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Automotive Intelligence News

News of  March 20, 2002
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2001 is BMW Group's most successful year ever

  • Pre-tax profit rises to Euro 3,242 million
  • Dividend increase proposed
  • Stefan Krause appointed as member of the Board of Management, Finance

Munich - The year 2001 was by far the most successful in the corporate history of the BMW Group. In the first full year after setting out on a new strategy, the Group's profit from ordinary activities, on an IAS basis, rose euro 1,210 million (+59.5%) to euro 3,242 million (2000: euro 2,032 million). International Accounting Standards (IAS) were adopted for financial reporting in 2001.

Group revenue grew by 3.3% to euro 38,463 million and net profit for the year improved to euro 1,866 million (+54.3%). Return on sales on an IAS basis was 8.4% (2000: 5.5%). The equivalent figures on an HGB basis (i.e. German GAAP) in 2001 and 2000 were 7.3% and 4.7% respectively. (Please note that all figures in the following analyses are presented on an IAS basis. The equivalent figures on an HGB basis are shown in the attached table).

Dividend increase proposed

At the Annual General Meeting, the Board of Management and the Supervisory Board will propose that the unappropriated profit of BMW AG of euro 350 million be used to pay a dividend of euro 0.52 per share of common stock (2000: euro 0.46) and euro 0.54 per share of preferred stock (2000: euro 0.48) on the share capital of the Company comprising euro 622.2 million common stock and euro 49.6 million preferred stock divided into shares with a nominal value of euro 1 each. This represents an increase in the dividend of 13% (common stock) and 12.5% (preferred stock).

All segments record higher results

The profit from ordinary activities of the Automobiles segment increased by 2.2% to euro 2,792 million despite the high level of costs incurred for the on-going product and market offensive. The Motorcycles segment also surpassed its previous year's result by 78.8% and recorded a profit from ordinary activities of euro 59 million. The Financial Services segment' s profit from ordinary activities increased to euro 390 million (+11.1%).

Earnings per share of common stock and preferred stock in 2001 (in accordance with IAS 33) were euro 2.78 and euro 2.80 respectively. In the previous year, earnings per share were euro 1.80 and euro 1.82 respectively on an IAS basis. On an HGB basis and computed using the formula of the DVFA/SG, earnings per share in 2001 (including a one-off benefit of euro 0.27 per share due to changes in German tax legislation) increased to euro 2.67. The equivalent value in 2000 was euro 1.63.

Business expected to develop positively

The favourable business development seen in the past year has continued in the first two months of the new fiscal year. In the words of Prof. Dr.-Ing. Joachim Milberg, the Chairman of BMW AG "We anticipate that the positive trend will continue throughout the fiscal year 2002 and that the BMW Group will therefore be able to post improvements on all key performance indicators".

Stefan Krause appointed as member of the Board of Management, Finance At its meeting held today, the BMW AG Supervisory Board appointed Stefan Krause as member of the Board of Management responsible for Finance to succeed Dr. Helmut Panke. As already announced, Dr. Helmut Panke, who is currently responsible for Finance, will become Chairman of the Board of Management when Prof. Dr.-Ing. Milberg stands down on 16 May 2002 at the end of the Annual General Meeting. Prof. Milberg's appointment to the Supervisory Board will be proposed at the Annual General Meeting on 16 May 2002.

(March 11,2002)

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