Bayerische Motoren Werke Ag · XETR:BMW
Bayerische Motoren Werke — Bayerische Motoren Werke Aktiengesellschaft — Q2 2021 Earnings Presentation
61 slides from Bayerische Motoren Werke's earnings presentation, Aug 3, 2021
Slide 1: Half-Year Report 30 June 2021
HALF-YEAR REPORT 30 June 2021
Slide 2: Contents
BMW Group Contents 2 Half-year Report 2021 CONTENTS 11 INTERIM GROUP MANAGEMENT REPORT 12 Report on Economic Position 12 General Economic Environment in the first half of 2021 12 Group Overview 16 Automotive Segment 22 Financial Services Segment 23 Other Entities Segment and Eliminations 24 Report o
Slide 3: Contents: Interim Group Financial Statements
BMW Group Contents 3 Half-year Report 2021 28 INTERIM GROUP FINANCIAL STATEMENTS 29 Income Statement for Group and Segments for the period from 1 January to 30 June 30 Condensed Statement of Comprehensive Income for Group for the period from 1 January to 30 June 31 Income Statement for Group and Seg
Slide 4: BMW Group at a Glance
BMW Group BMW Group at a Glance 4 Half-year Report 2021 BMW GROUP AT A GLANCE 5 BMW Group in Figures
Slide 5: BMW Group in Figures: Key Performance Indicators Q2
BMW Group BMW Group at a Glance 5 Half-year Report 2021 BMW Group in Figures BMW GROUP IN FIGURES KEY PERFORMANCE INDICATORS REPORTED DURING THE YEAR ¹ 2nd quarter 2021 2nd quarter 2020 Change in % GROUP Profit / loss before tax € million 5,979 – 300 – AUTOMOTIVE SEGMENT Deliveries 2, 3 units 702,44
Slide 6: Further Performance Figures Q2: Deliveries and Production
BMW Group BMW Group at a Glance 6 Half-year Report 2021 BMW Group in Figures FURTHER PERFORMANCE FIGURES ¹ 2nd quarter 2021 2nd quarter 2020 Change in % AUTOMOTIVE SEGMENT Deliveries 2 BMW 3 units 617,667 430,344 43.5 MINI units 83,165 54,413 52.8 Rolls-Royce units 1,609 707 127.6 Total 3 units 702,
Slide 7: Further Performance Figures Q2: Revenues and Earnings
BMW Group BMW Group at a Glance 7 Half-year Report 2021 BMW Group in Figures FURTHER PERFORMANCE FIGURES ¹ 2nd quarter 2021 2nd quarter 2020 Change in % Free cash flow Automotive segment € million 2,380 – 295 – Group revenues € million 28,582 19,973 43.1 Automotive € million 24,983 14,878 67.9 Motor
Slide 8: Key Performance Indicators January to June
BMW Group BMW Group at a Glance 8 Half-year Report 2021 BMW Group in Figures KEY PERFORMANCE INDICATORS REPORTED DURING THE YEAR 1 January to 1 January to 30 June 2021 30 June 2020 Change in % GROUP Profit / loss before tax € million 9,736 498 – AUTOMOTIVE SEGMENT Deliveries 1, 2 units 1,339,047 962
Slide 9: Further Performance Figures H1: Deliveries and Production
BMW Group BMW Group at a Glance 9 Half-year Report 2021 BMW Group in Figures FURTHER PERFORMANCE FIGURES 1 January to 1 January to 30 June 2021 30 June 2020 Change in % AUTOMOTIVE SEGMENT Deliveries 1 BMW 2 units 1,178,210 842,153 39.9 MINI units 157,848 118,862 32.8 Rolls-Royce units 2,989 1,560 91
Slide 10: Further Performance Figures H1: Revenues and Earnings
BMW Group BMW Group at a Glance 10 Half-year Report 2021 BMW Group in Figures FURTHER PERFORMANCE FIGURES 1 January to 1 January to 30 June 2021 30 June 2020 Change in % Free cash flow Automotive segment € million 4,902 – 2,513 – Group revenues € million 55,360 43,225 28.1 Automotive € million 47,74
Slide 11: Interim Group Management Report
BMW Group Interim Group Management Report 11 Half-year Report 2021 INTERIM GROUP MANAGEMENT REPORT 12 Report on Economic Position 12 General Economic Environment in the first half of 2021 12 Group Overview 16 Automotive Segment 22 Financial Services Segment 23 Other Entities Segment and Eliminations
Slide 12: Report on Economic Position: Group Overview
BMW Group Interim Group Management Report 12 Half-year Report 2021 Report on Economic Position REPORT ON GENERAL ECONOMIC ENVIRONMENT IN THE FIRST HALF OF 2021 GROUP OVERVIEW ECONOMIC POSITION BMW GROUP SETS NEW SALES RECORD INTERNATIONAL AUTOMOBILE MARKETS FOR A FIRST SIX-MONTH PERIOD Compared to t
Slide 13: Electrified Vehicle Demand and EU Antitrust Investigation
BMW Group Interim Group Management Report 13 Half-year Report 2021 Report on Economic Position Sustained high demand for the BMW Group’s electri- ANTITRUST INVESTIGATION AGAINST CARMAKERS: Objections on 20 May 2021, the BMW Group re-evaluated fied vehicles also provided strong momentum for growth. E
Slide 14: Significant Improvement in Group Earnings as Recovery Continues
BMW Group Interim Group Management Report 14 Half-year Report 2021 Report on Economic Position SIGNIFICANT IMPROVEMENT IN GROUP EARNINGS AS Group cost of sales increased to € 44,109 million Research and development expenditure totalling RECOVERY CONTIINUES (2020: € 38,400 million; + 14.9 %) in the f
Slide 15: Other Financial Result and R&D Indicators
BMW Group Interim Group Management Report 15 Half-year Report 2021 Report on Economic Position Other financial result improved significantly, turning BMW GROUP PERFORMANCE INDICATORS RELATING TO around from a negative amount of € 482 million to positive RESEARCH AND DEVELOPMENT EXPENSES € 767 millio
Slide 16: Automotive Segment: Strong First Half-Year
BMW Group Interim Group Management Report 16 Half-year Report 2021 Report on Economic Position AUTOMOTIVE SEGMENT STRONG FIRST HALF-YEAR FOR AUTOMOTIVE SEGMENT The Automotive segment continued to perform well AUTOMOTIVE SEGMENT – OVERVIEW during the reporting period, achieving its best figures to da
Slide 17: Sales Volume Growth in All Major Regions
BMW Group Interim Group Management Report 17 Half-year Report 2021 Report on Economic Position In the second quarter 2021, the BMW Group deliv- particularly strong for the BMW Group’s all-electric SALES VOLUME GROWTH IN ALL MAJOR REGIONS ered a total of 702,441 ¹ units to customers worldwide models,
Slide 18: Deliveries in the Americas and Asia
BMW Group Interim Group Management Report 18 Half-year Report 2021 Report on Economic Position Figures in the Americas also picked up well during In Asia, the BMW Group sold a total of 292,654 ² the period under report, reaching 128,792 units in BMW, MINI and Rolls-Royce brand vehicles in the the se
Slide 19: BMW Brand Deliveries by Model Series
BMW Group Interim Group Management Report 19 Half-year Report 2021 Report on Economic Position BMW BRAND – DELIVERIES BY MODEL SERIES sales figures rose in all major regions of the world. Elec- trified MINI models were particularly popular among customers. Together, the all-electric MINI SE ⁴ and th
Slide 20: Automotive Segment Earnings Up Significantly
BMW Group Interim Group Management Report 20 Half-year Report 2021 Report on Economic Position AUTOMOTIVE SEGMENT EARNINGS UP SIGNIFICANTLY The higher net positive amount of other operating in- come and expenses was largely attributable to the partial reversal of the provision for EU antitrust proce
Slide 21: Automotive Segment Free Cash Flow
BMW Group Interim Group Management Report 21 Half-year Report 2021 Report on Economic Position AUTOMOTIVE SEGMENT – FREE CASH FLOW FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE in € million 2021 2020 Change Cash inflow (+) / outflow (–) from operating activities 7,251 – 600 7,851 Cash inflow (+) / outflo
Slide 22: Financial Services Segment on Course for Success
BMW Group Interim Group Management Report 22 Half-year Report 2021 Report on Economic Position FINANCIAL SERVICES SEGMENT FINANCIAL SERVICES SEGMENT ON COURSE FOR SUCCESS The BMW Group’s strong performance in the first FINANCIAL SERVICES SEGMENT AT A GLANCE half of 2021 is also reflected in results
Slide 23: Growth in New Business with Retail Customers
BMW Group Interim Group Management Report 23 Half-year Report 2021 Report on Economic Position SIGNIFICANT GROWTH IN NEW BUSINESS At 30 June 2021, a total of 5,638,482 credit financing OTHER ENTITIES SEGMENT AND ELIMINATIONS WITH RETAIL CUSTOMERS and leasing contracts were in place with retail custo
Slide 24: Report on Outlook, Risks and Opportunities
BMW Group Interim Group Management Report 24 Half-year Report 2021 Report on Outlook, Risks and Opportunities REPORT ON OUT- INTERNATIONAL AUTOMOBILE MARKETS 2021 OUTLOOK FOR THE BMW GROUP ASSUMPTIONS USED IN THE OUTLOOK LOOK, RISKS AND Following the slump in the global economy last year, the Intern
Slide 25: Outlook: Semiconductor Markets and Segment Expectations
BMW Group Interim Group Management Report 25 Half-year Report 2021 Report on Outlook, Risks and Opportunities Recent observations indicate that the situation on The Automotive segment is expected to record a solid (as reported for the first time in the integrated BMW Group the international semicond
Slide 26: BMW Group Key Performance Indicators 2021 Outlook
BMW Group Interim Group Management Report 26 Half-year Report 2021 Report on Outlook, Risks and Opportunities BMW GROUP – KEY PERFORMANCE INDICATORS Based on current knowledge and assessments, the key performance indicators of the BMW Group for the full year 2021 are as follows: 2020 2020 2021 2021
Slide 27: Risks and Opportunities
BMW Group Interim Group Management Report 27 Half-year Report 2021 Report on Outlook, Risks and Opportunities RISKS AND OPPORTUNITIES submissions, the EU Commission significantly narrowed the scope of its charges, the proceeding was settled on 8 July 2021, and a fine in an amount of approximately €
Slide 28: Interim Group Financial Statements
BMW Group Interim Group Financial Statements 28 Half-year Report 2021 INTERIM GROUP FINANCIAL STATEMENTS 29 Income Statement for Group and Segments for the period from 1 January to 30 June 30 Condensed Statement of Comprehensive Income for Group for the period from 1 January to 30 June 31 Income Sta
Slide 29: Income Statement, 1 January to 30 June
BMW Group Interim Group Financial Statements 29 Half-year Report 2021 Income Statement for Group and Segments for the period from 1 January to 30 June INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Group Automotive ¹ Motorcycles ¹ Financial Services ¹ Other Entities
Slide 30: Condensed Statement of Comprehensive Income, January to June
BMW Group Interim Group Financial Statements 30 Half-year Report 2021 Condensed Statement of Comprehensive Income for Group for the period from 1 January to 30 June CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR GROUP FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE in € million 2021 2020 Net profit / loss
Slide 31: Income Statement, 1 April to 30 June
BMW Group Interim Group Financial Statements 31 Half-year Report 2021 Income Statement for Group and Segments for the period from 1 April to 30 June INCOME STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 APRIL TO 30 JUNE ¹ Group Automotive Motorcycles Financial Services Other Entities Elimina
Slide 32: Condensed Statement of Comprehensive Income, April to June
BMW Group Interim Group Financial Statements 32 Half-year Report 2021 Condensed Statement of Comprehensive Income for Group for the period from 1 April to 30 June CONDENSED STATEMENT OF COMPREHENSIVE INCOME FOR GROUP FOR THE PERIOD FROM 1 APRIL TO 30 JUNE * in € million 2021 2020 Net profit / loss 4
Slide 33: Balance Sheet for Group and Segments at 30 June 2021
BMW Group Interim Group Financial Statements 33 Half-year Report 2021 Balance Sheet for Group and Segments at 30 June 2021 BALANCE SHEET FOR GROUP AND SEGMENTS AT 30 JUNE 2021 Group Automotive * Motorcycles * Financial Services * Other Entities * Eliminations * in € million Note 30. 6. 2021 31. 12.
Slide 34: Balance Sheet: Equity and Liabilities
BMW Group Interim Group Financial Statements 34 Half-year Report 2021 Balance Sheet for Group and Segments at 30 June 2021 Group Automotive * Motorcycles * Financial Services * Other Entities * Eliminations * in € million Note 30. 6. 2021 31. 12. 2020 30. 6. 2021 31. 12. 2020 30. 6. 2021 31. 12. 202
Slide 35: Condensed Cash Flow Statement
BMW Group Interim Group Financial Statements 35 Half-year Report 2021 Condensed Cash Flow Statement for Group and Segments for the period from 1 January to 30 June CONDENSED CASH FLOW STATEMENT FOR GROUP AND SEGMENTS FOR THE PERIOD FROM 1 JANUARY TO 30 JUNE Group Automotive * Financial Services * in
Slide 36: Statement of Changes in Equity
BMW Group Interim Group Financial Statements 36 Half-year Report 2021 Statement of Changes in Equity STATEMENT OF CHANGES IN EQUITY Accumulated other equity Equity Derivative attributable to Subscribed Capital Revenue Translation Marketable financial Costs shareholders Minority in € million Note cap
Slide 37: Notes to the Group Financial Statements
BMW Group Interim Group Financial Statements 37 Half-year Report 2021 Notes to the Group Financial Statements NOTES TO THE IFRS Interpretations Committee which are mandatory at 30 June 2021 have been applied. The Interim Report The income statement for the BMW Group and seg- ments is presented using
Slide 38: Group Reporting Entity
BMW Group Interim Group Financial Statements 38 Half-year Report 2021 Notes to the Group Financial Statements 02 GROUP REPORTING ENTITY YOUR NOW Holding GmbH, a joint venture of the BMW Group and Daimler Mobility AG, entered into an agreement with the bp Group on 29 March 2021 for The BMW Group Fina
Slide 39: Financial Reporting Rules
BMW Group Interim Group Financial Statements 39 Half-year Report 2021 Notes to the Group Financial Statements 03 FINANCIAL REPORTING RULES a Standards or amendments of standards that are sig- nificant for the BMW Group and were applied for the first time in the first half-year of the current financi
Slide 40: Notes to the Income Statement: Revenues
BMW Group Interim Group Financial Statements 40 Half-year Report 2021 Notes to the Group Financial Statements NOTES TO THE INCOME Revenues recognised from contracts with customers in accordance with IFRS 15 totalled € 47,827 million STATEMENT (2020: € 35,489 million). An analysis of revenues by segm
Slide 41: Other Operating Income and Expenses
BMW Group Interim Group Financial Statements 41 Half-year Report 2021 Notes to the Group Financial Statements 05 OTHER OPERATING INCOME AND EXPENSES 06 OTHER FINANCIAL RESULT These line items principally include exchange gains Other financial result developed as follows: and losses, gains and losses
Slide 42: Notes to the Balance Sheet
BMW Group Interim Group Financial Statements 42 Half-year Report 2021 Notes to the Group Financial Statements NOTES TO THE Intangible assets developed during the first six months of the year as follows: 09 PROPERTY, PLANT AND EQUIPMENT (INCLUDING RIGHT-OF-USE ASSETS FROM LEASES) BALANCE SHEET in € m
Slide 43: Income Tax Assets and Equity Notes
BMW Group Interim Group Financial Statements 43 Half-year Report 2021 Notes to the Group Financial Statements 11 INCOME TAX ASSETS new shares of non-voting preferred stock, carrying the on the pension provision in the first half of the year same rights as existing non-voting preferred stock, in amou
Slide 44: Income Tax Liabilities, Financial Liabilities, Other Liabilities
BMW Group Interim Group Financial Statements 44 Half-year Report 2021 Notes to the Group Financial Statements 14 INCOME TAX LIABILITIES 15 FINANCIAL LIABILITIES 16 OTHER LIABILITIES Current income taxes amounting to € 1,369 million Financial liabilities of the BMW Group comprise the Other liabilitie
Slide 45: Other Disclosures
BMW Group Interim Group Financial Statements 45 Half-year Report 2021 Notes to the Group Financial Statements OTHER DISCLOSURES In relation to these allegations, numerous class action lawsuits have been brought in the USA and Canada as well as several private lawsuits in South Korea. The class actio
Slide 46: Legal Proceedings and Financial Instruments at Amortised Cost
BMW Group Interim Group Financial Statements 46 Half-year Report 2021 Notes to the Group Financial Statements On January 22, 2020, the U. S. Securities and Exchange Disclosures relating to financial instruments measured at Commission (SEC) had opened an investigation into po- amortised cost tential
Slide 47: Financial Instruments Measured at Fair Value
BMW Group Interim Group Financial Statements 47 Half-year Report 2021 Notes to the Group Financial Statements Disclosures relating to financial instruments measured at Financial instruments classified to Level 3 and meas- fair value ured at fair value comprise the following: The carrying amounts of
Slide 48: Valuation of Level 3 Financial Instruments
BMW Group Interim Group Financial Statements 48 Half-year Report 2021 Notes to the Group Financial Statements As part of the process of analysing valuations, the Furthermore, equity instruments that are not part of and assessment of their impact on sensitivity is similar external fund manager review
Slide 49: Development of Level 3 Financial Instruments
BMW Group Interim Group Financial Statements 49 Half-year Report 2021 Notes to the Group Financial Statements The balance sheet carrying amount of Level 3 finan- cial instruments developed as follows: Derivative Options on instruments – Financial Unquoted equity Convertible unquoted equity raw mater
Slide 50: Related Party Relationships
BMW Group Interim Group Financial Statements 50 Half-year Report 2021 Notes to the Group Financial Statements 20 RELATED PARTY RELATIONSHIPS Stefan Quandt, Germany, is a shareholder and Depu- Susanne Klatten, Germany, is also the sole share- ty Chairman of the Supervisory Board of BMW AG. He is hold
Slide 51: Related Party Transactions
BMW Group Interim Group Financial Statements 51 Half-year Report 2021 Notes to the Group Financial Statements Seen from the perspective of BMW Group enti- ties, the volume of significant transactions with the above-mentioned entities was as follows: Supplies and services performed Supplies and servi
Slide 52: Transactions with Joint Ventures and Associated Companies
BMW Group Interim Group Financial Statements 52 Half-year Report 2021 Notes to the Group Financial Statements In total, the following amounts of goods and services A significant proportion of the BMW Group’s trans- For the most part, this involves the sale of vehicle were supplied to or received fro
Slide 53: Segment Information
BMW Group Interim Group Financial Statements 53 Half-year Report 2021 Notes to the Group Financial Statements SEGMENT INFORMATION the Group Financial Statements within the BMW Group Report 2020. are also excluded. Intragroup leasing arrangements are not reflected in the internal management and repor
Slide 54: Segment Information by Operating Segment, Second Quarter
BMW Group Interim Group Financial Statements 54 Half-year Report 2021 Notes to the Group Financial Statements Segment information by operating segment for the second quarter* is as follows: Automotive Motorcycles Financial Services Other Entities Reconciliation to Group figures Group in € million 20
Slide 55: Reconciliation of Segment Figures to Group Figures
BMW Group Interim Group Financial Statements 55 Half-year Report 2021 Notes to the Group Financial Statements The total of the segment figures can be reconciled to the corresponding Group figures as follows: 1 January to 1 January to in € million 2nd quarter 2021 * 2nd quarter 2020 30 June 2021 30 J
Slide 56: Reconciliation of Segment Assets; Board of Management
BMW Group Interim Group Financial Statements 56 Half-year Report 2021 Notes to the Group Financial Statements The total of the segment figures can be reconciled to Munich, 27 July 2021 the corresponding Group figures as follows: Bayerische Motoren Werke in € million 30. 6. 2021 31. 12. 2020 Aktienge
Slide 57: Responsibility Statement by the Company's Legal Representatives
BMW Group Interim Group Financial Statements 57 Half-year Report 2021 Responsibility Statement by the Company’s Legal Representatives RESPONSIBILITY Munich, 27 July 2021 Bayerische Motoren Werke STATEMENT BY THE Aktiengesellschaft COMPANY’S LEGAL THE BOARD OF MANAGEMENT REPRESENTATIVES OLIVER ZIPSE
Slide 58: Review Report
BMW Group Interim Group Financial Statements 58 Half-year Report 2021 Review Report REVIEW REPORT TO BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT, MÜNCHEN with moderate assurance, that the condensed consolidated interim financial statements have not been prepared, in all material respects, in accorda
Slide 59: Other Information
BMW Group Other Information 59 Half-year Report 2021 OTHER INFORMATION 60 Fuel Consumption and CO2 Emissions Information 60 General Information 61 Contacts
Slide 60: Fuel Consumption and CO2 Emissions Information
BMW Group Other Information 60 Half-year Report 2021 Fuel Consumption and CO₂ Emissions Information FUEL CONSUMPTION AND CO 2 EMISSIONS INFORMATION Figures according to WLTP Figures according to NEFZ Electricity power Electricity power Fuel consumption CO₂ emissions consumption Fuel consumption CO₂
Slide 61: Contacts
BMW Group Other Information 61 Half-year Report 2021 Contacts CONTACTS BUSINESS AND FINANCE PRESS THE BMW GROUP ON THE INTERNET PUBLISHED BY Telephone + 49 89 382-2 45 44 Further information about the BMW Group is Bayerische Motoren Werke + 49 89 382-2 41 18 available online at: Aktiengesellschaft 8
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