; +0.5%), six-month sales volume remained during a same high spin as in a prior year. The Rolls-Royce Phantom Series II will be launched during a second half of a year.
Sales volume expansion in North America and Asia, fast sales in Europe
The BMW Group accessible expansion in roughly all regions during a initial half of a year. Despite rarely unlucky business conditions in some tools of Europe, in sole a region’s southern countries, sales volume altogether was kept roughly during a prior year’s high spin with 437,338 units sole (-0.1%). Sales volume in North America rose by 10.3% to 177,423 units, with a series of vehicles sole in a USA rising by 10.4% to 158,961 units.
Strong expansion rates were achieved again in Asia, where 238,731 units (+25.6%) were sole in a initial half of a year. A sum of 159,358 units (+30.6%) were sole in China. In Japan, a series of cars sole rose by 27.3% to 27,737 units.
Improvement in Motorcycles shred handling profit
Second-quarter Motorcycles shred sales volume fell by 4.2% to 37,409 units (2011: 39,061 units). Segment revenues forsaken by 8.9% to € 410 million (2011: € 450 million) due to reduce volumes. EBIT increasing by 2.1% to € 48 million (2011: € 47 million) and a distinction before taxation for a entertain remained during a prior year’s spin of € 47 million.
The series of motorcycles sole during a six-month duration went adult by 0.5% to 64,424 units (2011: 64,110 units), enabling revenues to corner adult by 1.3% to
€ 858 million (2011: € 847 million). EBIT softened by 9.0% to € 85 million (2011: € 78 million) and a distinction before taxation rose by 9.1% to € 84 million (2011: € 77 million).
The marketplace launch of a BMW Scooter in Europe is approaching to yield a boost to sales volumes in a second half of 2012.
Financial Services shred stays on expansion course
The Financial Services shred remained on a expansion march during a second quarter. Segment revenues totalled € 4,866 million (2011: € 4,181 million), 16.4% forward of a prior year’s analogous period. Profit before taxation decreased to € 431 million (2011: € 744 million; -42.1%). The diminution was especially due to a baseline outcome in comparison with a second entertain 2011, when a benefit of € 379 million was accessible by a Financial Services shred from a composition of residual value and cedit risk provision.
Six-month revenues climbed by 15.6% to € 9,666 million (2011: € 8,364 million). Profit before taxation amounted to € 865 million (2011: € 1,173 million; -26.3%). Excluding a well-developed benefit of € 439 million accessible in a prior year, a six-month shred outcome would uncover an alleviation of approximately 10%.
The series of franchise and financing contracts in place with dealers and sell business during 30 Jun 2012 grew by 12.7% to 3,693,474 contracts. These sum embody a portfolio of financing contracts taken over as of 30 Sep on a merger of a ING Car Lease Group. The series of new financing and franchise contracts sealed in a duration from Jan to Jun rose by 10.0% to 346,034.
The BMW Group’s workforce was aloft during 30 Jun 2012, compared to a prior year. The series of employees worldwide increasing by 5.2% to 102,007 (30 Jun 2011: 96,943 employees), whereby partial of a boost was due to a merger of a ING Car Lease Group. In addition, a BMW Group continues to partisan engineers and learned workers in sequence to keep gait with a persisting clever direct for BMW Group cars, to pull forward with innovations and rise new technologies.
BMW Group reaffirms targets for full year
The euro predicament and high open zone debt levels in a series of countries could means a tellurian mercantile meridian to cloud over serve during a second half of a year. “We are monitoring developments really closely in several markets. The BMW Group has a stretchable prolongation network and, as a reward manufacturer, is focused on progressing essential growth”, emphasised Reithofer.
Based on a clever opening in a initial half of a year and a uninformed and appealing operation of car models, a BMW Group reaffirms a targets for a full year. “We still aim to surpass a prior year’s sales volume and pre-tax benefit in 2012”, settled Reithofer.
The expansion of new technologies and investments in a prolongation network will outcome in aloft output for a Automotive shred in a financial year 2012. A deteriorating marketplace meridian could also have a obvious impact on business. Despite these factors, a BMW Group continues to aim an EBIT domain of between 8% and 10% for a Automotive segment. Provided that a tellurian mercantile meridian does not take a serve spin for a worse, a BMW Group forecasts an EBIT domain for 2012 during a top finish of this aim range.
The Financial Services shred continues to aim a lapse on equity of during slightest 18% in a Financial Services shred for a financial year 2012.
The forecasts for a stream year are formed on a arrogance that worldwide mercantile conditions will not mellow sharply. The BMW Group sees risks essentially in a serve decrease of a mercantile conditions in Europe and a slack of expansion in China.
The BMW Group intends to grasp a tolerable EBIT domain of between 8% and 10% in 2012 and beyond. However, depending on domestic and mercantile developments, tangible margins could finish adult being above or next a targeted range.
The BMW Group – an overview
The BMW Group
The BMW Group is one of a many successful manufacturers of automobiles and motorcycles in a universe with a BMW, MINI, Husqvarna Motorcycles and Rolls-Royce brands. As a tellurian company, a BMW Group operates 25 prolongation and public comforts in 14 countries and has a tellurian sales network in some-more than 140 countries.
In 2011, a BMW Group sole about 1.67 million cars and some-more than 113,000 motorcycles worldwide. The distinction before taxation for a financial year 2011 was euro 7.38 billion on revenues amounting to euro 68.82 billion. At 31 Dec 2011, a BMW Group had a workforce of approximately 100,000 employees.
The success of a BMW Group has always been built on long-term meditative and obliged action. The association has therefore determined ecological and amicable sustainability via a value chain, extensive product shortcoming and a transparent joining to conserving resources as an constituent partial of a strategy. As a outcome of a efforts, a BMW Group has been ranked attention personality in a Dow Jones Sustainability Indexes for a final 7 years.
For questions greatfully contact:
Corporate and Governmental Affairs
Mathias Schmidt, Business, Finance and Sustainabilty Communications
Telephone: + 49 89 382-24118, Fax: + 49 89 382-24418
Alexander Bilgeri, Head of Business, Finance and Sustainability Communications
Telephone: +49 89 382-24544, Fax: +49 89 382-24418
e-mail: [email protected]