宝马集团BMW AG (BAMGF) 2019年年度报告「OTC」.pdf

1、Power of ChoiceA N N UA L REPORT 2019CONTENTS1TO OUR SHAREHOLDERS Page 4 BMW Group in Figures Page 8 Report of the Supervisory Board Page 18 Statement of the Chairman of the Board of Management Page 22 BMW AG Stock and Capital Markets in 2019 Page 24 Financial Calendar Page 24 Contacts2 COMBINED MAN

2、AGEMENT REPORT Page 26 General Information and Group Profile Page 26 Organisation and Business Model Page 44 Management System Page 48 Report on Economic Position Page 48 General and Sector-specific Environment Page 52 Overall Assessment by Management Page 53 Comparison of Forecasts for 2019 with Ac

3、tual Results in 2019 Page 64 Review of Operations Page 76 Comments on Financial Statements of BMW AG Page 82 Report on Outlook,Risks and Opportunities Page 82 Outlook Page 88 Risks and Opportunities Page 101 Internal Control System Relevant for Accounting and Financial Reporting Processes Page 102 D

4、isclosures Relevant for Takeovers and Explanatory Comments3GROUP FINANCIAL STATEMENTS Page 108 Income Statement Page 108 Statement of Comprehensive Income Page 110 Balance Sheet Page 112 Cash Flow Statement Page 114 Statement of Changes in Equity Page 116 Notes to the Group Financial Statements Page

5、 116 Accounting Principles and Policies Page 133 Notes to the Income Statement Page 141 Notes to the Statement of Comprehensive Income Page 142 Notes to the Balance Sheet Page 164 Other Disclosures Page 184 Segment Information Page 190 List of Investments at 31 December 20194 CORPORATE GOVERNANCE Pa

6、ge 200 Corporate Governance(Part of the Combined Management Report)Page 200 Information on the Companys Governing Constitution Page 201 Board of Management Page 201 Supervisory Board Page 202 Shareholders and Annual General Meeting Page 202 Declaration of Compliance Page 202 Corporate Governance Sta