BMW 2011 Annual Report Download - page 44

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18 COMBINED GROUP AND COMPANY
MANAGEMENT REPORT
18 A Review of the Financial Year
20 General Economic Environment
24 Review of Operations
43 BMW Stock and Capital Market
46 Disclosures relevant for takeovers
and explanatory comments
49 Financial Analysis
49 Internal Management System
51 Earnings Performance
53 Financial Position
56 Net Assets Position
59 Subsequent Events Report
59 Value Added Statement
61 Key Performance Figures
62 Comments on BMW AG
66 Internal Control System and
explanatory comments
67 Risk Management
73 Outlook
BMW stock
2011 2010 2009 2008 2007
Common stock
Number of shares in 1,000 601,995 601,995 601,995 601,995 601,995
Stock exchange price in €1
Year-end closing price 51.76 58.85 31.80 21.61 42.35
High 73.52 64.80 35.94 42.73 50.73
Low 45.04 28.65 17.61 17.04 39.81
Preferred stock
Number of shares in 1,000 53,571 53,163 52,665 52,196 52,196
Shares bought back at the reporting date – – – 363 –
Stock exchange price in €1
Year-end closing price 36.55 38.50 23.00 13.86 36.30
High 45.98 41.90 24.79 36.51 47.52
Low 32.01 21.45 11.05 13.00 33.64
Key data per share in €
Dividend
Common stock 2.302 1.30 0.30 0.30 1.06
Preferred stock 2.322 1.32 0.32 0.32 1.08
Earnings per share of common stock3 7.45 4.935 0.31 0.49 4.78
Earnings per share of preferred stock4 7.47 4.955 0.33 0.51 4.80
Cash flow 10.80 12.45 7.53 6.84 9.70
Equity 41.34 36.535 30.42 30.99 33.24
1 Xetra closing prices
2 Proposed by management
3 Annual average weighted amount
4 Stock weighted according to dividend entitlements
5 Adjusted for effect of change in accounting policy for leased products as described in note 8
BMW Group. Strong creditworthiness underlined by
good ratings, a strong set of financial indicators and
investor confidence all contributed to ensuring that the
BMW Group continued to have excellent access to the
world’s capital markets.
BMW Group is sector leader in the Dow Jones
Sustainability Index World for the seventh year
In September 2011 the rating agency SAM named the
BMW Group as sector leader in the Dow Jones Sustain-
ability Index World and Europe for the seventh time in
succession. In addition to extolling the BMW Group’s
clear sustainability strategy and the way it implements
that strategy along the entire value-added chain, SAM’s
analysts this year also highlighted the importance of
personnel-related policies which focus attention on em-
ployees as the key to success. They cited, among other
things, the BMW Group’s convincing remuneration sys-
tems and the extensive range of training opportunities
offered to employees. The BMW Group is the only
enterprise in the car manufacturing sector to have been
represented continuously in this important group of
sustainability indices since their inception in 1999.
In November 2011 the BMW Group won the DuMont
DWS Prize for Responsible Business Practices presented
by the DuMont Group and DWS Investments. We took
first place out of 104 companies selected from the main
German indices. The BMW Group also qualified again
for inclusion in the renowned FTSE4Good Index in 2011.
In conjunction with the annual evaluation of the Car-
bon Disclosure Project (CDP) – a co-operative initiative
of 551 globally active institutional investors – the
BMW Group performed better than ever thanks to its
transparent reporting and exemplary contribution to
environmental protection. With a score of 96 out of a
possible 100 points, the BMW Group is listed in the
Carbon Disclosure Leadership Index (CDLI). It is also in-
cluded in the Carbon Performance Leadership Index