mika
Still Wondering
TodayÔÇÖs Birthdays / Calendar
autobloggreen.com
Lane splitting in California ÔÇô for or against?
Faster and Faster
Two-strokes: The Bimota V Due
cmgonline.com
Emailbag ÔÇô U.S.DOT corrects AMA
mcia.co.uk
FROM THE UK: Motorcycle sales gain in February
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This Husqvarna racer has been built by Husqvarna UK and HM racing to compete in the Moto 450 class run by the Thundersport GB club. Hmmmanother BMW goes racing.
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motoblog.it
Unimotorcycle Racing: When two wheels are one to many
worldsbk.com: Official Web Site ÔÇô News, features and more
motogp.com: Official Web Site ÔÇô News, features and more
BMW Sauber F1
BMW Motorsport
planet-f1.com
BMW want to keep in touch with top two
autoweek.com
RUMOR: Scuderia Toro Rosso F1 team up for sale [Now where did I burry that coffee can?]
totallymotor.co.uk
BMW considers environmental brand
autoweek.com
Ferrari CEO, former F1 boss jean Todt steps down
BMW Website Review:
Unstopable Traction: BMW G450X
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BMW Yachtsport
BMW Golfsport
BMW Oracle Racing
BMW Sport website
BMW PressClub
BMW Group heading towards a successful year in 2008
Adjusted pre-tax earnings will be above last yearÔÇÖs level
All-time high sales volume levels expected for all three brands
Munich. The BMW Group intends to continue its successful business performance in the current year. ÔÇ£We are aiming towards a current year profit before tax -adjusted for the exceptional gain on the settlement of exchangeable bond on shares in the British aero engine manufacturer, Rolls-Royce, in 2007 - that is higher than in the previous yearÔÇØ, said Norbert Reithofer, the Chairman of the Board of Management of BMW AG at the BMW Group Annual Accounts Press Conference in Munich on Tuesday.
The BMW Group plans to achieve new record sales volume figures for all three brands in 2008 and hence to retain its position as the worldÔÇÖs leading premium manufacturer. ÔÇ£The BMW Group expects another record number of deliveries in 2008. We remain well on course to achieving our strategic sales volume target of 1.8 million vehicles in 2012ÔÇØ, continued Reithofer.
The BMW Group again faces some major challenges in the current year as a result of the strong euro, a weaker US economy and continuing high raw material prices. It is also likely to be confronted in the future by stricter emission standards in many countries. The BMW Group has invested several hundred millions of euros in environment-friendly technologies in recent years, enabling and providing the BMW Group a competitive edge over its competitors. Our EfficientDynamics programme offers customers the best technology that is currently available on the market to reduce fuel consumption and CO2 emissions. In 2007, some 450,000 vehicles were sold in Europe alone equipped with EfficientDynamics. This figure is expected to rise in 2008 over 830,000 vehicles.
Number ONE strategy aimed at safeguarding BMW GroupÔÇÖs future
ÔÇ£We are making sure that the BMW Group is fit for the future. All of the measures adopted in conjunction with our Number ONE strategy are aimed at safeguarding the BMW GroupÔÇÖs future and increasing its valueÔÇØ, he emphasised. By 2012, the BMW GroupÔÇÖs Automobiles segment is aiming to achieve a return on capital employed in excess of 26% and a return on sales in a range of 8% to 10%. ÔÇ£Profitability is essential factor in our endeavours to safeguard the future of the BMW Group. It ensures that the necessary financial resources are available and also safeguards our independenceÔÇØ, stressed Reithofer.
BMW Group achieves all of its targets in 2007
The BMW Group achieved all of the targets that it had set itself for the financial year 2007 by posting new record sales volume and revenue figures and an adjusted profit before tax higher than one year earlier. Profit before tax, at euro 3,873 million (2006: euro 4,124 million), was 6.1% down on the record level achieved in the previous year. Adjusted for the exceptional impact of the settlement of the exchangeable bond on shares in the British engine manufacturer, Rolls-Royce plc, the profit before tax, as previously announced, was 0.6% higher than one year earlier. The exceptional gain on the conversion of the remaining options in 2007, at euro 97 million, was significantly lower than the previous yearÔÇÖs gain of euro 372 million. Group EBIT rose by 4.0% to euro 4,212 million (2006: euro 4,050 million).
As a result of the one-time effect of the corporate tax reform in Germany, the net profit also rose by 9.0% to a new all-time high level of euro 3,134 million (2006: euro 2,874 million). The net profit therefore surpassed the three billion euro figure for the first time. Group revenues climbed by 14.3% to euro 56,018 million (2006: euro 48,999 million) on the back of sharp rise in sales volume and thanks to the dynamic growth of financial services business. This means that revenues were able to break through the euro 50 billion barrier for the first time. Operating cash flow rose to 6,340 (2006: 5,373) million euros, resulting in an increase of 18%.
Adverse currency impact of euro 517 million in 2007
The BMW Group again had to face strong headwinds in 2007 caused by unfavourable developments on the foreign exchange and raw material markets. The adverse currency impact totalled euro 517 million (2006: euro 666 million), while higher raw material prices increased costs by euro 288 million (2006: euro 178 million). Efficiency improvement measures and strong business growth, however, enabled the BMW Group to offset this impact to a large extent. The BMW Group forecasts that the adverse currency impact in the current financial year will be lower than in 2007. All of the main currencies are practically fully hedged for the current financial year.
Shareholders to participate significantly more in success of business
The Board of Management and the Supervisory Board will propose at the Annual General Meeting to be held on 8 May 2008 that the dividend per share of common stock be increased by 51.4% to euro 1.06 (2006: euro 0.70) and that the dividend per share of preferred stock be increased by 50.0% to euro 1.08 (2006: euro 0.72). ÔÇ£We also want our shareholders to be able to participate significantly more in the success of the BMW Group in the futureÔÇØ, explained Reithofer.
New authorisation for share buy-back proposed
The Board of Management and the Supervisory Board of BMW AG will propose a resolution at the Annual General Meeting to authorise the buy-back of up to 10% of the CompanyÔÇÖs share capital. The authorisation, if resolved, will be valid for a period of 18 months. The buy-back authorisation passed in the previous year remains valid until 14 November 2008. It has not yet been decided whether or the extent to which the new authorisation will be applied to buy back further shares.
Automobiles segment earnings increased in 2007
The profit before taxes of the Automobiles segment for the financial year 2007 improved by 7.3% to euro 3,232 million (2006: euro 3,012 million) despite adverse currency factors and high raw material prices. Segment EBIT improved by 12.9% to euro 3,450 million (2006: euro 3,055 million). The EBIT margin was unchanged at 6.4%. Segment revenues increased by 12.7% to a new all-time high level of euro 53,818 million (2006: euro 47,767 million), therefore growing at a faster pace than sales volume. The return on capital employee (ROCE) improved to 22. 8% (2006: 21.7%).
The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers in 2007 rose again to its highest level to date, with the sales volume up by 9.2% to 1,500,678 units (2006: 1,373,970 units). This means that the BMW Group fully achieved the upper single-digit sales growth rate target set for the full year 2007.
One of the major contributing factors for the good performance was 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.
1,276,793 BMW brand cars were sold in 2007, surpassing the previous yearÔÇÖs level (2006: 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 undisputed 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.
Motorcycles business continues to perform well
The Motorcycles segmentÔÇÖs earnings performance again made good progress in 2007, primarily thanks to process optimisation and efficiency improvements. The segment profit before tax rose by 7.6% to euro 71 million (2006: euro 66 million). Revenues fell by 2.9% to euro 1,228 million (2006: euro 1,265 million) due to the changed model mix. The EBIT margin generated by motorcycle business improved to 6.5% (2006: 5.9%), while the ROCE increased to 18.2% (2006: 17.7%). The sales volume increased by 2.4% to 102,467 units (2006: 100,064 units).
Financial services business continues to perform dynamically
The Financial Services segment continued to perform dynamically in 2007 despite less favourable refinancing conditions. Segment profit before tax, at euro 743 million (2006: euro 685 million), was 8.5% ahead of the previous year. Revenues rose by 25.8% to euro 13,940 million (2006: euro 11,079 million). At the year-end, 2.63 million lease and financing contracts were in place with dealers and retail customers, representing an increase of 15.8%. The proportion of new BMW and MINI cars financed by the Financial Services segment increased to 44.7% (2006: 42.4%).
Capital expenditure almost at previous yearÔÇÖs level
Capital expenditure in 2007 totalled euro 4,267 million (2006: euro 4,313 million) and was therefore almost at the previous yearÔÇÖs level. 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. The capital expenditure ratio of the BMW Group declined to 7.6% (2006: 8.8%).
Slight increase in workforce
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%.
BlogRoll: some of the blogs I have collected while purposefully wondering around the internet.
Stuff: A place for everything and everything in its place, including stuff.
sail-world.com
Cahn rules in favor os BMW Oracle Racing
sportrider.com
Riding Skills Series: A little overcooked
sprotrider.com
Riding Skills Series ÔÇô Clutchless upshifting
sprotrider.com
Technicalities: Suspension and Springs
womenridersnow.com
Modifying a motorcycle to fir you
M.R. Traveler
Places 2 Ride Blog
www.biker-events.com
Finding the Good Times on 2 Wheels
Horizonsunlimited.com ÔÇô Newsletter
2008 International Rally
Gillette, Wyoming, July 17-20 2008
TodayÔÇÖsRoadFood.com
Woot
Todays Woot
The Blog
Packer News: Packers.com, jsonline.com - Packers Plus Online
Humor
Over Heard in New York | Voice of the City
Sluggy Freelance
The Onion
xkcd
Bike Candy:
THE END
autobloggreen.com
Lane splitting in California ÔÇô for or against?
Faster and Faster
Two-strokes: The Bimota V Due
cmgonline.com
Emailbag ÔÇô U.S.DOT corrects AMA
mcia.co.uk
FROM THE UK: Motorcycle sales gain in February
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This Husqvarna racer has been built by Husqvarna UK and HM racing to compete in the Moto 450 class run by the Thundersport GB club. Hmmmanother BMW goes racing.
<object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/S3FDUBv34Kk"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/S3FDUBv34Kk" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
motoblog.it
Unimotorcycle Racing: When two wheels are one to many
worldsbk.com: Official Web Site ÔÇô News, features and more
motogp.com: Official Web Site ÔÇô News, features and more
BMW Sauber F1
BMW Motorsport
planet-f1.com
BMW want to keep in touch with top two
autoweek.com
RUMOR: Scuderia Toro Rosso F1 team up for sale [Now where did I burry that coffee can?]
totallymotor.co.uk
BMW considers environmental brand
autoweek.com
Ferrari CEO, former F1 boss jean Todt steps down
BMW Website Review:
Unstopable Traction: BMW G450X
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BMW Yachtsport
BMW Golfsport
BMW Oracle Racing
BMW Sport website
BMW PressClub
BMW Group heading towards a successful year in 2008
Adjusted pre-tax earnings will be above last yearÔÇÖs level
All-time high sales volume levels expected for all three brands
Munich. The BMW Group intends to continue its successful business performance in the current year. ÔÇ£We are aiming towards a current year profit before tax -adjusted for the exceptional gain on the settlement of exchangeable bond on shares in the British aero engine manufacturer, Rolls-Royce, in 2007 - that is higher than in the previous yearÔÇØ, said Norbert Reithofer, the Chairman of the Board of Management of BMW AG at the BMW Group Annual Accounts Press Conference in Munich on Tuesday.
The BMW Group plans to achieve new record sales volume figures for all three brands in 2008 and hence to retain its position as the worldÔÇÖs leading premium manufacturer. ÔÇ£The BMW Group expects another record number of deliveries in 2008. We remain well on course to achieving our strategic sales volume target of 1.8 million vehicles in 2012ÔÇØ, continued Reithofer.
The BMW Group again faces some major challenges in the current year as a result of the strong euro, a weaker US economy and continuing high raw material prices. It is also likely to be confronted in the future by stricter emission standards in many countries. The BMW Group has invested several hundred millions of euros in environment-friendly technologies in recent years, enabling and providing the BMW Group a competitive edge over its competitors. Our EfficientDynamics programme offers customers the best technology that is currently available on the market to reduce fuel consumption and CO2 emissions. In 2007, some 450,000 vehicles were sold in Europe alone equipped with EfficientDynamics. This figure is expected to rise in 2008 over 830,000 vehicles.
Number ONE strategy aimed at safeguarding BMW GroupÔÇÖs future
ÔÇ£We are making sure that the BMW Group is fit for the future. All of the measures adopted in conjunction with our Number ONE strategy are aimed at safeguarding the BMW GroupÔÇÖs future and increasing its valueÔÇØ, he emphasised. By 2012, the BMW GroupÔÇÖs Automobiles segment is aiming to achieve a return on capital employed in excess of 26% and a return on sales in a range of 8% to 10%. ÔÇ£Profitability is essential factor in our endeavours to safeguard the future of the BMW Group. It ensures that the necessary financial resources are available and also safeguards our independenceÔÇØ, stressed Reithofer.
BMW Group achieves all of its targets in 2007
The BMW Group achieved all of the targets that it had set itself for the financial year 2007 by posting new record sales volume and revenue figures and an adjusted profit before tax higher than one year earlier. Profit before tax, at euro 3,873 million (2006: euro 4,124 million), was 6.1% down on the record level achieved in the previous year. Adjusted for the exceptional impact of the settlement of the exchangeable bond on shares in the British engine manufacturer, Rolls-Royce plc, the profit before tax, as previously announced, was 0.6% higher than one year earlier. The exceptional gain on the conversion of the remaining options in 2007, at euro 97 million, was significantly lower than the previous yearÔÇÖs gain of euro 372 million. Group EBIT rose by 4.0% to euro 4,212 million (2006: euro 4,050 million).
As a result of the one-time effect of the corporate tax reform in Germany, the net profit also rose by 9.0% to a new all-time high level of euro 3,134 million (2006: euro 2,874 million). The net profit therefore surpassed the three billion euro figure for the first time. Group revenues climbed by 14.3% to euro 56,018 million (2006: euro 48,999 million) on the back of sharp rise in sales volume and thanks to the dynamic growth of financial services business. This means that revenues were able to break through the euro 50 billion barrier for the first time. Operating cash flow rose to 6,340 (2006: 5,373) million euros, resulting in an increase of 18%.
Adverse currency impact of euro 517 million in 2007
The BMW Group again had to face strong headwinds in 2007 caused by unfavourable developments on the foreign exchange and raw material markets. The adverse currency impact totalled euro 517 million (2006: euro 666 million), while higher raw material prices increased costs by euro 288 million (2006: euro 178 million). Efficiency improvement measures and strong business growth, however, enabled the BMW Group to offset this impact to a large extent. The BMW Group forecasts that the adverse currency impact in the current financial year will be lower than in 2007. All of the main currencies are practically fully hedged for the current financial year.
Shareholders to participate significantly more in success of business
The Board of Management and the Supervisory Board will propose at the Annual General Meeting to be held on 8 May 2008 that the dividend per share of common stock be increased by 51.4% to euro 1.06 (2006: euro 0.70) and that the dividend per share of preferred stock be increased by 50.0% to euro 1.08 (2006: euro 0.72). ÔÇ£We also want our shareholders to be able to participate significantly more in the success of the BMW Group in the futureÔÇØ, explained Reithofer.
New authorisation for share buy-back proposed
The Board of Management and the Supervisory Board of BMW AG will propose a resolution at the Annual General Meeting to authorise the buy-back of up to 10% of the CompanyÔÇÖs share capital. The authorisation, if resolved, will be valid for a period of 18 months. The buy-back authorisation passed in the previous year remains valid until 14 November 2008. It has not yet been decided whether or the extent to which the new authorisation will be applied to buy back further shares.
Automobiles segment earnings increased in 2007
The profit before taxes of the Automobiles segment for the financial year 2007 improved by 7.3% to euro 3,232 million (2006: euro 3,012 million) despite adverse currency factors and high raw material prices. Segment EBIT improved by 12.9% to euro 3,450 million (2006: euro 3,055 million). The EBIT margin was unchanged at 6.4%. Segment revenues increased by 12.7% to a new all-time high level of euro 53,818 million (2006: euro 47,767 million), therefore growing at a faster pace than sales volume. The return on capital employee (ROCE) improved to 22. 8% (2006: 21.7%).
The total number of BMW, MINI and Rolls-Royce brand vehicles delivered to customers in 2007 rose again to its highest level to date, with the sales volume up by 9.2% to 1,500,678 units (2006: 1,373,970 units). This means that the BMW Group fully achieved the upper single-digit sales growth rate target set for the full year 2007.
One of the major contributing factors for the good performance was 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.
1,276,793 BMW brand cars were sold in 2007, surpassing the previous yearÔÇÖs level (2006: 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 undisputed 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.
Motorcycles business continues to perform well
The Motorcycles segmentÔÇÖs earnings performance again made good progress in 2007, primarily thanks to process optimisation and efficiency improvements. The segment profit before tax rose by 7.6% to euro 71 million (2006: euro 66 million). Revenues fell by 2.9% to euro 1,228 million (2006: euro 1,265 million) due to the changed model mix. The EBIT margin generated by motorcycle business improved to 6.5% (2006: 5.9%), while the ROCE increased to 18.2% (2006: 17.7%). The sales volume increased by 2.4% to 102,467 units (2006: 100,064 units).
Financial services business continues to perform dynamically
The Financial Services segment continued to perform dynamically in 2007 despite less favourable refinancing conditions. Segment profit before tax, at euro 743 million (2006: euro 685 million), was 8.5% ahead of the previous year. Revenues rose by 25.8% to euro 13,940 million (2006: euro 11,079 million). At the year-end, 2.63 million lease and financing contracts were in place with dealers and retail customers, representing an increase of 15.8%. The proportion of new BMW and MINI cars financed by the Financial Services segment increased to 44.7% (2006: 42.4%).
Capital expenditure almost at previous yearÔÇÖs level
Capital expenditure in 2007 totalled euro 4,267 million (2006: euro 4,313 million) and was therefore almost at the previous yearÔÇÖs level. 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. The capital expenditure ratio of the BMW Group declined to 7.6% (2006: 8.8%).
Slight increase in workforce
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%.
BlogRoll: some of the blogs I have collected while purposefully wondering around the internet.
Stuff: A place for everything and everything in its place, including stuff.
sail-world.com
Cahn rules in favor os BMW Oracle Racing
sportrider.com
Riding Skills Series: A little overcooked
sprotrider.com
Riding Skills Series ÔÇô Clutchless upshifting
sprotrider.com
Technicalities: Suspension and Springs
womenridersnow.com
Modifying a motorcycle to fir you
M.R. Traveler
Places 2 Ride Blog
www.biker-events.com
Finding the Good Times on 2 Wheels
Horizonsunlimited.com ÔÇô Newsletter
2008 International Rally
Gillette, Wyoming, July 17-20 2008
TodayÔÇÖsRoadFood.com
Woot
Todays Woot
The Blog
Packer News: Packers.com, jsonline.com - Packers Plus Online
Humor
Over Heard in New York | Voice of the City
Sluggy Freelance
The Onion
xkcd
Bike Candy:
THE END
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