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BMW : World Wide Sales 2002
As announced in the letter to shareholders, total revenues rose by 9.9% to euro 42,282 million in 2002 (2001: euro 38,463 million). Revenues of the Automobiles segment increased by 13.8% to euro 38,179 million (2001: euro 33,542 million) and those of the Motorcycles segment by 6.7% to euro 1,130 million (2001: euro 1,059 million). The Financial Services segment recorded a 9.3% increase in revenues to reach euro 8,213 million (2001: euro 7,514 million). The BMW Group sold more than one million BMW and MINI cars in 2002 for the first time in a single year. In total, the BMW Group sold 1,057,344 units, 16.7% more than in the previous year (905.657 units). As previously announced, the BMW Group was able to improve earnings yet again in 2002 on the back of this dynamic sales performance, thus surpassing the previous year's record results. Automobile production increased again The BMW Group increased automobile production by 15.2% to 1,090,258 units (2001: 946,730). This includes 930,221 BMW cars (2001: 904,335) manufactured in the plants in Munich, Dingolfing, Regensburg, Spartanburg (South Carolina), and Rosslyn (South Africa) as well as at the group's assembly plants, 2.9% more than in the previous year. In addition, 160,037 MINI cars (2001: 42,395) were manufactured at the Oxford plant. The full range of flexible work-time models were used and additional shifts worked in order to meet the strong demand. More than 5,000 new jobs created As a result of the strong performance, the BMW Group created 5,132 new jobs in 2002 mainly in development, production and sales. This represents an increase of 5.3%. As of December 31, 2002, the BMW Group had a worldwide workforce of 101,395 employees. After adjusting for disposals and transfers of group companies, the equivalent headcount at the end of 2001 was 96,263 employees. Approximately three-quarters of the BMW Group workforce are employed in Germany. The headcount in Germany rose by 3,280 employees to 76,143, an increase of 4.5%. The BMW Group recruited another 370 apprentices in 2002 and the total number of apprentices went up by 9.7%. At present, almost 4,200 young people are learning a profession with the BMW Group. Capital expenditure increased significantly In 2002, the BMW Group invested euro 3,185 million in property, plant and equipment and intangible assets. In addition, euro 858 million of expenditure for research and development have been recognized as assets in accordance with IAS, so that total capital expenditure amounted to euro 4,043 million (2001: euro 3,516 million). Outlook for 2003 The world's three main sales regions (North America, Europe, Japan) are not expected to perform consistently in 2003. The BMW Group forecasts that more dynamic economic growth will not be seen until the second half of the year at the earliest. The effects on business of the current tense global political situation remain incalculable. Overall, the BMW Group forecasts that it will continue to perform successfully in 2003. In the words of Dr. Helmut Panke, Chairman of the Board of Management of BMW AG: "With the current product and market offensive gathering momentum, the financial year 2003 will be one of the most important in the history of our enterprise. We will launch more new products in 2003 than in any previous year. We will continue to finance capital expenditure out of cash flow even during this phase of expansion and thus, once again, demonstrate the underlying strength of the BMW Group." The full letter to shareholders is attached to this press release as a pdf-file. You will also find a summary of BMW Group's financial results for 2002. BMW Group In America BMW of North America has been present in the United States since 1975. Since then, the BMW Group in the United States has grown to include marketing, sales and financial service organizations for the BMW, MINI and Roll-Royce brands; DesignworksUSA, an industrial design firm in California; a technology office in Silicon Valley and various other operations throughout the country, including BMW Manufacturing Corp. in South Carolina. The BMW Group sales organization is represented in the U.S. through networks of 340 BMW car, 327 BMW Sports Activity Vehicle, 148 BMW Motorcycle retailers, 70 MINI car dealers and 27 Rolls-Royce motorcar dealers. BMW US Holding Corp., the Group's sales headquarters for North, Central and South America, is located in Woodcliff Lake, New Jersey. 01/30/2003
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