BMW 2001 Annual Report Download - page 35
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34
Total revenues of the BMW Group rose by
3.3% in 2001. After adjustment for the revenues
of the Rover Automobiles segment in the previous
year, total revenues of the BMW Group rose by
14.0 %. Revenues from automobiles and motor-
cycles increased by 22.1% and 14.2 % respectively.
Revenues from financial services fell by 13.8 %,
due mainly to a euro 1.0 billion reduction in lease in-
stalment revenues following the reorganisation of
lease business in Germany. As an up-side however,
this leads to a corresponding increase in the external
sales of the BMW Automobiles segment.
Cost of sales were at the previous years level.
Cost of sales in 2000 included impairment losses on
production facilities at Oxford and Swindon which
were not repeated in fiscal year 2001. After adjust-
ment for the costs relating to the Rover Automobiles
segment, cost of sales increased by 13.4 %.
Sales and administrative costs were almost
identical to the previous year. After adjustment for
the costs recorded in the Rover Automobiles seg-
ment in the previous year, sales and administrative
costs increased by 15.5 % as a consequence of
business expansion measures and the launches of
the MINI and the BMW 7 Series.
Due to the current product offensive, the in-
crease of 15.5 % in the research and development
costs is markedly greater than the increase in
revenues.
Net operating expenses decreased by 75.2%.
Other operating income and expenses in the previ-
ous year had been affected only minimally by the
Rover Automobiles segment. In fiscal year 2001,
other operating income includes euro 206 million
higher income from the release of provisions and
gains on the sale of land no longer required for
001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
029 BMW Stock
033 Group Financial Statements
098 BMW AG Financial Statements
104 BMW Group Annual Comparison
106 BMW Group Locations
108 Glossary
112 Index
BMW Group
Financial Analysis
Revenues 38,463 37,226
Cost of sales 28,727 28,747
Gross profit 9,736 8,479
Sales and administrative costs 4,647 4,692
Research and development costs 1,663 1,440
Other operating income and expenses 70 282
Profit before financial result 3,356 2,065
Financial result 114 33
Profit from ordinary activities 3,242 2,032
Income taxes 1,376 823
Net profit 1,866 1,209
in euro million 2001 2000
Income Statement