BMW 2003 Annual Report Download - page 40

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39
2003 2002
Gross Margin %22.7 22.8*
EBITDA Margin %13.8 13.3*
EBIT Margin %8.1 8.3*
Pre-tax return on sales %7.7 7.8*
Post-tax return on sales %4.7 4.8*
Pre-tax return on equity %23.1 30.6
Post-tax return on equity %14.0 18.8
Equity ratio – Group %26.3 25.0
Industrial operations %45.4 43.1
Financial operations %9.8 9.4
Equity as a percentage of non-current assets
(excluding leased products) %119.5 117.4
Equity as a percentage of non-current assets %79.9 73.7
Cash inflow from operating activities euro million 7,871 7,250
Cash outflow from investing activities euro million 11,231 9,715
Internal financing capability %70.1 74.6
Cash flow euro million 4,490 4,374
Cash flow as a percentage of capital expenditures %105.8 108.2
Key performance figures
*reclassified after harmonisation of internal and external reporting systems