BMW 2013 Annual Report Download - page 86

86
18 COMBINED MANAGEMENT REPORT
18 General Information on the BMW Group
18 Business Model
20 Management System
23 Research and Development
24 Report on Economic Position
24 Overall Assessment by Management
24 General and Sector-specific
Environment
27
Financial and Non-financial
Performance Indicators
29 Review of Operations
47 Results of Operations, Financial
Position and Net Assets
62 Events after the End of the
Reporting Period
63 Report on Outlook, Risks and
Opportunities
63 Outlook
68 Risks Report
77 Report on Opportunities
81 Internal Control System and Risk
Management System Relevant for the
Consolidated Financial Reporting Process
82 Disclosures Relevant for Takeovers
and Explanatory Comments
85
BMW Stock and Capital Markets
BMW stock
2013 2012 2011 2010 2009
Common stock
Number of shares in 1,000 601,995 601,995 601,995 601,995 601,995
Stock exchange price in €1
Year-end closing price 85.22 72.93 51.76 58.85 31.80
High 85.42 73.76 73.52 64.80 35.94
Low 63.93 53.16 45.04 28.65 17.61
Preferred stock
Number of shares in 1,000 54,260 53,994 53,571 53,163 52,665
Stock exchange price in €1
Year-end closing price 62.09 48.76 36.55 38.50 23.00
High 64.65 49.23 45.98 41.90 24.79
Low 48.69 35.70 32.01 21.45 11.05
Key data per share in €
Dividend
Common stock 2.60 2 2.50 2.30 1.30 0.30
Preferred stock 2.62 2 2.52 2.32 1.32 0.32
Earnings per share of common stock3, 6 8.10 7.75 7.45 4.91 0.31
Earnings per share of preferred stock4, 6 8.12 7.77 7.47 4.93 0.33
Cash flow5 14.41 13.98 12.38 12.45 7.53
Equity 54.31 46.666 41.34 36.53 30.42
1 Xetra closing prices.
2 Proposed by management.
3 Annual average weighted amount.
4 Stock weighted according to dividend entitlements.
5 Cash inflow from operating activities of the Automotive segment.
6 Prior year figures have been adjusted in accordance with the revised version of IAS 19, see note 7.
returned to profitable ground, finishing the year at
€ 85.22, a gain of 16.9 % compared to the end of the pre-
vious year. A new all-time high of € 85.69 was recorded
on the final trading day of the stock market year.
BMW preferred stock gained 27.4 % in value year-on-
year.
Its price at the end of the stock market year was
€ 62.09. A new all-time high of € 65.00 was recorded on
27 November.
Employee share scheme
BMW AG has enabled its employees to participate in its
success for more than 30 years. Since 1989 this partici-
pation has taken the form of an employee share scheme.
In total, 266,152 shares of preferred stock were issued to
employees in 2013 as part of this scheme.
In this context, and with the approval of the Supervisory
Board, BMW AG’s share capital was increased by the
Board of Management by €265,570 from €655,989,413 to
€656,254,983 by the issue of 265,570 new non-voting
shares of preferred stock. This increase was executed on
the basis of Authorised Capital 2009 in Article 4 (5) of
the Articles of Incorporation. The new shares of pre-
ferred stock carry the same rights as existing shares of
preferred stock and were issued to enable employees to
obtain an equity participation in the Company. In addi-
tion, 582 shares of preferred stock were bought back via
the stock market in order to service the employee share
scheme.
Dividend proposal envisages increase
In view of the strong earnings performance for the year,
the Board of Management and the Supervisory Board
will propose to the Annual General Meeting to use
BMW AG’s unappropriated profit of € 1,707 million to
pay a dividend of € 2.60 for each share of common stock
(2012: € 2.50) and a dividend of € 2.62 for each share of
preferred stock (2012: € 2.52). These figures correspond
to a distribution rate of 32.0 % for 2013, unchanged from
the previous year.