BMW 2004 Annual Report Download - page 52

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in euro million Notes Group Industrial operations*Financial operations*
2004 2003 2004 2003 2004 2003
Revenues [8]44,335 41,525 43,662 39,712 8,479 7,822
Cost of sales [9]–34,064 – 32,090 –34,107 – 30,925 –7,423 –6,857
Gross profit 10,271 9,435 9,555 8,787 1,056 965
Sales and administrative costs [10]–4,653 –4,446 –4,255 – 4,058 – 424 – 407
Research and development costs [11]–2,334 – 2,146 –2,334 – 2,146 ––
Other operating income and expenses [12]461 510 426 469 14 11
Profit before financial result 3,745 3,353 3,392 3,052 646 569
Financial result [13]– 191 – 148 –207 – 229 57 89
Profit from ordinary activities 3,554 3,205 3,185 2,823 703 658
Income taxes [14]–1,332 –1,258 –1,204 – 1,128 –254 –231
Net profit [15]2,222 1,947 1,981 1,695 449 427
Earnings per share
of common stock in euro [16]3.30 2.89
Earnings per share
of preferred stock in euro [16]3.32 2.91
*before consolidation of transactions between the sub-groups
BMW Group
Group and sub-group Income Statements
51