BMW 2002 Annual Report Download - page 32

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After falls in the DAX in 2000 and 2001, the year
2002 also failed to meet investors hopes. For the
first time in its history, the DAX finished with a loss
for three years in succession. Not a single DAX-30
enterprise was able to achieve a share price gain
in 2002.
After market price increases in the first quarter,
during which the DAX reached its highest level for
the year at 5,462.55 points, the DAX fell in the course
of the year to reach a low of 2,597.88 points at the
beginning of October. This was followed by a techni-
cal rally taking the index back to around the 3,000
point level. The DAX closed on 30 December 2002
at 2,892.63 points, 43.9% below the closing level of
28 December 2001.
Automobile stocks, represented by the CDAX
Automobile Index, were unable to escape this gen-
eral trend. Due to positive company results and im-
proved prospects for the US sales market, the
CDAX
Automobile Index performed better than the DAX.
After reaching a high for the year of 448.52 points
on 27 May 2002, a downturn set in.The
automobile
sector index closed on 30 December at 262.89
points, just above the years low (recorded on the
previous day) and 30.7% below the closing level at
the end of the previous year.
In 2002, BMW common stock performed bet-
ter than both the DAX and the CDAX Automobile
Index, but nevertheless suffered losses in the course
of the year. After the announcement of strong sales
and earnings figures for the first half of 2002, the
stock showed a small gain over the 2001 closing
price. During the second half of 2002, however, the
price of the BMW common stock fell as a result of
general worries about the state of the economy.
After reaching a new all-time high of euro 47.50
on 17 May, the stock closed on 30 December at
euro 28.95, just above the years low and 26.8%
below the closing level at the end of 2001.
BMW Group again included in Dow Jones
Sustainability Indices
For the fourth time in succession, the BMW Group
was included in 2002 in the group of leading global
sustainability indices of Dow Jones, STOXX Limited
and SAM Group. In the industry ratings published at
the beginning of September 2002, the BMW Group
achieved second place in the worldwide automobile
BMW stock in 2002. BMW stock unable to escape the general downward trend
during a poor year for the stock markets. The price of BMW stock nevertheless
performed better than the DAX-30 and CDAX Automobile Index.
Development of BMW stock compared to stock exchange indices
(Index: January 1993 = 100)
550
500
450
400
350
300
250
200
150
100
50
93 94 95 96 97 98 99 00 01 02
BMW common stock
BMW preferred stock
DAX
CDAX Automobile