BMW 2002 Annual Report Download - page 45

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44
Income Statement for the year-ended
31 December 2002
The BMW Group recorded a net profit of euro 2,020
million for the financial year 2002, an 8.3% improve-
ment over the previous year. The post-tax return on
sales was 4.8% (2001: 4.9%). Earnings per share of
common stock were euro 3.00 (2001: euro 2.78 ).
To t al revenues of the
BMW
Group rose by 9.9%.
Revenues of the Automobiles, Motorcycles and
Financial Services segments increased by 11.6 %,
6.9% and 8.7% respectively. Revenues of other
group companies fell by 42.9%, mainly due to the fact
that the previous years figures included revenues
of the supplier plant Powertrain Ltd., Bracknell, which
was sold in 2001. Revenue growth was
achieved in
all regions. Revenues increased by 1.0 % in Germany,
11.4% in the rest of Europe, 11.1% on the American
continent and 24.1% in the other markets Africa,
Asia, Oceania.
The increase in cost of sales, at 9.8%, was lower
than that of revenues. Within cost of sales, the cost
of materials increased less than, whilst warranty
and goodwill expenses increased more than, the
increase in revenues. The gross profit improved by
10.3 % compared to the previous year and repre-
sented
25.4% (2001: 25.3 %) of revenues.
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
BMW Group
Financial Analysis
Revenues 9,944 9,986 42,282 38,463
Cost of sales 7,169 7,495 31,542  28,727
Gross profit 2,775 2,491 10,740 9,736
Sales and administrative costs 1,273 1,183  4,903  4,647
Research and development costs  732  715  2,011 1,663
Other operating income and expenses 129 40  448 70
Profit before financial result 641 553 3,378 3,356
Financial result 64 15 81 114
Profit from ordinary activities 577 538 3,297 3,242
Income taxes 251  231 1,277 1,376
Minority interest 0 000
Net profit 326 307 2,020 1,866
in euro million 4th quarter 4th quarter 2002 2001
2002 2001
Group Income Statement