BMW 2011 Annual Report Download - page 64

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18 COMBINED GROUP AND COMPANY
MANAGEMENT REPORT
18 A Review of the Financial Year
20 General Economic Environment
24 Review of Operations
43 BMW Stock and Capital Market
46 Disclosures relevant for takeovers
and explanatory comments
49 Financial Analysis
49 Internal Management System
51 Earnings Performance
53 Financial Position
56 Net Assets Position
59 Subsequent Events Report
59 Value Added Statement
61 Key Performance Figures
62 Comments on BMW AG
66 Internal Control System and
explanatory comments
67 Risk Management
73 Outlook
BMW AG Income Statement
in € million
2011 2010
Revenues 55,007 45,773
Cost of sales – 43,320 – 37,125
Gross profit 11,687 8,648
Sales costs – 3,381 – 2,783
Administrative costs –1,410 – 1,345
Research and development costs – 3,045 – 2,537
Other operating income and expenses 670 567
Result on investments 181 152
Financial result – 665 – 365
Profit from ordinary activities 4,037 2,337
Extraordinary income 29 314
Extraordinary expenses – – 39
Income taxes – 2,073 – 1,088
Other taxes – 23 – 18
Net profit 1,970 1,506
Transfer to revenue reserves – 462 – 654
Unappropriated profit available for distribution 1,508 852