ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative...
Transcript of ANNUAL ACCOUNTS PRESS CONFERENCE - BMW …...Evolution Efficient combustion engines Innovative...
ANNUAL ACCOUNTS PRESS CONFERENCE
March 13, 2012
ANNUAL ACCOUNTS PRESS CONFERENCE DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE
GEARING OUR SUCCESSFUL PREMIUM BUSINESS TOWARDS THE FUTURE
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 -
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 -
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 €
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
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
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
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
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
Capital expenditure ratio in 2011: 5.4% Strategic target range: <7%
OPTIMISED CAPEX OF 3.7 BILLION € CREATES SCOPE FOR KEY FUTURE PROJECTS
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
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 -
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%
FINANCIAL SERVICES SEGMENT FURTHER EXPANSION OF BMW BANK
WITH ING CAR LEASE, ALPHABET IS EUROPE’S FIFTH-LARGEST FLEET PROVIDER
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 -
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 .
DEVELOPMENT UP TO 2016 STRATEGIC GOALS UPDATED
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.
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.