宝马集团BMW AG (BAMGF) 2011年年度报告「OTC」.pdf

1、ANNUAL REPORT 2011CORPORATE GOVERNANCECORPORATE GOVERNANCEEARNINGS PERFORMANCEEARNINGS PERFORMANCEBALANCE SHEETSNOTES TO THE GROUP FINANCIAL STATEMENTSKEY PERFORMANCE FIGURESKEY PERFORMANCE FIGURES SEGMENT INFORMATIONREFINANCINGNOTES TO FINANCIAL POSITIONSTATEMENT OF COMPREHENSIVE INCOMEREFINANCINGC

2、ASH FLOW STATEMENTSNET ASSETS POSITIONCOMPARISONTEN-YEAR COMPARISON INCOME STATEMENTS 4 BMW GROUP IN FIGURES 6 REPORT OF THE SUPERVISORY BOARD 14 STATEMENT OF THE CHAIRMAN OF THE BOARD OF MANAGEMENT 18 COMBINED GROUP AND COMPANY MANAGEMENT REPORT 18 A Review of the Financial Year 20 General Economic

3、 Environment 24 Review of Operations 43 BMW Stock and Capital Market in 2011 46 Disclosures relevant for takeovers and explanatory comments 49 Financial Analysis 49 Group Internal Management System 51 Earnings Performance 53 Financial Position 56 Net Assets Position 59 Subsequent Events Report 59 Va

4、lue Added Statement 61 Key Performance Figures 62 Comments on Financial Statements of BMW AG 66 Internal Control System and explanatory comments 67 Risk Management 73 Outlook 76 GROUP FINANCIAL STATEMENTS 76 Income Statements 76 Statement of Comprehensive Income 78 Balance Sheets 80 Cash Flow Statem

5、ents 82 Group Statement of Changes in Equity 84 Notes to the Group Financial Statements 84 Accounting Principles and Policies 100 Notes to the Income Statement 107 Notes to the Statement of Comprehensive Income 108 Notes to the Balance Sheet 129 Other Disclosures 145 Segment Information 150 Responsi

6、bility Statement by theCompanys Legal Representatives 151 Auditors Report 152 STATEMENT ON CORPORATE GOVERNANCE (Part of the Combined Group and Company Management Report)152 Information on the Companys Governing Constitution 153 Declaration of the Board of Management and of the Supervisory Board pur