BMW 2002 Annual Report Download - page 13

001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
031 BMW Stock
034 Corporate Governance
042 Group Financial Statements
106 BMW AG Financial Statements
112 BMW Group Annual Comparison
114 BMW Group Locations
116 Glossary
120 Index
12
Another successful year for the BMW Group
in 2002
The BMW Group continued to develop successfully
in 2002. Against the background of a difficult world-
wide economic climate, car and motorcycle sales
achieved by the BMW Group outperformed the over-
all market in almost all regions. As a consequence,
revenues and earnings rose, again surpassing the
previous year’s record levels.
The group profit from ordinary activities rose
during 2002 by 1.7% to euro 3,297 million. All lines
of business contributed to this performance and all
segments improved on their previous year’s results.
The pre-tax return on sales was 7.8 % (2001: 8.4%).
The profit from ordinary activities of the Auto-
mobiles segment amounted to euro 2,883 million,
3.3% higher than in the previous year despite the
current phase of high expenditure for the implemen-
tation of the product and market offensive.
The Motorcycles segment achieved a profit from
ordinary activities of euro 60 million, an increase of
1.7% compared to the previous year.
The profit from ordinary activities of the Financial
Services segment in 2002 amounted to euro 422 mil-
lion, an increase of 8.2% compared to the previous
year.
Reconciliations to the Group profit from ordinary
activities show net expenses of euro 68 million (2001:
euro 1 million)
The net profit of the BMW Group increased in
2002 to euro 2,020 million, surpassing the previous
year by 8.3%.
Dividend at high level of previous year
The Board of Management and the Supervisory
Board propose to the Annual General Meeting to use
the unappropriated profit available for distribution
in BMW AG of euro 351 million to pay a dividend on
the equity entitled to dividends (622.2 million com-
mon stock shares and 50.6 million preferred stock
shares, each with a nominal value of euro 1) of
euro 0.52 for each share of common stock (2001:
euro
0.52) and euro 0.54 for each share of preferred
stock (2001: euro 0.54).
Revenues increased again
With total revenues of euro 42,282 million in 2002, the
BMW Group achieved growth of 9.9%, a new record
BMW Group Revenues by region
in euro million
13,000
12,000
11,000
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
98
HGB
6,413
99
HGB
9,206
00
HGB
9,899
02
IAS
13,071
9,271
2,822
4,592
1,159
8,823
10,343
8,450
3,201
1,097
4,667
01
IAS
11,6 72
3,586
1,190
10,238
7,379
4,398
4,447
7,516
3,574
00
IAS
10,835
9,126
1,155
4,807
7,553
3,750
8,098
965
7,194
4,826
953
5,615
8,118
North America
Germany
Rest of Europe
United Kingdom
Asia/Oceania
Other markets
Group Management Report. The BMW Group achieved important milestones
in the implementation of its product and market offensive in 2002 thus laying
the foundation for continued future success.