ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative...

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ANNUAL ACCOUNTS PRESS CONFERENCE March 13, 2012

Transcript of ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative...

Page 1: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

ANNUAL ACCOUNTS PRESS CONFERENCE

March 13, 2012

Page 2: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

ANNUAL ACCOUNTS PRESS CONFERENCE DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE

Page 3: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

GEARING OUR SUCCESSFUL PREMIUM BUSINESS TOWARDS THE FUTURE

Page 4: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

AUTOMOTIVE SEGMENT OVERVIEW OF 2011 FINANCIAL YEAR

in million € 2011 2010 Change in %

Retail sales (units) 1,668,982 1,461,166 +14.2

Revenues 63,229 54,137 +16.8

EBIT 7,477 4,355 +71.7

EBT 6,823 3,887 +75.5

EBIT margin (in %) 11.8 8.0 -

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AUTOMOTIVE SEGMENT KEY FINANCIALS 4TH QUARTER 2011

in million € Q4/ 2011 Q4/ 2010 Change in %

Segment revenues 16,838 15,586 +8.0

EBIT 1,542 1,595 -3.3

EBIT margin (in %) 9.2 10.2 -

Page 6: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

AUTOMOTIVE SEGMENT EARNINGS BEFORE FINANCIAL RESULT (EBIT)

4,355 2.177

5.320 5.385 5.385 5.409 5.247 5.247 5.299 7,477

+3,143 +92

-27

+24 +85

-247

+520

-468

+11.8% EBIT margin: +8.0%

in million €

Page 7: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

Evolution Efficient combustion engines

Innovative technologies

Revolution Alternative drive trains

Mobility services

BMW GROUP ON A DUAL TRACK TO THE FUTURE EXPENSES FOR NEW PRODUCTS AND BUSINESS AREAS

Page 8: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

AUTOMOTIVE SEGMENT FREE CASH FLOW

in million € 31 Dec. 2011 31 Dec. 2010

Cash flow from operating activities 7,077 8,149

Cash flow from investing activities -5,725 -5,541

Net investments in securities 781 1,863

Free cash flow 2,133 4,471

Page 9: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

AUTOMOTIVE SEGMENT ADJUSTED FREE CASH FLOW

2,133 2.133

2.758 3.007

3,494

+625 +249

+487

FCF 2011 Kapitalerhöhung BMW Bank

Anteiliger Erwerb ICL-Gruppe

Erwerb SGL Carbon Anteile Adjusted FCF 2011

in mn. €

Capital increase

BMW Bank

Purchase of

SGL Carbon shares

Pro-rated accquisition of

ING Car Lease-Group

Q2

Q4

Q3

Page 10: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

LIQUIDITY INCREASED IN 2ND HALF OF 2011 GOOD ACCESS TO CAPITAL MARKETS GUARANTEED

7.4 7.8

1.6 2.3

0

2

4

6

8

10

12

2010 2011

Cash and cash equivalents Securities

in billion €

9.0

10.1

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SIGNIFICANT INCREASE IN DIVIDEND PAYOUT RATIO OF 30.7%

1.30

2.30

0,00

0,50

1,00

1,50

2,00

2,50

2010 2011

Dividend per ordinary share in €

852

1,508

0

300

600

900

1200

1500

1800

2010 2011

Total dividend in million €

2.00

1.50

1.00

0.50

0.00

2.50

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Capital expenditure ratio in 2011: 5.4% Strategic target range: <7%

OPTIMISED CAPEX OF 3.7 BILLION € CREATES SCOPE FOR KEY FUTURE PROJECTS

Page 13: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

R&D ratio in 2011: 4.9% Strategic target range: 5-5.5%

R&D EXPENSES OF 3.6 BILLION € INCREASE OF ~500 MILLION € TO PREVIOUS YEAR

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FINANCIAL SERVICES SEGMENT KEY FINANCIALS 2011

in million € 2011 2010 Change in %

EBT 1,790 1,214 -

Equity 7,169 5,216

RoE (in %) 29.4 26.1 -

New retail-customer contracts 1,196,610 1,083,154 +10.5

Business volume 75,245 66,233 +13.6

Penetration rate (in %) 41.1 48.2 -

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FINANCIAL SERVICES SEGMENT LOWER CREDIT LOSS RATIO WORLDWIDE

0.54%

0.46%

0.41%

0.37%

0.41% 0.46%

0.59%

0.84%

0.67%

0.49%

0,30%

0,40%

0,50%

0,60%

0,70%

0,80%

0,90%

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

0.90%

0.80%

0.70%

0.50%

0.60% 0.60%

0.40%

0.30%

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FINANCIAL SERVICES SEGMENT FURTHER EXPANSION OF BMW BANK

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WITH ING CAR LEASE, ALPHABET IS EUROPE’S FIFTH-LARGEST FLEET PROVIDER

Page 18: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

MOTORCYCLES SEGMENT OVERVIEW OF 2011 FINANCIAL YEAR

in million € 2011 2010 Change in %

Retail sales (units) 113,572 110,113 +3.1

Revenues 1,436 1,304 +10.1

EBIT 45 71 -36.6

EBIT margin (in %) 3.1 5.4 -

Page 19: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

SEGMENT ELIMINATIONS DECREASE DRIVEN BY GROWTH IN NEW LEASING-BUSINESS

in million € 2011 2010 Change in %

Revenues -13,359 -11,585 15.3

EBIT -1,248 -475 .

EBT -1,103 -358 .

Page 20: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

DEVELOPMENT UP TO 2016 STRATEGIC GOALS UPDATED

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DEVELOPMENT UP TO 2016 STRATEGIC GOALS UPDATED

BMW Group

• BMW Group to expand position as world’s leading premium car manufacturer and leader in

mobility services.

• Maintain focus on efficiency and costs.

Automotive segment

• Sales of over 2 million automobiles.

• Maintain capital expenditure ratio of <7% and R&D ratio of 5-5.5%.

• EBIT margin within target range of 8-10%.

• Targeted expenditure/investment in alternative drive trains, new business areas.

• Targeted rejuvenation and diversification of product portfolio.

Financial Services segment

• Return on Equity of >18%.

• Further expansion of fleet management business.

Page 22: ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative technologies Revolution Alternative drive trains Mobility services BMW GROUP ON A DUAL

OUTLOOK FOR 2012

BMW Group

BMW Group expands its position as the world’s leading premium car manufacturer.

Automotive segment

Record sales for all three premium brands.

EBIT margin at the upper end of 8-10%.

Financial Services segment

Return on Equity of >18%.

Motorcycles segment

Growth through entry into new market segments.