BMW 2001 Annual Report Download - page 65
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64
In conjunction with a reorganisation of the BMW
Group undertaken in fiscal year 2000, the develop-
ment, production and sales of Rover Cars, part of
the Rover Automobile segment, was sold to the
Phoenix Consortium on 9 May 2000 for a considera-
tion of GBP 10. The other part, the Land Rover busi-
The profit from ordinary activities of the Group
was reduced in total in 2000 by losses recorded by
the Rover Automobiles segment amounting to euro
951 million. This amount comprises the losses of
euro 755 million disclosed in the Rover Automobiles
ness, was acquired by the Ford Motor Company,
Dearborn, Mich., at 30 June 2000 for a considera-
tion of euro 3 billion.
The effect on the Group income statement for
the year 2000 up to the date of each sale is shown
in the following analysis:
segment, excluding inter-company recharges of eu-
ro 15 million, and including disengagement costs of
euro 211 million which could not be recognised as a
provision in 1999 under IAS.
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
Notes to the Group Financial Statements
Notes to the Income Statement
[8]Effect of
discontinuing
operation (Rover)
on the income
statement for
fiscal year 2000
in euro million
Revenues 3,500
Cost of sales 3,424
Gross profit 76
Sales and administrative costs 669
Research and development costs 152
Other operating income and expenses 159
Loss before financial result 904
Financial result 47
Loss from ordinary activities 951
Income taxes 291
Net loss 660