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BMW GROUP (WORLDWIDE): 2007 SALES REVENUE RISES TO RECORD LEVEL
Wed Jan 30 15:30:00 CET 2008 Press Release
Sales revenue up by 14.3% to euro 56,018 million+++Sales volume set to reach new high level again in 2008+++
Sales revenue up by 14.3% to euro 56,018 million+++
Sales volume set to reach new high level again in 2008+++
Munich. The BMW Group has achieved a new sales revenue record in 2007. Compared
to the previous year, group revenues rose by 14.3% to euro 56,018 million
(2006: euro 48,999 million). Revenues of the Automobiles segment went up by
12.7% to euro 53,818 million (2006: euro 47,767 million). The Motorcycles
segment reported sales of euro 1,228 million (2006: euro 1,265 million /-2.9%),
while the Financial Services segment increased its revenues by 25.8% to euro
13,940 million (2006: euro 11,079 million).
The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to
customers in 2007 also rose to its highest level to date, with the sales volume
rising by 9.2% to 1,500,678 units (2006: 1,373,970 units). This upper
single-digit growth rate means that the BMW Group was well within the sales
volume target that it had set itself for the full year.
BMW Group aiming for sales volume records for all three brands in 2008
The BMW Group is again aiming to achieve sales volume growth for all three
brands in the current year and therefore to retain its position as the world's
leading premium manufacturer: "We expect a new record sales volume figure in
2008, with stronger growth in the first half of the year and more moderate
growth in the second", stated Norbert Reithofer, Chairman of BMW AG's Board of
Management in Munich on Wednesday. The BMW Group is also working intensively to
improve group profitability. "These targets - sales growth and profitability -
are both of paramount importance for the future of the BMW Group", Reithofer
went on to emphasise.
Reithofer confirms earnings forecast for the financial year 2007
The group is keeping to its earnings target for the financial year 2007. "We
are confident that, adjusted for the exceptional gain on the settlement of the
exchangeable bond on shares in the British engine manufacturer Rolls-Royce, we
will be posting a higher pre-tax profit for the financial year 2007 than for
the previous year", continued Reithofer. As usual, the BMW Group will publish
its earnings figures for the full year in March.
Capital expenditure slightly lower than in the previous year
Capital expenditure in 2007 decreased by 1.1% to euro 4,267 million (2006: euro
4,313 million). Capitalised development costs recognised as assets in
accordance with IAS decreased by 13.2% to euro 1,333 million (2006: euro 1,536
million), reflecting the lower volume of series development projects. Capital
expenditure for property, plant and equipment and other intangible assets
increased by 5.7% to euro 2,934 million (2006: euro 2,777 million), partly in
connection with the expansion of the production network.
Workforce slightly larger than one year earlier
The workforce increased slightly during the year, mainly as a result of the
acquisition of Husqvarna Motorcycles and two acquisitions made by the Financial
Services segment. At the end of 2007, the worldwide workforce comprised 107,539
employees (31 December 2006: 106,575 employees), an increase of 0.9%. The
number of trainees at the year-end (4,281) remained at a high level (31
December 2006: 4,359).
Sales impetus from EfficientDynamics measures
The BMW Group sold more cars in 2007 than ever before in its history. An
important factor for this was the contribution made by the EfficientDynamics
package which is helping to reduce fuel consumption and CO2 emissions.
Customers are also benefiting from this innovative technology in many MINI
models. By the end of the year, more than 450,000 BMW and MINI cars driving on
Europe's roads were benefiting from EfficientDynamics.
1,276,793 BMW brand cars were sold in 2007, surpassing the previous year's
level (1,185,088 units) by 7.7%. The MINI also recorded good growth, with the
retail sales volume rising by 18.5% to 222,875 units (2006: 188,077 units).
Rolls-Royce increased its sales volume figures for the fourth year in
succession and remains the undisputable market leader in the ultra-luxury
segment. Rolls-Royce Motor Cars handed over 1,010 vehicles (2006: 805 vehicles)
to customers in 2007 (+ 25.5%), therefore achieving a four-figure annual sales
volume figure for the first time.
The BMW 3 Series, with its Limousine, Touring, Coupé and Cabrio versions, was
once again, by far, the main BMW model series, and also remained well ahead in
comparison with relevant competitors. It accounted for 37% of the entire car
sales volume recorded by the BMW Group, with the number of cars sold rising by
9.2% to 555,219 units (2006: 508,479 units). The BMW 5 Series, the second
best-selling model in volume terms, almost matched the previous year's high
level with 230,845 units sold (2006: 232,193 units/-0.6%). The BMW 1 Series
took third place with a retail sales volume of 165,803 units (2006: 151,918
units). This 9.1% increase was driven in particular by the introduction of the
three-door version in May 2007.
BMW's Sports Activity Vehicles (SAV) continued to sell extremely well in 2007,
with the number of BMW X5 in particular jumping by 60.1% to 120,617 units
(2006: 75,321 units). Sales of this model, which continues to outpace all
relevant competitors in its segment, were therefore well ahead of the BMW
Group's own expectations. Now in its fourth year since market launch, sales of
the BMW X3, at 111,879 units (2006: 114,000 units/-1.9%) remained at a high
level.
A total of 44,421 (2006: 50,227/-11.6%) BMW 7 Series cars were sold. The BMW Z4
(Roadster and Coupé versions) recorded a sales volume of 28,383 units (2006:
30,996/-8.4%). In total, 19,626 units of the luxury BMW 6 Series Convertible
and Coupé models (2006: 21,947 units/-10.6%) were handed over to customers.
USA remains largest single market for BMW and MINI cars
The USA remained the largest single market for BMW and MINI cars in 2007. With
a sales volume of 335,840 units (2006: 313,603 units /+7.1%), the BMW Group
sold more vehicles there than ever before. On top of this, BMW was the most
popular European premium brand among US customers in 2007. In total, 293,795
BMW brand cars (2006: 274,432 units, +7.1%) were sold in the United States,
making it the most successful European car brand on the US market in 2007.
Germany is the second largest market in volume terms, with 284,523 new
registrations of BMW Group vehicles (2006: 296,930 new registrations). As a
result of the higher value added tax rate and the uncertainty caused by the
on-going CO2 debate, it was not quite possible to match the previous year's
high level. With a 4.2% decrease, the BMW Group nevertheless performed
significantly better than the German market as a whole (-9.2%). Double-digit
growth was achieved in each of the following markets representing places three
to six for the BMW Group: 173,685 units (2006: 153,957/+12.8%) were sold in
Great Britain, 106,985 units (2006: 96,458 units/+10.9%) in Italy, 72,849 units
(2006: 63,040 units/+15.6%) in Spain and 65,081 units (2006: 52,875
units/+23.1%) in France.
Good retail sales volume performances were also recorded on the fast growing
markets of China with 51,588 units (2006: 36,357 units/+41.9%), Russia with
14,686 units (2006: 9,505 units /+54.5%) and India with 1,387 units (2006: 257
units/+439.7%).
New sales volume record for BMW Motorcycles in 2007
BMW Motorcycles also succeeded in recording a new sales volume high in 2007.
After surpassing the 100,000 mark for the first time in the previous year, the
Motorcycles segment continued to grow and recorded a sales volume of 102,467
units (2006: 100,064/+2.4%) in 2007.
Financial services business remains on growth course
The BMW Group's financial services business continued to grow in 2007. The
volume of new retail customer contracts rose by 16.4% to euro 28,462 million,
thereby reaching a new record level (2006: euro 24,449 million). The proportion
of new BMW and MINI cars financed by the Financial Services segment increased
in 2007 to 44.7% (2006: 42.4%).
* * *
The BMW Group - an Overview
2007 2006 Change
in %
Deliveries to customers
Automobiles units 1,500,678 1,373,970 +9.2
Motorcycles units 102,467 100,064 +2.4
Workforce at year-end 107,539 106,575 +0.9
Sales revenue euro million 56,018 48,999 +14.3
thereof:
Automobiles euro million 53,818 47,767 +12.7
Motorcycles euro million 1,228 1,265 -2.9
Financial Services euro million 13,940 11,079 +25.8
Reconciliations euro million -12,968 -11,112 -
Capital expenditure euro million 4,267 4,313 -1.1
For questions please contact:
Corporate Communications
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Telephone: (+ 49 89) 382-24118, Fax: (+ 49 89) 382-24418
Marc Hassinger, Business and Finance Communications
Telephone: (+49 89) 382-23362, Fax: (+49 89) 382-24418
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