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.
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