BMW 2003 Annual Report Download - page 126

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[DJSI World]
The abbreviation for Dow Jones Sustainability Index
World. An index for companies introduced by Dow
Jones and the Swiss SAM Sustainability Group
Investment Agency focusing on companies which
are following strategies aimed at sustainability. The
BMW Group is one of the leading car makers in the
DJSI Automotive Group ever since its establishment
in 1999.
[DSC]
Dynamic Stability Control can correct unstable situa-
tions, such as under- or over-steering, as soon as
they begin. When DSC is activated and intervenes in
the braking system or engine management, the car
can be stabilised by applying brakes on individual
wheels. Dangerous skidding can be stopped before
it starts – within physical limits.
[DVFA /SG result]
A basis for the computation of earnings used by the
“Deutschen Vereinigung für Finanzanalyse und Asset
Management/Schmalenbach Gesellschaft”, the
German Society of Investment Analysts and Asset
Managers. Under this method, the annual results of
a company are adjusted for one-off special effects
to improve comparability.
[Dynamic Drive]
Active suspension system for maximum roll stabilisa-
tion. Body roll is reduced to a minimum when taking
bends. This is ensured by two active stabilisers built
into the front and rear axles.
[EBIT]
Abbreviation for “Earnings Before Interest and Taxes”.
The profit before income taxes, minority interest and
financial result.
[EBITDA]
Abbreviation for “Earnings Before Interest,Taxes,
Depreciation and Amortisation”.The profit before
income taxes, minority interest, financial result and
depreciation/amortisation.
[Effectiveness]
The degree to which offsetting changes in fair value
or cash flows attributable to a hedged risk are
achieved by the hedging instrument.
[EMAS]
Abbreviation for “Eco-Management and Audit
Scheme”. A management tool which allows com-
panies and organisations to evaluate, report on and
improve their environmental performance.
[Equity ratio]
The proportion of equity (= subscribed capital, re-
serves and accumulated other equity) to the balance
sheet total.
[Head-Up Display]
The Head-Up Display contributes to active safety
by presenting important data directly in the driver’s
line of vision. The virtual image is projected onto
the windscreen. The information, such as navigation
instructions or current speed, appears about two
metres away above the bonnet and is easy to read.
[IASs]
International Accounting Standards.
[IFRSs]
International Financial Reporting Standards, intended
to ensure global comparability of financial reporting
and consistent presentation of financial statements.
The IFRS are issued by the International Accounting
Standards Board and include the International
Accounting Standards (IASs), which are still valid.
[Internal financing]
Internal financing is defined by the BMW Group as
profit from ordinary activities less actual tax pay-
ments and adjusted for depreciation and amortisa-
tion and significant non-cash items.
[KOVP]
The German abbreviation for Customer-Oriented
Sales and Production Process. The overriding ob-
jective of KOVP is to give each customer his per-
sonal car on his specified date. To achieve this goal
in a competitive environment constantly changing
and increasingly demanding, the BMW Group has
started to develop a new sales and production
sys
tem.