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Rheinmetall AG Annual Report 2011

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Rheinmetall AG Annual Report 2011 Annual Report Rheinmetall ag 2011 Rheinmetall in figures Rheinmetall Group indicators 2007 2008 2009 2010 2011 Sales million 4,005 3,869 3,420 3,989 4,454 Order intake million 4,040 3,780 4,649 3,974 4,189 Order backlog (Dec. 31) million 3,239 3,683 4,940 5,136 4,950 EBITDA million 438 411 180 464 538 EBIT 1) million 270 245 15 297 354 EBT 1) million 213 193 (46) 229 295 Net income 1) million 150 142 (52) 174 225 Cash flow million 352 308 120 344 402 Capital expenditures million 202 200 145 189 207 Amortization/depreciation/impairment million 168 166 165 167 184 Total equity 1) million 1,059 1,080 1,134 1,355 1,546 Total assets 1) million 3,448 3,612 3,835 4,460 4,832 EBIT margin in % 6.7 6.3 0.4 7.4 7.9 ROCE 1) in % 14.5 12.5 0.8 14.6 14.9 Stock price, annual high 74.12 53.81 44.74 60.17 66.46 Stock price, annual closing 54.38 22.90 44.74 60.17 34.24 Stock price, annual low 48.04 16.82 20.41 42.50 30.35 Earnings per share (EpS) 1) 4.15 4.09 (1.60) 4.23 5.55 Dividend per share 1.30 1.30 0.30 1.50 1.80 Employees (Dec. 31) according to capacity 19,185 21,020 19,766 19,979 21,516 1) From 2008, recognition in equity of actuarial gains/losses Rheinmetall stock price trend in comparison to DAX and MDAX An overview of the Rheinmetall Group Mexico Spain USA Great Britain France Canada The Netherlands Brazil Norway Germany Switzerland Defence Weapon Land Systems C4ISTAR and Munitions Wheeled vehicles Reconnaissance Direct fire Tracked vehicles Command Indirect fire Turret systems Fire control Infantry Service Airborne systems Protection systems Plant engineering Air Defence Simulation Propellants Air defence systems and Training Propellant systems Flight simulation Civil chemistry Land simulation Maritime and process simulation India Japan United Arab Emirates South Africa Greece China Sweden Australia Singapore Italy Malaysia Austria Czech Republic Automotive KS Kolbenschmidt Pierburg Pump KS Gleitlager Passenger car pistons Technology Metallic plain bearings Commercial vehicle pistons Oil pumps Permaglide® Large-bore pistons Vacuum pumps Continuous castings Piston systems Water circulation Large bearings and coolant pumps Pierburg KS Aluminium- Motor Service Air management Technologie Aftermarket components Actuators Aluminum alloy Emission reduction engine blocks Solenoid valves Cylinder heads Commercial diesel systems Final machining Contents Report of the Supervisory Board ............................................................................................................................................................................................................ 2 Summarized management report for 2011 ...................................................................................................................................................................... 7 Rheinmetall on the capital markets ..................................................................................................................................................................................................................... 7 General economic conditions ........................................................................................................................................................................................................................................ 10 Rheinmetall Group business trend ................................................................................................................................................................................................................... 13 Defence sector ....................................................................................................................................................................................................................................................................................... 19 Automotive sector ....................................................................................................................................................................................................................................................................... 24 Financing ............................................................................................................................................................................................................................................................................................................ 27 Capital expenditure ................................................................................................................................................................................................................................................................ 29 Research and development ................................................................................................................................................................................................................................ 32 Personnel ......................................................................................................................................................................................................................................................................................................... 40 Rheinmetall Aktiengesellschaft ............................................................................................................................................................................................................................... 46 Corporate responsibility (Sustainability report) ............................................................................................................................................................. 49 Board remuneration report ................................................................................................................................................................................................................................................... 50 Declaration of corporate governance ......................................................................................................................................................................................................... 54 Statutory disclosures in accordance with Sections 289 (4) and 315 (4) HGB and explanatory report ..................................................................................................................................................................................................................................................................... 61 Risk report and report in accordance with Sections 289 (5) and 315 (2) No. 5 HGB ........... 64 Prospects ............................................................................................................................................................................................................................................................................................................................ 75 Report on post-balance sheet date events .................................................................................................................................................................................. 79 Consolidated financial statements 2011 ....................................................................................................................................................................... 81 Consolidated balance sheet ............................................................................................................................................................................................................................................ 82 Consolidated income statement ............................................................................................................................................................................................................................ 83 Consolidated cash flow statement .................................................................................................................................................................................................................. 84 Statement of changes in equity ................................................................................................................................................................................................................................ 85 Notes to the consolidated financial statements ........................................................................................................................................................... 86 List of shareholdings 147 ........................................................................................................................................................................................................................................................................ Responsibility statement 152 .......................................................................................................................................................................................................................... Auditor’s report and opinion 153 ....................................................................................................................................................................................................... Additional information ................................................................................................................................................................................................................................................
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