BMW 2009 Annual Report Download - page 181
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05 Preface
Ladies and Gentlemen,
The BMW Group achieved positive group earnings for the 2009
financial year, despite the global economic crisis. The company
remains the automobile industry’s leading premium manufacturer.
More than 1.28 million customers purchased a BMW, MINI or
Rolls-Royce last year, and over 87,000 customers bought a BMW
motorcycle. Sales benefited only marginally from the national
stimulus programmes initiated in many countries, such as the
scrappage bonus scheme in Germany.
Our accomplishments in 2009 were realised as an independent
company. We continue to chart our own course with courage and
determination – and with a clear view to the future.
As you read this annual report, you will learn more about how we
are preparing to face the future. The legally required section of
the report focuses on facts and figures from the 2009 financial
year. The image section illustrates how we are translating the four
pillars of our Strategy Number ONE – Future, Growth, Customers
and Profitability – into action. It also cites many examples of how
we are conserving resources and gradually realising sustainable
mobility. Ultimately, companies and products are made by people.
Here you can learn about the people behind our products: Who
are the men and women who make up the BMW Group? Above
all, you will have the opportunity to get to know our customers.
Who buys our vehicles, and why? What does their BMW, MINI or
Rolls-Royce mean to them?
2009 – Crisis management and innovative projects for the future Two fac-
tors determined our actions as a company in 2009: active crisis
management and innovative future projects. We acted quickly and
decisively in response to the economic crisis: Vehicle inventories
were reduced; fixed costs were substantially trimmed across all
divisions; and several plants temporarily implemented short-time
working. We also took steps to secure sufficient liquidity.
We were capable of operating effectively throughout and were able
to refinance at relatively favourable rates on the capital markets at
all times.