Bayerische Motoren Werke is a holding company, engaged in the development, manufacture and sale of cars and motorcycles. Co. owns three brands: BMW, MINI and Rolls-Royce. Co.'s BMW automobile range encompasses the 1 Series, including coupe and convertible models; the 3 Series, including sedan, touring, coupe and convertible models; the 5 Series, including sedan and touring models; the 6 Series, including coupe or convertible; the 7 Series large sedan; the Z4 roadster and coupe; the sports utility vehicles, X3, X5 and X6 and M models. Co. also provides cars under the MINI brand and motorcycles under the BMW brand. The Rolls-Royce brand provides three cars, Phantom, Coupe and Ghost.
  • Ticker519000
  • ISINDE0005190003
  • SectorAutomobiles & Parts
  • CountryGermany

Analysts

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/07/2019

Given still-fragile fundamentals for the industry and limited visibility, we think the recent auto supplier rally is premature. While 2019 should not have any more major unpleasant surprises in store, market expectations for 2020 still look too ambitious (~6%) in light of our scenario for production to decline further (-0.7%). On this basis, we are keeping to our cautious stance on auto suppliers. Within the segment, Plastic Omnium is still our Top Pick (Buy), while Valeo is our least...

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/10/2019

...

François Maury ...
  • Georges Dieng

ODDO : Top 5 car market in Europe: +11.7% in September, i.e. -1.2% YTD

>+11.7% in September 2019 (-22.3% in September 2018) - Car registrations for the Top 5 Europe market (over 70% of EU+EFTA volumes) were up by 11.7% in September, i.e. down 1.2% YTD. All markets were up: Germany (+22.2%), Spain (+18.3%), France (+16.6%), Italy (+13.4%) and the UK (+1.3%). The majority of carmakers were penalised by an unfavourable base effect linked to the WLTP coming into effect in September 2018. To recap, the Top 5 market had declined by 2...

François Maury ...
  • Georges Dieng

ODDO : Marché VP Top 5 Europe : +11.7% en septembre soit -1.2% YTD

>+11.7% en septembre 2019 (-22.3% en septembre 2018) - Les immatriculations sur le Top 5 (> 70% des volumes EU+EFTA) sont en hausse de 11.7% sur septembre, soit en baisse de 1.2% YTD. Tous les marchés sont en hausse : Allemagne (+22.2%), Espagne (+18.3%), France (+16.6%), Italie (+13.4%) et le RU (+1.3%). La majorité des constructeurs a bénéficié d’un effet de base favorable lié à l’entrée en vigueur des nouvelles normes d’homologation WLTP en septembre 2018...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/04/2019

Having accompanied part of Verbund’s performance since 2016, we downgraded our rating on the stock to Neutral on 8 November 2018. All of the elements are now in place for a more marked profit-taking. We are downgrading our rating to Reduce (from Neutral). The sharp increase in electricity and CO2 prices that we were expecting has materialised and has contributed to supporting earnings growth. But history does not repeat itself and it becomes more and more difficult to identify today t...

Bayerische Motoren Werke Aktiengesellschaft: Key Facts and Statistics - FYE December 2017

A summary company profile, detailing Bayerische Motoren Werke Aktiengesellschaft’s business operations and financial highlights.

Bayerische Motoren Werke Aktiengesellschaft - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Bayerische Motoren Werke Aktiengesellschaft: Update to Discussion of Key Credit Factors

Update to discussion of BMW's key credit factors

Bayerische Motoren Werke Aktiengesellschaft - September 2017 (LTM): Peer Snapshot

Peer Snapshot: Bayerische Motoren Werke Aktiengesellschaft - September 2017 (LTM) 21 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

Bayerische Motoren Werke Aktiengesellschaft - June 2017 (LTM): Peer Snapshot

Peer Snapshot: Bayerische Motoren Werke Aktiengesellschaft - June 2017 (LTM) 27 September 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/07/2019

Given still-fragile fundamentals for the industry and limited visibility, we think the recent auto supplier rally is premature. While 2019 should not have any more major unpleasant surprises in store, market expectations for 2020 still look too ambitious (~6%) in light of our scenario for production to decline further (-0.7%). On this basis, we are keeping to our cautious stance on auto suppliers. Within the segment, Plastic Omnium is still our Top Pick (Buy), while Valeo is our least...

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/10/2019

...

François Maury ...
  • Georges Dieng

ODDO : Top 5 car market in Europe: +11.7% in September, i.e. -1.2% YTD

>+11.7% in September 2019 (-22.3% in September 2018) - Car registrations for the Top 5 Europe market (over 70% of EU+EFTA volumes) were up by 11.7% in September, i.e. down 1.2% YTD. All markets were up: Germany (+22.2%), Spain (+18.3%), France (+16.6%), Italy (+13.4%) and the UK (+1.3%). The majority of carmakers were penalised by an unfavourable base effect linked to the WLTP coming into effect in September 2018. To recap, the Top 5 market had declined by 2...

François Maury ...
  • Georges Dieng

ODDO : Marché VP Top 5 Europe : +11.7% en septembre soit -1.2% YTD

>+11.7% en septembre 2019 (-22.3% en septembre 2018) - Les immatriculations sur le Top 5 (> 70% des volumes EU+EFTA) sont en hausse de 11.7% sur septembre, soit en baisse de 1.2% YTD. Tous les marchés sont en hausse : Allemagne (+22.2%), Espagne (+18.3%), France (+16.6%), Italie (+13.4%) et le RU (+1.3%). La majorité des constructeurs a bénéficié d’un effet de base favorable lié à l’entrée en vigueur des nouvelles normes d’homologation WLTP en septembre 2018...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/04/2019

Having accompanied part of Verbund’s performance since 2016, we downgraded our rating on the stock to Neutral on 8 November 2018. All of the elements are now in place for a more marked profit-taking. We are downgrading our rating to Reduce (from Neutral). The sharp increase in electricity and CO2 prices that we were expecting has materialised and has contributed to supporting earnings growth. But history does not repeat itself and it becomes more and more difficult to identify today t...

1 director bought

A director at Bayerische Motoren Werke Ag bought 1,999 shares at 73.030EUR and the significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Bruno Cavalier ...
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2019

...

Bruno Cavalier ...
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/07/2019

...

Fatma Agnès Hamdani ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Olivier Lebrun
  • Philippe Ourpatian
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/22/2019

The 2011-2012 crisis threatened the PSA group’s very existence, forcing it to adopt a frugal approach to investment that is now part of its DNA. This keeps the organisation under pressure and forces all projects to prove their profitability. This discipline leads the group to be selective in its choices, use partnerships and the integration of Opel as levers, and focus on flexibility, without sacrificing its future prospects. The group’s renewed financial health gives it considerable ...

Fatma Agnès Hamdani ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Olivier Lebrun
  • Philippe Ourpatian
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/03/2019

Imposée par la crise existentielle subie en 2011/12, la frugalité en termes d’investissement fait désormais partie de l’ADN du groupe PSA. Elle garde ainsi l’organisation sous tension et force tous les projets à démontrer leur rentabilité. Cette discipline conduit le groupe à rester sélectif dans ses choix, utiliser le levier des partenariats et de l’intégration d’Opel et privilégier la flexibilité, sans faire d’impasse préjudiciable à son avenir. Sa santé financière retrouvée lui don...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Pierre Corby
  • Roland Pfaender
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/30/2019

If we look for a plausible reason for the performances at the start of the year, the easing of fears of a recession stemming from a monetary policy mistake in the US looks a good candidate. If this is true, we may expect the market to soon look for signs of a stabilisation in the cycle to buy a soft landing scenario, synonymous with a phase of renewed gains. In the meantime, the resurgence of questions (macro economy, European politics, US/China negotiations) could result in a pause o...

BMW AG. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BMW AG. (DE), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 13, 2019, the closing price was EUR 65.30 and its potential was estimated at EUR 70.05.

Ng Adrian

BMW

Ng Adrian

BMW

Ng Adrian

BMW

Ng Adrian

BMW

PSA Automakers and Blockchain: What Can Blockchain Do for OEMs?

Analyst Julie Boote thinks blockchain will be a boon for assemblers; and that Toyota’s go-it-alone stance presents advantages.

Expert Corporate Governance Service (ECGS)

BMW - AGM 16 May 2019

Item 2: The Boards propose a dividend of EUR 3.50/ordinary share and of EUR 3.52 per preference share. The dividend is not covered by free cash flow for a third consecutive year. We therefore consider a dividend payment inappropriate at this time and recommend to oppose the dividend proposal. Item 4:  We voice our concerns that the Supervisory Board has failed to again table the Management Board members remuneration system for shareholder approval. This despite the fact that it had received a very low approval level (79%) which shows significant investor concerns. Item 6.1: We recommend oppo...

BMW – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS) ...
  • Jehanne Leroy

Proxy Report - 17/05/2018

Item 5: KPMG, Berlin, is proposed as auditor for the current financial year. The ratio of non-audit/audit fees slightly exceeds our guidelines and in addition we note that KPMG has audited the Company since more than 30 years (no exact starting date provided by the Company) which significantly exceeds our maximum acceptable term of office of 10 years or 20 years in cases where an audit tender has taken place after the initialengagement period. We therefore recommend opposing the re-election of KPMG as auditor. Item 6.4: We recommend opposing the re-election of Prof. Köcher due to our concerns...

Matthieu DRIOL

Analyse court terme - BMW : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 76,40 € prochainement. Le prochain objectif est à 72,25 €, puis 67,50 €. Le franchissement de 86,74 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - BMW : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €76.40. The next target is at €72.25, then €67.50. Passing €86.74 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - BMW : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 76,40 € prochainement. Le prochain objectif est à 72,25 €, puis 67,50 €. Le franchissement de 86,74 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - BMW : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €76.40. The next target is at €72.25, then €67.50. Passing €86.74 would question the continuation of the fall.

Matthieu DRIOL

Medium term view - BMW : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €74.46, then €66.23. Passing €93.29 would question the continuation of the fall.

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