Sonntag, 22. Oktober 2017

BMW Group raises sales and earnings outlook for 2011

Munich, (lifePR) - .
- Performance in current year better than expected

- Automotive segment EBIT margin expected to exceed 10%

- Sales volume of over 1.6 million vehicles targeted

- Financial Services segment on target for sharp rise in earnings

Thanks to strong demand on the international auto markets during the second quarter and for the full year, the BMW Group now expects that business performance and earnings will be significantly better than previously forecast. It is therefore raising its sales volume and earnings forecast for the current financial year.

It is now forecast that unit sales in 2011 will increase above 10% compared to the previous year to over 1.6 million BMW, MINI and Rolls-Royce brand cars. The forecast for the year had previously been for a sales volume of over 1.5 million units. The number of vehicles handed over to customers worldwide during the first half of 2011 increased by 19.7% to 833,366 units. The BMW Group continues to aim to achieve a reasonable balance in sales volume between Europe, Asia and the Americas.

In view of the strong performance to date and the good outlook for the coming months, the Automotive segment is now expected to achieve an EBIT margin of over 10% for the full year, compared to the previous forecast of over 8%. The BMW Group continues to target a return on capital employed (RoCE) in excess of 26%.

Sales volume and earnings growth in the automotive segment is likely to be dampened during the second half of the year by changes affecting some of the BMW Group's high-volume models as well as by the market launch and production start-up of successor models.

As a result of attractive market conditions and a less acute risk situation, the Financial Services segment continues to aim to achieve a significant improvement in pre-tax profit and a return on equity of over 18% in 2011. The sharp improvement in the risk profile for residual values and credit risks will be reflected in second-quarter earnings with a positive low three-digit million euro amount.

Based on the considerably improved outlook, the BMW Group now expects to achieve an even greater improvement in pre-tax earnings than originally predicted.

All of these targets are based on the assumption that economic and political conditions remain stable and that the global economy continues to grow.

The BMW Group continues to target an EBIT margin of between 8% and 10% and a return on capital employed (RoCE) in excess of 26% for its automotive segment in 2012. The Financial Services segment is striving to achieve a return on equity of at least 18%.

The Quarterly Report to 30 June 2011 will be published on 2 August 2011.
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With its three brands - BMW, MINI and Rolls-Royce - the BMW Group is one of the world's most successful premium manufacturers of cars and motorcycles. It operates internationally with 25 production and assembly sites in 14 countries and a global sales network with representation in more than 140 countries.

During the financial year 2010, the BMW Group sold 1.46 million cars and more than 110,000 motorcycles worldwide. The profit before tax for 2010 was euro 4.8 billion on revenues amounting to euro 60.5 billion. At 31 December 2010, the BMW Group had a workforce of approximately 95,500 employees.

Long-term thinking and responsible action have long been the foundation of the BMW Group's success. Striving for ecological and social sustainability along the entire value-added chain, taking full responsibility for our products and giving an unequivocal commitment to preserving resources are prime objectives firmly embedded in our corporate strategies. For these reasons, the BMW Group has been sector leader in the Dow Jones Sustainability Indices for the last six years.

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