BMW 2012 Annual Report Download - page 16

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interim targets for 2012, including much greater efficiency and higher profitability. For the Automotive seg-
ment, we defined an EBIT margin target of between 8 % and 10 %.
What have we achieved during the first five years of Number ONE?
– We have become more profitable, and doubled our profit before tax between 2007 and 2012. At the end of
2012, our EBIT margin in the Automotive segment was above our 8 % and 10 % target range.
– The price of BMW common stock climbed more than 70 % from the end of 2007 to the end of 2012, while
Germany’s DAX fell by 5.6 % over the same period.
– We have leveraged much more than the € 6 billion in efficiency potential originally targeted.
– In 2007, Efficient Dynamics was already the best technology on the market for lowering fuel consumption
and CO2 emissions. Back then, we had 27 BMW and MINI models with 140 grams of CO2 per kilometre or
less. By the end of 2012, the BMW Group fleet included 73 models at or below this level.
Our core model series – the BMW 3 Series, the BMW 5 Series and the BMW 7 Series – are also available as
full hybrids. Efficient Dynamics continues: we aim to reduce the CO2 emissions of our vehicle fleet by at
least another 25 % between 2008 and 2020.
– We have systematically expanded our global production network since 2007 – from 23 production facilities
in twelve countries to 29 locations in 14 countries by the end of 2012. The most recent example is our new
Tiexi plant in Shenyang, which we have been operating with our joint venture partner, Brilliance, since
2012. When we plan a site, we ensure that it sets new standards: Tiexi is the most sustainable vehicle plant
in China today and one of the most advanced in the world.
Over the past five years, our strategy has proven robust, and shown the way forward under changing
external conditions: during the global financial and economic crisis of 2008 and 2009, the BMW Group still
showed a profit and paid a dividend. In 2010 and 2011, we steered our Company back on track for success –
initially helped by an economic tailwind, but then maintaining our performance in a challenging and volatile
environment in 2012.
This clearly shows that we have reached the first major milestone in our strategy. We have fulfilled all the
interim targets of our Strategy Number ONE for the year 2012 – and, in some cases, exceeded them. We de-
livered on our promises. Today, the BMW Group is a stronger, more international and more future-oriented
company than it was when we embarked on our Strategy Number ONE. Above all else, the BMW Group is
an attractive investment – and I would like to thank you, our shareholders, for supporting us on this journey.
It is in all our interests that the BMW Group not only has a successful present, but, even more impor-
tantly, a promising future. For that reason, we are now working towards the next major milestone in our
strategy.
Number ONE still our corporate compass – next milestone in 2016. In 2016, we will celebrate 100 years
of
BMW. By then, we aim to sell well over two million BMW, MINI and Rolls-Royce brand vehicles – with
BMW Motorrad and Financial Services also continuing to contribute to our success. Profitability is, and will
remain, the foundation upon which we build and shape our future.