BMW 2011 Annual Report Download - page 61
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61 COMBINED GROUP AND COMPANY MANAGEMENT REPORT
Key performance figures
2011 2010*
Gross margin % 21.1 18.1
EBITDA margin % 16.9 14.5
EBIT margin % 11.7 8.5
Pre-tax return on sales % 10.7 8.0
Post-tax return on sales % 7.1 5.4
Pre-tax return on equity % 30.9 23.4
Post-tax return on equity % 20.5 15.6
Equity ratio – Group % 22.0 21.7
Automotive % 41.1 40.9
Financial Services % 8.7 7.1
Coverage of intangible assets, property, plant and equipment by equity % 160.2 145.4
Return on capital employed
Group % 25.6 19.1
Automotive % 77.3 40.2
Motorcycles % 10.2 18.0
Return on equity
Financial Services % 29.4 26.1
Cash inflow from operating activities € million 5,713 4,319
Cash outflow from investing activities € million – 5,499 – 5,190
Coverage of cash outflow from investing activities by cash inflow from operating activities % 103.9 83.2
Free cash flow of Automotive segment € million 2,133 4,471
Net financial assets Automotive segment € million 12,287 11,286
* Adjusted for effect of change in accounting policy for leased products as described in note 8