Statement Dr. Norbert Reithofer Chairman of the Board of Management of BMW AG 93rd Annual General Meeting of BMW AG Munich, Olympiahalle, 14 May 2013 The future belongs to those who dare. Boldness and a pioneering spirit have always driven mankind forward. They have changed history, set events in motion and enriched our lives – ultimately creating what we call progress: the foundation for growth, employment and prosperity. For us, Ladies and Gentlemen, being bold means taking action: seizing the initiative; taking calculated risks; overcoming resistance; being the architect of our own success; and, not least, assuming responsibility. Every industry needs someone to lead the way – because on the road to success, the first step is the most important. At the BMW Group, we have a passion for mobility. We drive people, markets and ourselves forward, never content to rest on our laurels. Our creativity and our love of new ideas are our driving force. That is how the BMW Group has maintained its position on the market for the past 97 years. We strive to be a leader in all that we do, focusing exclusively on premium. Premium is beyond mainstream – premium sets the pace. It demands the right ideas, fortitude and determination. We are able to deliver this because you, our shareholders, stand by us. Your confidence gives us strength. Your confidence gives us the latitude to do what we need to do. Your confidence gives us the freedom to decide for ourselves how to shape our future and whom we work with. We will continue to lead the way along this road. You, our shareholders, take a long-term view: That is why you invest in the BMW Group. Long-term thinking and action is the key to our success – in good times, as well as in times of uncertainty. We are always mindful of costs and efficiency – so that we are in a position to control our own development. We aim to anticipate changes in our environment and draw the necessary conclusions early. We know our strengths and where we come from – which allows us to evolve without losing our identity. We are open to new ideas and chart our own course, the BMW course. That, Ladies and Gentlemen, is what sets your company apart. This is the seventh time I have stood before you. At my first Annual General Meeting as Chairman of the Board of Management in May 2007, I promised you we would make sure that your commitment paid off. Today, I will be talking about where we stand after the 2012 financial year and our ambitious plans for the future. On that note, I welcome you to the Olympiahalle – also on behalf of my Board of Management colleagues. I would also like to welcome all investors and listeners who have joined us via internet: Welcome to the 93th Annual General Meeting of BMW AG! Ladies and Gentlemen, Shareholders and shareholder representatives, BMW associates, Honoured guests, I would like to focus on three key points today: 1. What did we achieve in the financial year 2012? 2. How have five years of Strategy Number ONE paid off? 3. How are we shaping the mobility of the future and securing the long-term success of the BMW Group? With regard to the first question: All around the world, the BMW, MINI and Rolls-Royce brands are icons. And in Japan, the US or South Africa, it doesn’t matter where – the BMW brand is greeted with enthusiasm. When people across the globe hear those three letters, their eyes light up. It is the same here in Munich: Around two-and-a-half million people visit our BMW Welt delivery and experience centre every year – making BMW Welt Bavaria’s top tourist attraction. People love to have their photo taken with our BMWs – especially here, at home, in Munich. People know and sense that our premium brands represent a promise: of exceptional product substance; of innovative technologies; of future-oriented design. That is what makes our products so attractive and our brands so valuable. Ladies and Gentlemen, Being bold makes our brands—and our company desirable. In fact, your company ranks highly in Fortune Magazine’s list of the world’s 500 most admired companies. Among the top 15 worldwide, BMW is: the only car company, the only German company and the only European company. That partly explains why more customers than ever chose to buy one of our vehicles in 2012. We delivered more than 1.84 million vehicles to customers last year – an increase of more than 10 per cent over 2011. No premium manufacturer in our industry has ever built and sold that many vehicles in a single year before. C The details break down as follows: BMW: 1.54 million vehicles. MINI: over 301,000 vehicles. Rolls-Royce: 3,575 vehicles precisely. and more than 117,000 BMW and Husqvarna brand motorcycles. All of these figures represent new records. We are the top-selling premium company in our industry – and have been for many years. But such records are not a matter of course. Every sale is hard-earned. We have to deal with: high customer expectations; tough competition; and an uncertain environment. The positive trend in our sales figures is reflected in the Group’s financial result. Here are the figures for 2012: Revenues of €76.8 billion. Profit before tax of €7.8 billion. Net profit of €5.1 billion. EBIT margin for the Automotive segment of 10.9 per cent, while Financial Services contributed more than €1.5 billion to our Group profit. We also achieved new records for revenues, profit before tax and net profit – something that all of us at the BMW Group, and you, our shareholders, can be proud of. All of our associates around the world contributed to this achievement. I am sure I also speak on your behalf as our shareholders when I say to all our associates in the BMW Group: Thank you for your [...]
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