Bayerische Motoren Werke AG · XETR:BMW
Bayerische Motoren Werke — BMW Group — Analyst and Investor Conference 2014
24 slides from Bayerische Motoren Werke's conference presentation, Mar 20, 2014
Slide 1: Analyst and Investor Conference
March 20, 2014 ANALYST AND INVESTOR CONFERENCE DR. FRIEDRICH EICHINER MEMBER OF THE BOARD OF MANAGEMENT OF BMW AG, FINANCE
Slide 2: BMW Group Successful in 2013 – Futureproofing Enhanced
BMW GROUP SUCCESSFUL IN 2013 FUTUREPROOFING ENHANCED
Slide 3: Group Margin at 10.4%
GROUP MARGIN AT 10.4% EBT Margin BMW Group (in %) 12% 10.7 10.4 10% 10.2 8.0 8% 6% 4% 2% 0.8 0% 2009 2010 2011 2012 2013
Slide 4: BMW Group – 2013 Financial Year: Guidance Fulfilled
BMW GROUP – 2013 FINANCIAL YEAR: GUIDANCE FULFILLED In million € 2013 2012* Change in % Automotive sales (units) 1,963,798 1,845,186 + 6.4 Group revenues 76,058 76,848 - 1.0 Group profit before tax (EBT) 7,913 7,803 + 1.4 Return on sales (EBT) (in %) 10.4 10.2 - Group net profit 5,340 5,111 + 4.5 *
Slide 5: 4th Quarter 2013: EBIT Margin for Automotive Segment Higher Than Expected
4TH QUARTER 2013: EBIT MARGIN FOR AUTOMOTIVE SEGMENT HIGHER THAN EXPECTED In million € 2013 2012* Change in % Automotive sales (units) 527,620 509,684 + 3.5 Group revenues 20,210 20,536 - 1.6 Group profit before tax (EBT) 1,889 1,760 + 7.3 Return on sales (EBT) (in %) 9.3 8.6 - Group net profit 1,30
Slide 6: Capex Ratio Above Target as Planned
CAPEX RATIO ABOVE TARGET AS PLANNED BASIS FOR FURTHER GROWTH PROVIDED Capex ratio for the BMW Group 10.0% 9.0% 8.8% 8.8% 7.9% 8.0% 7.6% 7.0% Target: < 7.0% 6.8% 6.8% 6.0% 5.0% 5.4% 5.4% 4.0% 2006 2007 2008 2009 2010 2011 2012 2013
Slide 7: Expansion of Global Production Network
EXPANSION OF GLOBAL PRODUCTION NETWORK
Slide 8: R&D Expenditure at €4.8 bn
R&D EXPENDITURE AT €4.8 BN R&D ratio (HGB) BMW Group 7.0% 6.5% 6.3% 6.5% 6.0% 5.6% 5.4% 5.5% Target range: 5 – 5.5% 5.0% 5.1% 4.8% 4.9% 4.5% 4.6% 4.0% 2006 2007 2008 2009 2010 2011 2012 2013
Slide 9: Proposed Dividend to Increase Payout Ratio of 32%
PROPOSED DIVIDEND TO INCREASE PAYOUT RATIO OF 32% Dividend per common stock in € Total dividend payout in million € 3.00 1800 1,707 2.60 1,640 2.50 2.50 1500 2.00 1200 1.50 900 1.00 600 0.50 300 0.00 0 2012 2013 2012 2013
Slide 10: Automotive Segment – 2013: EBIT Margin Well Within Target Range
AUTOMOTIVE SEGMENT – 2013 FINANCIAL YEAR: EBIT MARGIN WELL WITHIN TARGET RANGE In million € 2013 2012* Change in % Sales (units) 1,963,798 1,845,186 + 6.4 Revenues 70,629 70,208 + 0.6 Profit before interest and tax (EBIT) 6,657 7,599 - 12.4 EBIT margin (in %) 9.4 10.8 - Profit before tax (EBT) 6,561
Slide 11: Automotive Segment: Reconciliation of EBIT 2013 From Previous Year
AUTOMOTIVE SEGMENT: RECONCILIATION OF EBIT 2013 FROM PREVIOUS YEAR In million € - 214 + 133 - 167 7,599 - 218 - 476 6,657 Net expense Other operating Volume/ Depreciation Other changes EBIT from exchange income and Mix/ Market EBIT 2012* rates/ expenditure 2013 commodities EBIT margin EBIT margin 10
Slide 12: Free Cash Flow in Automotive Segment Lower Than Previous Year
FREE CASH FLOW IN AUTOMOTIVE SEGMENT LOWER THAN IN PREVIOUS YEAR OWING TO INVESTMENTS In million € 5,000 3,809 4,000 3,000 2,499 2,000 1,000 0 2012* 2013 * Previous year adjusted
Slide 13: Stable Liquidity as per End of 2013
STABLE LIQUIDITY AS PER END OF 2013 FINANCIAL FLEXIBILITY ASSURED In billion € 12 11.025 10.724 10 2.655 3.060 8 Securities 6 Cash & cash 4 8.370 equivalents 7.664 2 0 2012 2013
Slide 14: Financial Services Segment: 2013 Key Financials
FINANCIAL SERVICES SEGMENT: 2013 KEY FINANCIALS In million € 2013 2012 Change in % New customer contracts (units) 1,471,385 1,341,296 + 9.7 On-balance sheet business volume 84,347 80,974 + 4.2 Profit before tax (EBT) 1,639 1,561 + 5.0 Return on equity (in %) 20.2 21.2 - Penetration rate (in %) 44.0
Slide 15: BMW Group with Best Rating Among European Automotive Manufacturers
BMW GROUP WITH BEST RATING AMONG EUROPEAN AUTOMOTIVE MANUFACTURERS Standard & Poor's Moody's Short-term Rating A-1 P-1 Long-term Rating A+ A2 Outlook Stable Stable
Slide 16: Positive Business Development at Alphabet; Expansion of BMW Bank Completed
POSITIVE BUSINESS DEVELOPMENT AT ALPHABET EXPANSION OF BMW BANK COMPLETED IN 2013
Slide 17: Worldwide Credit Loss Rate Lower and at Pre-Crisis Level
WORLDWIDE CREDIT LOSS RATE LOWER AND AT PRE-CRISIS LEVEL In % 1.0 0.84 0.8 0.67 0.59 0.6 0.46 0.49 0.48 0.46 0.41 0.41 0.4 0.37 0.2 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Slide 18: Further Growth Planned for Financial Services
FURTHER GROWTH PLANNED FOR FINANCIAL SERVICES
Slide 19: BMW Motorrad – 2013 Business Figures: Major Increase in Profit
BMW MOTORRAD – 2013 BUSINESS FIGURES: MAJOR INCREASE IN PROFIT In million € 2013 2012 Change in % Sales (units) 115,215 106,358 + 8.3 Sales revenues 1,504 1,490 + 0.9 Profit before interest and tax (EBIT) 79 9 - EBIT-Margin (in %) 5.3 0.6 - Profit before tax (EBT) 76 6 -
Slide 20: Entry into Urban E-Mobility; Product Initiative to Continue in 2014
ENTRY INTO URBAN E-MOBILITY PRODUCT INITIATIVE TO CONTINUE IN 2014
Slide 21: Segment Eliminations: Improvement Due to Intra-Group Eliminations
SEGMENT ELIMINATIONS: IMPROVEMENT DUE TO INTRA-GROUP ELIMINATIONS In million € 2013 2012 Change in % Revenues - 15,955 - 14,405 - 10.8 Profit before tax (EBT) - 527 - 937 + 43.8
Slide 22: Outlook for 2014 – Success to Continue if Business Conditions Remain Stable
OUTLOOK FOR 2014 – SUCCESS TO CONTINUE IF BUSINESS CONDITIONS REMAIN STABLE BMW Group Significantly higher pre-tax profit than in previous year. Automotive segment Significant rise in vehicle deliveries and in revenues compared with previous year. Currency factors could have a negative impact on rev
Slide 23: Attractive Portfolio and Financial Strength Form the Basis for Further Growth
ATTRACTIVE PORTFOLIO AND FINANCIAL STRENGTH FORM THE BASIS FOR FURTHER GROWTH
Slide 24: Analyst and Investor Conference
March 20, 2014 ANALYST AND INVESTOR CONFERENCE