BMW 2004 Annual Report Download - page 31
Download and view the complete annual report
Please find page 31 of the 2004 BMW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21 -
22 -
23 -
24 -
25 -
26 -
27 -
28 -
29 -
30 -
31 -
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
41 -
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
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
30
Revenues 44,335 41,525
Cost of sales – 34,064 – 32,090
Gross profit 10,271 9,435
Sales and administrative costs – 4,653 – 4,446
Research and development costs – 2,334 – 2,146
Other operating income and expenses 461 510
Profit before financial result 3,745 3,353
Financial result – 191 –148
Profit from ordinary activities 3,554 3,205
Income taxes – 1,332 –1,258
Net profit 2,222 1,947
in euro million 1.1. to 1.1. to
31.12. 2004 31.12. 2003
Group Income Statement
Analysis of the Group financial statements
Earnings performance
The BMW Group recorded a net profit of euro
2,222 million for the financial year 2004, an improve-
ment of 14.1% over the previous year. The post-tax
return on sales was 5.0% (2003: 4.7%). The Group
generated earnings per share of common stock
of euro 3.30 (2003: euro 2.89) and per share of pre-
ferred stock of euro 3.32 (2003: euro 2.91).
Group revenues for the financial year 2004 rose
by 6.8% compared to the previous year. The in-
crease in reported revenues was held down in par-
ticular by the low US dollar exchange rate. Adjusted
for exchange rate fluctuations, revenues grew by
9.2%. Revenues from the sale of BMW, MINI and
Rolls-Royce brand cars rose by 8.9% despite the
currency impact. Revenues from sales of motor-
cycles were 2.9% lower as a result of volume and
currency factors. Revenues from financial services
rose by 1.8 %, despite negative currency factors.
Revenues from other group activities amounted
to euro 85 million and now relate predominantly
only to the Softlab Group, due to the fact that the
pressings plant in Swindon was allocated to the
Automobiles segment with effect from the begin-
ning of 2004. The comparable figure for revenues
from other Group activities was euro 103 million.
The development of revenues was not uniform in
the various regions. Revenues in Germany and
the rest of Europe rose by 12.9% and 18.2% re-
spectively. In the Americas region, they fell by 8.4%,