BMW 2011 Annual Report Download - page 182

182
178 OTHER INFORMATION
178 BMW Group Ten-year Comparison
180 BMW Group Locations
182 Glossary
184 Index
185 Index of Graphs
190 Financial Calendar
191 Contacts
Glossary
ACEA
Abbreviation for “Association des Constructeurs
Euro péens d’Automobiles” (European Automobile
Manufacturers 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
already 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
principally from market price, market price fluctuations
and expected 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 com-
panies 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
inside 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 Automotive segment less the cash
outflow for investing activities of the Automotive
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.