BMW 2004 Annual Report Download - page 39

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Group Management Report 8
A review of the Financial Year 8
Outlook 29
Financial Analysis 30
--Earnings performance 30
--Financial position 33
--Net assets position 34
--Events after the
Balance Sheet date 37
--Value added statement 37
--Key performance figures 39
--Comments on the financial
statements of BMW AG 40
Risk Management 44
BMW Stock in 2004 48
38
in euro million 2004 2004 2003*2003 Change
in % in % in %
Work performed
Revenues 44,335 97.7 41,525 97.1
Financial income 54 0.1 148 0.3
Other income 980 2.2 1,111 2.6
Total Group output 45,369 100.0 42,784 100.0 6.0
Cost of materials 24,467 53.9 22,600 52.8
Other expenses 5,093 11.3 5,230 12.2
Bought-in costs 29,560 65.2 27,830 65.0 6.2
Gross added value 15,809 34.8 14,954 35.0 5.7
Depreciation and amortisation 3,589 7.9 3,255 7.6
Net added value 12,220 26.9 11,699 27.4 4.5
Applied to:
Employees 7,154 58.5 7,066 60.4 1.2
Providers of finance 1,059 8.7 1,077 9.2 1.7
Government/public sector 1,785 14.6 1,609 13.8 10.9
Shareholders 419 3.4 392 3.3 6.9
Group 1,803 14.8 1,555 13.3 15.9
Net added value 12,220 100.0 11,699 100.0 4.5
BMW Group value added statement
*previous year adjusted
BMW Group value added 2004
in %
Net added value
Cost of materials
Depreciation and amortisation
Other expenses
11. 37.9
53.9
26.9
58.5 %
8.7%
14.6 %
3.4 %
14.8 %
Employees
Providers of finance
Government/public sector
Shareholders
Group