BMW 2009 Annual Report Download - page 133

131 Group Financial Statements
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arise in the normal course of business and are conducted
on the basis of arm’s length principles. Group companies
sold goods and services to BMW Brilliance Automotive Ltd.,
Shenyang, during 2009 for an amount of euro 532 million
(2008: euro 406 million). At 31 December 2009, receivables
of Group companies from BMW Brilliance Automotive
Ltd., Shenyang, amounted to euro 170 million (2008: euro
102 million). As in the previous year, there were no payables
from Group companies to BMW Brilliance Automotive Ltd.,
Shenyang, at the end of the reporting period.
BMW INTEC Beteiligungs GmbH, Munich, and SGL Te c h -
nologies GmbH, Wiesbaden, founded SGL Automotive
Carbon Fibers Verwaltungs GmbH, Munich, on 3 Decem-
ber 2009 and SGL Automotive Carbon Fibers GmbH &
Co. KG, Munich, on 10 December 2009 as joint ventures.
There were no business transactions between BMW Group
entities and the joint ventures in 2009.
Business transactions between BMW Group entities and
participations all arise in the normal course of business
and are conducted on the basis of arm’s length principles.
With the exception of Cirquent GmbH, Munich, business
relationships with such entities are on a small scale. The
BMW Group companies purchased services and goods
from Cirquent GmbH, Munich, amounting to euro 52 mil-
lion in 2009. At 31 December 2009, liabilities of Group
companies to Cirquent GmbH, Munich, totalled euro 10 mil-
lion
(2008: euro 28 million). Receivables of Group com-
panies from Cirquent GmbH, Munich, amounted to euro 1
million (as at the end of the previous year).
Stefan Quandt is a shareholder and Deputy Chairman of
the Supervisory Board of BMW AG. He is also sole share-
holder
and Chairman of the Supervisory Board of DELTON
AG, B ad Homburg v. d. H., which, via its subsidiaries, per-
formed logistics services for the BMW Group
during the
financial year 2009. In addition, companies of the DELTON
Group acquired vehicles from the BMW Group, mostly
in the form of leasing contracts. These
service and sales
contracts, which are not material for
the BMW Group, all
arise in the normal course of business and are conducted,
without exception on the basis of arm’s length principles.
Susanne Klatten is a shareholder and member of the
Supervisory Board of BMW AG and also a shareholder and
Deputy Chairman of the Supervisory Board of Altana AG,
Wesel, which purchased vehicles from the BMW Group
during the financial year 2009. Susanne Klatten also holds
shares (and is member of the Supervisory Board) in SGL
Carbon SE, Wiesbaden, whose subsidiaries
supplied com-
ponents to the BMW Group during the financial year 2009.
In addition she holds shares in Nordex AG, Norderstedt.
The
corresponding sales contracts are not material for the
BMW Group, arise in the course of ordinary
activities and
are made, without exception, on the basis of
arm’s length
principles.
Apart from these transactions, companies of the BMW
Group
did not enter into any contracts with members of
the Board of Management or Supervisory Board of BMW
AG. The same applies to close members of the families of
those persons.
Declaration with respect to the Corporate
Governance Code
The Board of Management and the Supervisory Board of
Bayerische Motoren Werke Aktiengesellschaft have issued
the Declaration of Compliance pursuant to § 161 of the Ger-
man Stock Corporation Act. The Declaration of Compliance
is
reproduced on page 141 and is also available to shareholders
on the
BMW Group website at www.bmwgroup.com/ir.
Shareholdings of members of the Board of
Management and Supervisory Board
The members of the Supervisory Board of BMW AG hold
in total 27.68 % of the issued common and preferred stock
shares, of which 16.11 % relates to Stefan Quandt, Bad
Homburg v. d. H. and 11.57 % to Susanne Klatten, Munich.
The shareholding of the members of the Board of Manage-
ment of BMW AG is, in total, less than 1 % of the issued
stock shares.