Mercedes 2012 Annual Report Download - page 253

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34. Earnings per share
The computation of basic and diluted earnings per share
for net profit attributable to shareholders of Daimler AG is
included in table  7.91.
The computations of diluted earnings per share for 2012 and
2011 do not include stock options for the acquisition of 2.3
million and 1.4 million Daimler ordinary shares, respectively,
that were issued in connection with the stock option plan,
because the options’ underlying exercise prices were higher
than the average market prices of Daimler ordinary shares
in those periods.
35. Related party relationships
Associated companies and joint ventures. Most of the goods
and services supplied within the ordinary course of business
between the Group and related parties comprise transactions
with associated companies and joint ventures and are included
in table  7.92.
A large proportion of the sales and purchases of goods and
services with associated companies results from business
relations with MBtech Group GmbH & Co. KGaA (MBtech Group),
Engine Holding GmbH (Engine Holding) and/or Tognum AG
(Tognum), which is a subsidiary of Engine Holding. Tognum
purchases engines, parts and services from the Group.
After the sale of 65% shares of MBtech Group, the company
is reported as an associated company as of December 31, 2012.
MBtech Group develops, integrates and tests components,
systems, modules and vehicles worldwide.
In June 2011, Daimler closed the sale of its equity interest
in DADC Luft- und Raumfahrt Beteiligungs AG (DADC) to EADS
for €110 million in cash. DADC is a holding company which
primarily holds the shares in Dornier GmbH. This sale resulted
in a gain of €29 million in 2011, which is included in table  7.92.
Transactions with joint ventures predominantly comprise
the business relationship with Beijing Benz Automotive Co.,
Ltd. (BBAC). BBAC assembles and distributes Mercedes-Benz
vehicles for the Group in China. To enable the Group to fully
exploit the huge growth potential of the Chinese market and
to intensify the cooperation with its local partner, Beijing
Automotive Group Co., Ltd., Daimler has invested €0.3 billion
in the joint venture BBAC and plans to additionally invest
approximately €1.4 billion.
In December 2012, the joint venture company Beijing
Mercedes-Benz Sales Services Co., Ltd. (BMBS) was established
by Daimler and its strategic partner Beijing Automotive Group
(BAIC). The new car sales company bundles as a Management-
Company all sales activities for imported and locally produced
Mercedes-Benz cars in China.
In December 2011, the joint venture company Beijing Foton
Daimler Automotive Co., Ltd. was established by Daimler and
the Chinese truck manufacturer Beiqi Foton Motor Co., Ltd.
(BFDA). Daimler has committed to making a cash contribution
to the joint venture company and to establishing the produc-
tion of a truck engine at BFDA. In 2012, capital of €344 million
was injected.
Further significant sales and purchases of goods and services
relate to a joint venture in Austria, which distributes cars
and spare parts of the Group. The Group also has substantial
business relations with the Chinese joint venture Fujian
Benz Automotive Co., Ltd. (FBAC). FBAC produces and distributes
vans under the Mercedes-Benz brand name in China.
Earnings per share
2012 2011
In millions of euros
Profit attributable to shareholders
of Daimler AG – basic
6,095
5,667
Diluting effects in net profit ––
Profit attributable to shareholders
of Daimler AG – diluted
6,095
5,667
In millions of shares
Weighted average number
of shares outstanding – basic
1,066.8
1,066.0
Dilutive effect of stock options 0.3 1.1
Weighted average number of shares
outstanding – diluted
1,067.1
1,067.1
7.91