Porsche 2003 Annual Report Download - page 107
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Notes 2003 ⁄ 04 2002 ⁄ 03
T€ T€
Sales (16) 6,359,377 5,582,003
Change in inventories and own work capitalized (17) 154,367 – 118,878
Total operating revenues 6,513,744 5,463,125
Other operating income (18) 248,091 147,293
Cost of materials (19) – 2,959,330 – 2,281,310
Personnel expenses (20) – 982,462 – 849,529
Amortization and depreciation – 524,825 – 392,216
Other operating expenses (21) – 1,248,257 – 1,181,970
Income from investments in other companies (22) 4,480 416
Interest income, net (23) 41,658 29,535
Write-downs of marketable securities (24) – 5,099 – 2,344
Income before taxes 1,088,000 933,000
Taxes (25) – 476,000 – 368,000
Net income 612,000 565,000
Minority interests 4,116 – 438
Change in retained earnings – 372,116 – 234,562
Net income available for distribution 244,000 330,000
103
Financial Statements 2003 ⁄ 04
Consolidated Statement of Income of the Porsche Group
for the Period August 1, 2003 to July 31, 2004