BMW 2012 Annual Report Download - page 13

reported on significant audit findings and answered any additional questions raised by the members of the
Supervisory Board. The representatives of the external auditors confirmed that the risk management system
established by the Board of Management is capable of identifying events or developments that might impair
the going-concern status of the Company and that no material weaknesses in the internal control system and
risk management system were found with regard to the financial reporting process. Similarly, the external
auditors confirmed that they had not identified any facts in the course of their work that were inconsistent
with the contents of the Declaration of Compliance issued jointly by the two boards. Based on own thorough
examination by the Audit Committee and the full Supervisory Board, we concurred with the results of the
external audit.
In accordance with the conclusion reached as a result of the examination by the Audit Committee and
Supervisory Board, no objections were raised.
The Group and Company Financial Statements of Bayerische Motoren Werke Aktiengesellschaft for the
financial year 2012 prepared by the Board of Management were approved at the Supervisory Board Meeting
held on 14 March 2013. The separate financial statements have thus been adopted.
Both in the Audit Committee and in the full Supervisory Board, we examined the proposal of the Board
of Management to use the unappropriated profit to pay a dividend of € 2.50 per share of common stock and
€ 2.52 per share of non-voting preferred stock. Taking account of the financial condition of the BMW Group,
we consider the proposal appropriate and concur with it.
Expression of thanks by the Supervisory Board We would like to express our gratitude to the members
of the Board of Management and all employees worldwide for their commitment and contribution to
another
set of excellent financial statements for the year ended 31 December 2012.
We also wish to extend a special word of thanks to Mr. Oberländer and Mr. Ruf, both of whom left the
Supervisory Board in 2012 after many years of dedicated and constructive work in the Supervisory Board.
In addition to achieving success in their chosen fields of activity, they spent most of their working lives
diligently serving both the Company and the employees they represented.
Munich, 14 March 2013
On behalf of the Supervisory Board
Joachim Milberg
Chairman of the Supervisory Board
13 REPORT OF THE SUPERVISORY BOARD