BMW 2010 Annual Report Download - page 172

170
166 OTHER INFORMATION
166 BMW Group Ten-year Comparison
168 BMW Group Locations
170 Glossary
172 Index
174 Index of Graphs
175 Financial Calendar
176 Contacts
Glossary
ACEA
Abbreviation for “Association des Constructeurs Euro-
péens
d’Automobiles” (European Automobile Manufac-
turers
Association).
CFRP
Abbreviation for carbon-fibre reinforced polymer. CFRP
isa composite material, consisting of carbon-fibres sur-
rounded by a plastic matrix (resin). On a comparative
basis, CFRP is approximately 50% lighter than steel and
30% lighter than aluminium.
Common stock
Stock with voting rights (cf. preferred stock).
Connected Drive
Under the term Connected Drive, the BMW Group al-
ready unites a unique portfolio of innovative features
that enhance comfort, raise infotainment to new levels
and significantly boost safety in BMW Group vehicles.
Cost of materials
Comprises all expenditure to purchase raw materials and
supplies.
DAX
Abbreviation for “Deutscher Aktienindex”, the German
Stock Index. The index is based on the weighted market
prices of the 30 largest German stock corporations (by stock
market capitalisation).
Deferred taxes
Accounting for deferred taxes is a method of allocating tax
expense to the appropriate accounting period.
Derivatives
Financial products, whose measurement is derived princi-
pally from market price, market price fluctuations and ex-
pected market price changes of the underlying instrument
(e.g. indices, stocks or bonds).
DJSI World
Abbreviation for “Dow Jones Sustainability Index World”.
Afamily of indexes created by Dow Jones and the Swiss
investment agency SAM Sustainability Group for compa-
nies with strategies based on a sustainability concept. The
BMW Group has been one of the leading companies in the
DJSI since 1999.
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, Depre-
ciation 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.
Efficient Dynamics
The aim of Efficient Dynamics is to reduce consumption
and emissions whilst simultaneously increasing dynamics
and performance. This involves a holistic approach to
achieving optimum automobile potential, ranging from
efficient engine technologies and lightweight construc-
tion to comprehensive energy and heat management in-
side the vehicle.
Equity ratio
The proportion of equity (= subscribed capital, reserves,
accumulated other equity and minority interest) to the
balance sheet total.
Free cash flow
Free cash flow corresponds to the cash inflow from oper-
ating activities of the Automobiles segment less the cash
outflow for investing activities of the Automobiles
seg-
ment adjusted for net investment in marketable securities.
Gross margin
Gross profit as a percentage of revenues.
IFRSs
International Financial Reporting Standards, intended to
ensure global comparability of financial reporting and
consistent presentation of financial statements. The IFRSs
are issued by the International Accounting Standards
Board and include the International Accounting Standards
(IASs), which are still valid.
ISO 14001
An internationally recognised standard for environmental
management systems.