BMW 2006 Annual Report Download - page 135
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134 Other Information
126 Other Information
126 BMW AGPrincipal Subsidiaries
128 BMW Group10-year Comparison
130 BMW Group Locations
132 Glossary
136 Index
138 Contacts
139 Financial Calendar
[Rating]
Standardised evaluation of a company’s credit
standing which is widely accepted on the global
capital markets. Ratings are published by inde-
pendent rating agencies e.g. Standard& Poor’s or
Moody’s based on their analysis of a company.
[Return on Assets BMW Group]
Profit before interest expense (expense from revers-
ing the discounting of pension obligations and of
other non-current provisions, other interest and simi-
lar
expenses) and tax as a percentage of the balance
sheet total.
[Return on Assets Financial Services]
Profit before tax as a percentage of operating assets.
[Return on Capital Employed]
Profit before financial result as a percentage of
capital employed. Capital employed is defined as
operating assets less non-interest bearing liabilities.
For this purposes, non-interest bearing liabilities
exclude non-interest bearing provisions and liabili-
ties.
[Return on sales]
The ratio of the profit from ordinary activities to
Group revenues. For segment reporting purposes,
the computation is based on the profit before finan-
cial result.
[Risk management]
An integral component of all business processes.
Following enactment of the Law on Control and
Transparency within Businesses (KonTraG), all
companies listed on a stock exchange in Germany
are required to set up a risk management system.
The purpose of this system is to identify risks at an
early stage which could have a significant adverse
effect on the assets, liabilities, financial position and
results of operations and which could endanger the
continued existence of the company. This applies
in particular to transactions involving risk, errors in
accounting or financial reporting and violations of
legal requirements. The Board of Management is
required to set up an appropriate system, to docu-
ment that system and monitor it regularly with the
aid of the internal audit department.
[Sports Activity Vehicle]
The BMW X5 is the first-ever Sports Activity Vehicle –
a combination of a typical BMW sedan featuring
sporting and comfortable driving features on the
one hand, with far-reaching driving abilities in terrain
on the other.This creates a new market segment.
In 2004, the BMW Group added another SAV, the
BMW X3, to its model range.
[Subscribed capital]
The share capital of a company is computed by
multiplying the nominal value of the shares by the
number of shares.