BMW 2010 Annual Report Download - page 44

42
12 GROUP MANAGEMENT REPORT
12 A Review of the Financial Year
14 General Economic Environment
18 Review of Operations
41 BMW Group – Capital Market
Activities
44 Disclosures relevant for takeovers
and explanatory comments
47 Financial Analysis
47 Internal Management System
49 Earnings Performance
51 Financial Position
53 Net Assets Position
55 Subsequent Events Report
55 Value Added Statement
57 Key Performance Figures
58 Comments on BMW AG
62 Internal Control System and
explanatory comments
63 Risk Management
70 Outlook
BMW stock
2010 2009 2008 2007 2006
Common stock
Number of shares in 1,000 601,995 601,995 601,995 601,995 601,995
Stock exchange price in euro1
Year-end closing price 58.85 31.80 21.61 42.35 43.51
High 64.80 35.94 42.73 50.73 46.47
Low 28.65 17.61 17.04 39.81 35.52
Preferred stock
Number of shares in 1,000 53,163 52,665 52,196 52,196 52,196
Shares bought back at the reporting date – – 363 – –
Stock exchange price in euro1
Year-end closing price 38.50 23.00 13.86 36.30 43.52
High 41.90 24.79 36.51 47.52 45.91
Low 21.45 11.05 13.00 33.64 31.80
Key data per share in euro
Dividend
Common stock 1.302 0.30 0.30 1.06 0.70
Preferred stock 1.322 0.32 0.32 1.08 0.72
Earnings per share of common stock3 4.91 0.31 0.49 4.78 4.38
Earnings per share of preferred stock4 4.93 0.33 0.51 4.80 4.40
Cash flow5 12.45 7.53 6.84 9.70 8.21
Equity 35.26 30.42 30.99 33.24 29.24
1 Xetra closing prices
2 proposed by management
3 annual average weighted amount
4 stock weighted according to dividend entitlements
5 calculated on the basis of operating cash flow: up to 2006 as cash inflow from operating activities of Industrial Operations and from 2007 as cash inflow from operating activities of
the Automobiles segment
in previous years, all issues were highly sought after by
both institutional and private investors.
Rating outlook raised
In September 2010, the rating outlook for BMW AG was
raised by the rating agencies Moody’s and S & P, in each
case from “negative” to “stable”. The improved outlook
comes as a result of higher demand for premium cars
worldwide, a development which particularly benefits
the BMW Group.
Reporting on sustainability
In 2010 we continued to communicate our sustainability
strategy and the way it is being implemented throughout
the BMW Group in the form of an intensive dialogue with
investors and analysts. In addition to the now well-estab-
lished annual stakeholders’ round table held in Munich,
this two-way dialogue was also continued in greater
depth at conferences on Socially Responsible Investment
and in numerous discussions held with investors.
BMW Group sector leader in Dow Jones Sustainability
Index for sixth time
In September 2010 the rating agency SAM named the
BMW Group as sector leader in the Dow Jones Sustain-
ability Index World and Europe for the sixth time. The
SAM analysts stressed that the BMW Group stands out
with its clear sustainability strategy and for the way it
implements that strategy rigorously along the whole
added-value chain. They also drew particular attention
tothe BMW Group’s great achievements in reducing
vehicle fleet fuel consumption and CO2 emissions. The
BMW Group is the only enterprise in the automobile
sector to have been represented continuously in this im-
portant group of sustainability indices since their crea-
tion in 1999.