BMW 2007 Annual Report Download - page 13

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11
again the continued expansion of the BMW Group’s
production and sales networks. 2007 saw the open-
ing of the BMW Welt in Munich, the new event and
delivery centre for the BMW brand. Other further
major areas of capital expenditure were the continued
expansion of the Spartanburg plant in the USA and
investment in the Dingolfing site.
In 2007, the BMW Group invested a total of euro
2,934 million in property, plant and equipment and
intangible assets, 5.7 % more than in the previous
year. This includes goodwill of euro 97 million arising
on the acquisition of DEKRA SüdLeasing Services
GmbH (renamed to: BMW Fuhrparkmanagement
Beteiligungs GmbH) and that entity’s subsidiaries.
for each share of common stock (2006: euro 0.70/
+ 51.4 %) and an increased dividend of euro 1.08
for each share of preferred stock (2006: euro 0.72/
+ 50.0 %).
The significant increase in dividend proposed
for the financial year 2007 demonstrates the BMW
Group’s commitment to a greater focus on the capi-
tal markets.
Capital expenditure remains at previous
year’s level
The capital expenditure volume, at euro 4,267 mil-
lion, was roughly in line with the previous year’s level.
The main focus of capital expenditure in 2007 was
Rest of Europe
North America
Germany
Asia/Oceania
United Kingdom
Other markets
BMW Group Revenues by region
in euro million
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
8,728
11,252
10,590
5,130
4,661
1,164
03 04
10,574
10,205
11,961
4,915
5,249
1,431
05
12,141
10,957
11,001
5,538
5,125
1,894
13,226
11,779
10,601
6,200
5,214
1,979
06 07
16,450
12,161
11,918
7,353
5,945
2,191
Rest of Europe
North America
Germany
Asia/Oceania
United Kingdom
Other markets
BMW Group Capital expenditure and operating cash flow
in euro million
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
Capital expenditure
Operating cash flow *
06
4,313
5,373
07
4,267
6,340
*adjusted for new accounting treatment of pension obligations
In its financial statements for 2005, the BMW Group brought the cash flow computation into line with standards normally applied on the financial markets. Since then, the
BMW Group discloses the figures for the cash flow from operating activities (operating cash flow), corresponding to the cash flow from Industrial Operations reported in the
cash flow statement.
05
3,993
6,184
03
4,245
4,970
04
4,347
6,157