The BMW Group made a record net profit of 2,020 million euro in 2002, up 8.3% from 2001’s 1,866 million. The profit before tax (group profit from ordinary activities) also reached a new high of euro 3,297 million, a 1.7% improvement over the previous year (2001: euro 3,242 million). The company is describing 2002 as the most successful year in the history of the BMW Group, reflecting the underlying strength of the group during a phase of substantial expenditure for the current product and market offensive.