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Ημέρα η σημερινή όπου η BMW ανακοίνωσε τα οικονομικά της αποτελέσματα για το πρώτο τρίμηνο του 2013. Τα συνολικά της έσοδα ανήλθαν σε 17,55 δις ευρώ (-4,1% σε σχέση με την ίδια περίοδο του 2012) με τα καθαρά κέρδη να μειώνονται κατά 3%, αφού ανήλθαν σε 1,31 δις ευρώ, έναντι 1,35 δις το 2012.


Συνολικά το BMW Group (BMW, MINI και Rolls-Royce ) πούλησε από την αρχή του έτους 448.200 αυτοκίνητα (+5,3), με την BMW να δηλώνει ότι είναι εντός των στόχων που είχε θέσει για το 2013.

Για ακόμη μια φορά η BMW έκανε γνωστό ότι ετοιμάζει 25 νέα μοντέλα έως τα τέλη του 2014, 10 εκ των οποίων θα είναι εντελώς νέα μοντέλα.

Περισσότερες λεπτομέρειες μπορείς να βρεις στο δελτίο τύπου που ακολουθεί.

[Πηγή: BMW]

Δελτίο Τύπου

BMW Group with successful start to new financial year

  • First-quarter Group revenues at € 17.5 billion
  • Group EBIT of € 2.0 billion
  • Group EBT also € 2.0 billion
  • Group net profit amounts to € 1.3 billion
  • EBIT margin of 11.6% for the Group
  • BMW Group reaffirms outlook for full year 2013

Munich. The BMW Group continued to perform well in the first quarter of 2013. Group revenues totalled € 17,546 million (2012: € 18,293 million; -4.1%). Despite higher expenditure on new technologies, increased personnel expenses and challenging market conditions worldwide, the profit before financial result (EBIT) for the three-month period totalled € 2,039 million (2012: € 2,134 million; -4.5%), the second highest result ever achieved by the Group in a first quarter. The EBIT margin for the Group was 11.6%.

Profit before tax (EBT) for the period from January to March amounted to € 2,003 million (2012: € 2,080 million; -3.7%). Group net profit came in at € 1,312 million (2012: € 1,352 million; -3.0%). The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers worldwide in the first three months of 2013 rose by 5.3% to 448,200 units (2012: 425,528 units).

Reithofer: Revenues and earnings at high levels

“Despite the current weakness of car markets in Europe, the BMW Group has made a good start to the new financial year 2013. We achieved a new sales volume record for a first quarter. And despite high expenditure on new technologies and challenging market conditions worldwide, we managed to keep revenues and earnings at high levels. At 9.9%, the operating margin in the Automotive segment for the three-month period was at the top end of the return corridor we aspire to achieve on a sustainable basis”, stated Norbert Reithofer, the Chairman of the Board of Management of BMW AG on Thursday in Munich.

Automotive segment: EBIT of € 1.58 billion

First-quarter revenues for the Automotive segment totalled € 15,907 million (2012: € 16,159 million; -1.6%) and were thus at a similarly high level to the previous year. As a result of high expenditure on new technologies, a changed regional sales mix and generally challenging market conditions, EBIT amounted to € 1,582 million and was therefore lower than the previous year’s corresponding figure (2012: € 1,880 million; -15.9%). The first-quarter EBIT margin for the Automotive segment was 9.9%. Profit before tax amounted to € 1,516 million (2012: € 1,822 million; -16.8%).

The BMW brand set a new sales volume record for a first-quarter, thereby helping it to maintain its leading position in the premium segment worldwide. Sales volume climbed by 7.0% to 381,404 units (2012: 356,548) units. The BMW X1, 3 Series, 5 Series and 7 Series models each remained market leader worldwide in their relevant segments.

The BMW 1 Series achieved a sales volume of 53,906 units in the first quarter (2012: 54,160 units; -0.5%), almost reaching the previous year’s figure. The BMW 3 Series registered sharp growth (19.9%) with 109,309 units sold (2012: 91,189 units). The BMW 5 Series also continues to sell very well, with sales volume rising by 4.3% to 85,731 units (2012: 82,231 units). The BMW 6 Series again performed extremely well with 6,174 units sold (2012: 4,651 units; +32.7%).

The various models of the BMW X family also sold well during the period from January to March. Sales of the BMW X1 jumped by 27.6% to 37,680 units (2012: 29,532 units). The BMW X3 and BMW X5 recorded first-quarter sales of 36,189 units (2012: 35,248 units) and 27,274 units (2012: 26,563) respectively, in both cases corresponding to a growth rate of 2.7%. Sales of the BMW X6 totalled 9,769 units (2012: 11,048 units; -11.6%).

A total of 66,154 MINI brand cars were delivered in the first quarter (2012: 68,210 units; -3.0%). Sales of the MINI Countryman rose by 7.1% to 23,559 units (2012: 22,001 units). The MINI Roadster more than doubled its unit sales volume for the period to 2,288 units (2012: 980 units). Sales of the MINI Hatch totalled 29,519 units (2011: 30,692 units; -3.8%). Production lines at the Oxford plant were closed for renovations for four weeks during the reported period. In March, the MINI family was expanded to include a seventh member, the MINI Paceman , a Sports Activity Coupé, which is expected to help boost sales volume in the further course of the year.

In the super-luxury class segment, Rolls-Royce sold 642 vehicles in the first quarter, 16.6% fewer than the 770 units reported one year earlier. In March, Rolls-Royce Motor Cars presented the Wraith, the most powerful Rolls-Royce ever made. Customers will be able to purchase the new model towards the end of the year.

The BMW Group improved its position in practically all regions of the world during the first quarter. Sales volume increases in Europe (207,243 units; +3.1%), the Americas (96,488 units; +5.0%) and Asia (130,219 units; +9.5%) all contributed to evenly balanced growth for the BMW Group.

Sales volumes in the USA and China grew by 4.2% (79,117 units) and 7.5% (86,224 units) respectively. Strong volume growth was recorded in a number of other markets such as Great Britain with 45,757 units (+17.4%) and Russia with 9,394 units (+21.0%).

By contrast, sales figures for Italy (16,006 units; -5.1%) and France (15,343 units; -7.4%) were down on the previous year.

Motorcycles segment reports sharp increase in earnings

First-quarter Motorcycle segment revenues fell by 2.7% to € 436 million (2012: € 448 million). EBIT, however, improved by 37.8% to € 51 million (2012: € 37 million), and profit before tax by 35.1% to € 50 million (2012: € 37 million).

24,732 BMW brand motorcycles were sold worldwide during the period under report (2012: 24,373 units; +1.5%) in a challenging market environment.

In February, the new F 800 GT and a number of other special models (R 1200 R, R 1200 RT and R 1200 GS Adventure) were launched to mark BMW Motorrad’s 90-year anniversary. This was followed in March by the highly successful R 1200 GS long-distance enduro.

Good performance by Financial Services segment

Financial Services business also performed well during the first three months of the current year, with both revenues and earnings at record levels. Segment revenues edged up by 0.6% to € 4,830 million (2012: € 4,800 million). Profit before tax amounted to € 449 million (2012: € 434 million; +3.5%).

The number of new lease and credit financing contracts signed worldwide increased by 11.2% to 340,328 (2012: 305,984). The number of lease and financing contracts in place with dealers and retail customers at the end of the period rose by 7.1% to a total of 3,905,891 contracts (2012: 3,646,111).

Workforce up by 5.1%

The BMW Group’s workforce increased during the period to 31 March 2013. The number of employees went up by 5.1% to 106,470 employees (2012: 101,260 employees) worldwide. The BMW Group needs engineers and skilled workers, in order to keep pace with the continued strong demand for BMW Group vehicles, push ahead with innovations and develop new technologies.

BMW Group remains committed to its targets for the full year 2013

The BMW Group remains committed to its targets for the full year within a difficult and volatile economic environment.

“We do not expect to receive a great deal of impetus from most European markets over the next few months and economic conditions in these areas are likely to remain challenging”, said Reithofer.

For 2013, the BMW Group is still aiming to increase sales volume worldwide compared to the previous year. “We expect to achieve further sales volume growth in the current year, which will again result in a new all-time high”, continued Reithofer.

The BMW Group will continue to invest in expanding capacities in 2013 and thus enable it to remain on successful course. Development costs for new technologies and vehicle concepts will also continue to rise. 2013 alone will see the launch of eleven new models. By the end of 2014, some 25 new models will have been added to the range, ten of them totally new models.

“Due to high levels of expenditure for new technologies and models as well as investment in the production network, we expect to report Group profit before tax for 2013 on a similar scale to 2012”, Reithofer reaffirmed.

Despite the additional head winds, the Automotive segment continues to forecast an EBIT margin of between 8% and 10% for the current year. This corridor is also seen as a sustainable EBIT margin for the time beyond 2013. However, depending on political and economic developments, actual margins could end up being above or below the targeted range.

The Motorcycles segment forecasts further sales volume growth in the current year thanks to new attractive models such as the R 1200 GS, which should, in turn, bring about a further rise in segment revenues and earnings.

The Financial Services segment is also expected to put in another strong performance and remains committed to achieving a return on equity of at least 18%.

Forecasts for the current year are based on the assumption that worldwide economic and political conditions will not change significantly.

The BMW Group – an overview

1st quarter 2013 1st quarter 2012* Change in %
Deliveries to customers
Automotive 448,200 425,528 5.3
Thereof: BMW units 381,404 356,548 7.0
MINI units 66,154 68,210 -3.0
Rolls-Royce units 642 770 -16.6
Motorcycles units 24,732 24,373 1.5
Workforce1 106,470 101,260 5.1
Revenues € million 17,546 18,293 -4.1
Thereof:Automotive € million 15,907 16,159 -1.6
Motorcycles € million 436 448 -2.7
Financial Services € million 4,830 4,800 0.6
Other entities € million 1 1
Eliminations € million -3,628 -3,115 -16.5
Profit before financial result € million 2,039 2,134 -4.5
Thereof:Automotive € million 1,582 1,880 -15.9
Motorcycles € million 51 37 37.8
Financial Services € million 450 426 5.6
Other entities € million 17 13 30.8
Eliminations € million -61 -222 72.5
Profit before tax € million 2,003 2,080 -3.7
Thereof:Automotive € million 1,516 1,822 -16.8
Motorcycles € million 50 37 35.1
Financial Services € million 449 434 3.5
Other entities € million 67 -19
Eliminations € million -79 -194 59.3
Income taxes € million -691 -728 5.1
Net profit € million 1,312 1,352 -3.0
Earnings per share2 € 1.99/1.99 2.05/2.05 -2.9
* Prior year figures have been partially adjusted in accordance with the revised version of IAS 191 figures exclude dormant employment contracts, employees in the work and non-work phases of pre-retirement part-time working arrangements and low wage earners2 earnings per share of common stock/preferred stock
Statement by Dr. Friedrich Eichiner, Member of the Board of Management of BMW AG, Finance, Conference Call Interim Report to 31 March 2013

Ladies and Gentlemen,

Good morning from my side as well! The BMW Group has continued to strengthen its position as the world’s leading premium auto manufacturer. Despite a challenging sales environment in Europe and stronger competition, we made a successful start to the year. Our profitability for the first quarter of 2013 was within our target range. At the same time, we made important upfront investments to secure the future success of the company.

Now, let’s take a look at our business figures: The BMW Group expanded its leadership of the premium segment with a 5.3% increase in sales volumes.

Thanks to its attractive new models, our core BMW brand saw particularly strong growth – with gains of 7.0% on top of last year’s strong first quarter. The BMW 3 Series, 5 Series and 6 Series – as well as the X1 and the 7 Series Sedan – were all leaders in their respective segments.

Sales growth was evenly distributed worldwide. The BMW Group achieved the largest volume gains in Asia, and China, in particular. In China, our joint venture benefitted from the expansion of local production capacity. As a result, first-quarter deliveries of imported BMW vehicles were below last year’s high level. This will balance out over the course of the year.

The BMW Group also posted higher sales in North America, and especially the US – where the X models, in particular, generated stronger demand.

European sales improved year-on-year, after a weaker first quarter in 2012. European markets developed unevenly, and we expect to face further challenges on the continent over the course of the year. The ongoing euro crisis is unsettling consumers. As a result, competition in the markets has intensified. Nevertheless, in particular the BMW 1 Series and the BMW 3 Series performed very well.

Before I go into the details of our quarterly figures, I would like to point out a change in accounting.

The Group and Auto profit figures from last year were adjusted because we implemented changes in pension accounting in line with revised IAS 19. You will find more detailed information in the Notes to the Group Financial Statements under Note 3.

At Group level, revenues reached 17.55 billion €, with a pre-tax profit of

2 billion €. The pre-tax return on sales of the Group was 11.4%.

In the first three months of the year, the BMW Group forged ahead with product and technology development.

This led to an increase in the company’s headcount. By the end of the quarter, the BMW Group had 106.470 employees – roughly 600 more than at the end of 2012. Year-on-year, this resulted in higher personnel costs.

R&D expenditure totalled 988 million € in the first quarter. This represents an increase of 2% over the previous year, with an R&D ratio for the first quarter of 5.4% of revenue.

As previously announced, development costs for 2013 will be higher than last year. The expansion and renewal of our product portfolio and the development of low-emission and alternative drive technologies will be a focal point.

Our R&D ratio will probably slightly exceed our target range of 5-5.5% of revenues.

The BMW Group’s capital expenditure for the quarter totalled 1.21 billion € – twice as much as the same period last year.

Our investments in future technologies will enhance the company’s long-term competitiveness. At our Leipzig and Dingolfing sites, as well as in Landshut and Wackersdorf, the creation of our e-mobility production network proceeded according to plan. Pre-series production of the BMW i3 is now underway.

We also invested in adding and expanding capacity, and have been preparing for the production of new vehicles in our plants.

The capex ratio for the first quarter stood at 6.9% of revenue. As previously announced, we will exceed our target of below 7% over the full year.

As per March 31st, Group liquidity totalled almost 11 billion €. Our liquid asset position therefore remains solid.

Let’s move on to the Automotive Segment: The segment had revenues of more than 15.9 billion € in the first quarter – which was slightly below last year’s high level.

The segment EBIT for the first quarter totalled more than 1.58 billion €. This is 16% lower than the strong EBIT of the previous year. The EBIT margin for the segment was at the upper end of our target range, at 9.9%.

Stronger competition in Europe and a higher percentage of joint-venture models produced in China affected segment earnings.

As previously announced, our upfront investments in future projects, of around

1 billion €, will affect year-on-year earnings for the full year. The first quarter was impacted to a lesser share by this – and as a result, earnings development benefitted.

The aforementioned increase in capex dampened the development of Free Cashflow in the auto segment, which was 628 million €. As already announced, free cash flow will remain under 3 billion € for the full year, due to high investments to secure future success.

As per end of March, net financial assets in the Automotive Segment amounted to almost 14.1 billion €.

Now, I would like to talk about the Financial Services segment. This was a very successful first quarter for BMW Group Financial Services. The segment benefitted from our sales growth and concluded more than 340,000 new leasing and financing contracts with retail customers. This represents an 11.2% increase over the same period last year.

Pre-tax profit climbed to 449 million €, and the penetration rate – the percentage of new vehicles leased or financed by BMW Financial Services – reached 44.2% in the first quarter. This increase mainly stems from dynamic new business the United States, in China and in Germany.

Used-car markets have been largely stable in Germany, France, the UK and the US since the end of 2012, but remained weak in Southern Europe.

The market situation in Europe seems likely to remain this way for the rest of the year – but we have made preparations for this and are well prepared and covered for potential risks.

In the largest leasing market, the US, we expect used car prices to change little over the coming months.

Credit risks have remained mostly stable compared to last year in most markets. The situation is still difficult in the Southern European markets, and expectations remain very cautious. Here also, exposed and potential risks have been covered with corresponding provisions.

That brings me to the Motorcycles segment. The segment delivered more motorcycles in the first quarter than ever before. BMW Motorrad’s motorcycle sales rose by 1.5% to more than 24,700 vehicles. Although European markets contracted, BMW Motorrad made gains in the US, Brazil and Japan.

The Motorcycles segment had revenues of 436 million €, almost matching last year’s level. The segment EBIT reached a new high of 51 million €.

Deconsolidation of Husqvarna was completed in March. For the full year, we anticipate higher year-on-year sales for BMW Motorrad – mainly thanks to the maxiscooters now fully available and the new F 800 GT and R 1200 GS models.

Back to the Group: We are maintaining our guidance for 2013. The BMW Group is still targeting record sales this year. Stronger demand is forecast in the US, China and some emerging markets – but European markets are likely to shrink.

The BMW Group is sticking to its strategic course. Thanks to its financial strength, we are able to continue preparing for the future of our company and enhancing its competitiveness.

Innovation, future technologies and further internationalisation are the focus of our research and investment activities. In the second half of the year, we anticipate additional costs from the market launch and ramp-up of the BMW i3 and other new models.

Improving cost structures and efficiency still are of high priority. Our goal remains: profitable growth within our target margin range.

At Group level, consistent with the previous forecast, we aim to achieve a profit before tax on a similar scale to that reported in 2012.

This assumes that conditions do not worsen significantly. At this time, we are aware of the possibility of a further slowdown and declining car markets in Europe. A short-term recovery in the second half of the year seems unlikely. However, despite lasting uncertainty about the budget deficit, the US economy is expected to continue growing. Stable growth is forecast for China as well.

We are maintaining our target range of 8-10% for EBIT margin in the Automotive segment.

The target for the Financial Services segment is a return on equity of at least 18%.

At BMW Motorrad, we expect to see a positive trend in earnings.

The current volatility in the global market makes long-term forecasts challenging. The spread of the debt crisis in Europe, substantially slower growth in China, political hotspots as well as increasing regulation could affect our business more than we are able to predict today.

Due to economic challenges, the BMW Group does not expect tailwinds for its business in 2013. However, we benefit from a young and attractive vehicle portfolio and a clear strategic orientation. That is how we intend to maintain our leading position in the global premium segment.

Thank you.