BMW 2007 Annual Report Download - page 83

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The Group financial statements, drawn up in
accordance with § 315a HGB, and the Group manage-
ment
report for the financial year 2007 will be sub-
mitted to the operator of the electronic version of the
German Federal Gazette and can be obtained via the
Company Register website. Printed copies will also
be made available on request. In addition the Group
financial statements and the Group management
report can be downloaded from the BMW Group
website at www.bmwgroup.com/ir.
The Board of Management authorised the
consolidated financial statements for issue on
19 February 2008.
[2]Consolidated companies
The BMW Group financial statements include, be-
sides BMW AG, all material subsidiaries, 17 special
purpose securities funds and 24 special purpose
trusts (almost all used for asset backed financing
transactions) both in Germany and abroad.
65 subsidiaries (2006: 68), either dormant or gen-
erating a negligible volume of business, are not
included. Their influence on the Group’s earnings,
financial and net assets position is immaterial. Non-
inclusion of operating subsidiaries reduces total
Group revenues by 1.2 % (2006: 1.5 %).
One joint venture is consolidated using the
equity method. The investment in TRITEC Motors
Ltda., Campo Largo, was sold during the financial
year 2007. 16 equity investments are not consoli-
dated using the equity method since they are not
material to the Group’s earnings, financial and net
assets position. They are included in the line Other
investments, measured at cost less, where appli-
cable, accumulated impairment losses.
A separate List of Group Investments pursu-
ant to § 313 (4) HGB will be submitted to the opera-
tor of the electronic version of the German Federal
Gazette. This list, along with the List of Third Party
Companies which are not of Minor Importance for
the Group, will also be posted on the BMW Group
website at the address www.bmwgroup.com/ir.
The subsidiaries BMW Fuhrparkmanagement
Beteiligungs GmbH, Stuttgart, LHS Leasing- und
Handelsgesellschaft Deutschland mbH, Stuttgart,
BMW Financial Services Danmark A/S, Kolding,
The number of subsidiaries, special purpose
securities funds and other special purpose trusts
included in the Group financial statements changed
in 2007 as follows:
BMW Renting (Portugal) Lda., Lisbon, BMW Vertriebs
GmbH, Salzburg, BMW Acquisitions Ltda., São Paulo,
BMW Financeira S. A. Credito, Financiamento e In-
vestimento, São Paulo, BMW Leasing do Brasil, S. A.,
São Paulo, BMW Asia Pte. Ltd., Singapore, BMW
Melbourne Pty. Ltd., Melbourne, BMW Sydney Pty.
Ltd., Sydney, and BMW Financial Services New
Zealand Ltd., Auckland, were all consolidated for the
first time in 2007.
BMW Renting Iberica S. L., Madrid (following its
merger with Alphabet Fleet Services España S. L.,
Madrid) and British Motor Holdings Ltd., Bracknell,
ceased to be consolidated companies during the
financial year.
The Group reporting entity also changed by
comparison to the previous year as a result of the
first-time consolidation of seven special purpose
trusts and two special purpose securities funds and
the deconsolidation of two special purpose trusts
and two special purpose securities funds.
In addition, the names of four entities were
changed during the financial year 2007. softlab
GmbH für Systementwicklung und EDV-Anwendung,
Munich, was renamed Cirquent GmbH, Munich;
softlab Gesellschaft für Systementwicklung und
EDV-Anwendung Ges.m.b.H., Vienna, was renamed
Germany Foreign Total
Included at 31.12.2006 45 144 189
Included for the first time in 2007 4 17 21
No longer included in 2007 – 6 6
Included at 31.12. 2007 49 155 204