Bayerische Motoren Werke AG · XETR:BMW
Bayerische Motoren Werke — BMW Group — Analyst and Investor Conference 2012
21 slides from Bayerische Motoren Werke's conference presentation, 2012
Slide 1: Analyst and Investor Conference
ANALYST AND INVESTOR CONFERENCE DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE
Slide 2: Gearing our successful premium business towards the future
GEARING OUR SUCCESSFUL PREMIUM BUSINESS TOWARDS THE FUTURE
Slide 3: Automotive Segment: Overview of 2011 Financial Year
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 -
Slide 4: Automotive Segment: Key Financials 4th Quarter 2011
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 -
Slide 5: Automotive Segment: Earnings Before Financial Result (EBIT)
AUTOMOTIVE SEGMENT EARNINGS BEFORE FINANCIAL RESULT (EBIT) in million € +520 +3,143 +92 +24 +85 -27 -247 -468 5.320 5.385 5.385 5.409 5.247 5.247 5.299 7,477 4,355 2.177 EBIT 2010 Volume /Mix Net effect Other op. Depreciation Residual HR expenses ONE ONE EBIT 2011 /Pricing FX/raw income + values Eff
Slide 6: BMW Group on a Dual Track to the Future
BMW GROUP ON A DUAL TRACK TO THE FUTURE EXPENSES FOR NEW PRODUCTS AND BUSINESS AREAS Evolution Revolution Efficient combustion engines Alternative drive trains Innovative technologies Mobility services
Slide 7: Automotive Segment: Free Cash Flow
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
Slide 8: Automotive Segment: Adjusted Free Cash Flow
AUTOMOTIVE SEGMENT ADJUSTED FREE CASH FLOW in million € Q4 +487 Q3 Q2 +249 +625 3,494 3.007 2.758 2,133 2.133 FCF 2011 Capital increase Kapitalerhöhung BMW Pro-rated Anteiligeraccquisition Erwerb ICL-of Erwerb Purchase of Anteile SGL Carbon Adjusted FCF 2011 BMW Bank Bank ING CarGruppe Lease-Group S
Slide 9: Liquidity Increased in 2nd Half of 2011
LIQUIDITY INCREASED IN 2ND HALF OF 2011 GOOD ACCESS TO CAPITAL MARKETS GUARANTEED in billion € 12 10.1 10 9.0 2.3 8 1.6 6 4 7.4 7.8 2 0 2010 2011 Cash and cash equivalents Securities
Slide 10: Significant Increase in Dividend, Payout Ratio of 30.7%
SIGNIFICANT INCREASE IN DIVIDEND PAYOUT RATIO OF 30.7% Dividend per ordinary share in € Total dividend in million € 2,50 2.50 1800 2.30 1,508 1500 2.00 2,00 1200 1.50 1,50 1.30 900 852 1.00 1,00 600 0.50 0,50 300 0.00 0,00 0 2010 2011 2010 2011
Slide 11: Optimised Capex of 3.7 Billion €
OPTIMISED CAPEX OF 3.7 BILLION € CREATES SCOPE FOR KEY FUTURE PROJECTS Capital expenditure ratio in 2011: 5.4% Strategic target range: <7%
Slide 12: R&D Expenses of 3.6 Billion €
R&D EXPENSES OF 3.6 BILLION € INCREASE OF ~500 MILLION € TO PREVIOUS YEAR R&D ratio in 2011: 4.9% Strategic target range: 5-5.5%
Slide 13: Financial Services Segment: Key Financials 2011
FINANCIAL SERVICES SEGMENT KEY FINANCIALS 2011 in million € 2011 2010 Change in % EBT 1,790 1,214 47.4 Equity 7,169 5,216 37.4 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 -
Slide 14: Financial Services Segment: Lower Credit Loss Ratio Worldwide
FINANCIAL SERVICES SEGMENT LOWER CREDIT LOSS RATIO WORLDWIDE 0,90% 0.90% 0.84% 0.80% 0,80% 0.70% 0,70% 0.67% 0.60% 0.60% 0,60% 0.54% 0.59% 0.50% 0,50% 0.46% 0.41% 0.41% 0.49% 0.40% 0.46% 0,40% 0.37% 0.30% 0,30% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Slide 15: Financial Services Segment: Further Expansion of BMW Bank
FINANCIAL SERVICES SEGMENT FURTHER EXPANSION OF BMW BANK
Slide 16: With ING Car Lease, Alphabet Is Europe's Fifth-Largest Fleet Provider
WITH ING CAR LEASE, ALPHABET IS EUROPE’S FIFTH-LARGEST FLEET PROVIDER
Slide 17: Motorcycles Segment: Overview of 2011 Financial Year
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 -
Slide 18: Segment Eliminations Decrease Driven by Growth in Leasing
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 .
Slide 19: Development up to 2016: Strategic Goals Updated
DEVELOPMENT UP TO 2016 STRATEGIC GOALS UPDATED
Slide 20: 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 Automotives. • Maintain capital expenditure rati
Slide 21: Outlook for 2012
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 entr