BMW 2012 Annual Report Download - page 64

64
18 COMBINED GROUP AND COMPANY
MANAGEMENT REPORT
18 A Review of the Financial Year
21 General Economic Environment
24 Review of Operations
44 BMW Stock and Capital Market
47 Disclosures relevant for takeovers
and explanatory comments
50 Financial Analysis
50 Internal Management System
52 Earnings Performance
54 Financial Position
57 Net Assets Position
59 Subsequent Events Report
59 Value Added Statement
61 Key Performance Figures
62 Comments on BMW AG
65 Internal Control System and
explanatory comments
66 Risk Management
74 Outlook
BMW AG Income Statement
in € million
2012 2011
Revenues 58,805 55,007
Cost of sales – 46,252 – 43,320
Gross profit 12,553 11,687
Selling expenses – 3,684 – 3,381
Administrative expenses –1,701 –1,410
Research and development expenses – 3,573 – 3,045
Other operating income and expenses 703 670
Result on investments 598 181
Financial result – 99 – 665
Profit from ordinary activities 4,797 4,037
Extraordinary income – 29
Income taxes –1,635 – 2,073
Other taxes – 31 – 23
Net profit 3,131 1,970
Transfer to revenue reserves –1,491 – 462
Unappropriated profit available for distribution 1,640 1,508
KPMG AG Wirtschaftsprüfungsgesellschaft, Munich,
has issued an unqualified audit opinion on the financial
statements of BMW AG, of which the balance sheet and
the income statement are presented here. The BMW AG
financial statements for the financial year 2012 will be
submitted to the operator of the electronic version of the
German Federal Gazette and can be obtained via the
Company Register website. These financial statements
are available from BMW AG, 80788 Munich, Germany.