78 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Financial Performance VALUE ADDED STATEMENT The value added statement shows the value of work performed by the BMW Group during the financial year, less the value of work bought in. Depreciation and amortisation, cost of materials, and other expenses are treated as bought-in costs in the net value added calculation. The allocation statement applies value added to each of the participants involved in the value added pro- cess. The bulk of the net value added benefits the employees. The proportion remaining in the Group is retained to finance fu- ture operations. The gross value added amount treats deprecia- tion and amortisation as a component of value added which, in the allocation statement, would be treated as internal financing. Net value added by the BMW Group declined in 2024 due to lower year-on-year earnings. BMW Group value added statement 2024 in € million 2024 in % 2023 in € million 2023 in % Change in % W O R K P E R F O R M E D Revenues 142,380 99.2 155,498 100.1 – 8.4 Financial income – 325 – 0.2 – 1,227 – 0.8 – Other income 1,411 1.0 1,045 0.7 35.0 Total output 143,466 100.0 155,316 100.0 – 7.6 Cost of materials* 83,572 58.3 82,527 53.1 1.3 Other expenses 14,232 9.9 22,609 14.6 – 37.1 Bought-in costs 97,804 68.2 105,136 67.7 – 7.0 Gross value added 45,662 31.8 50,180 32.3 – 9.0 Depreciation and amortisation of total tangible, intangible and investment assets 14,628 10.2 14,565 9.4 0.4 Net value added 31,034 21.6 35,615 22.9 – 12.9 A L L O C A T I O N Employees 15,122 48.7 14,721 41.3 2.7 Providers of finance 5,061 16.3 3,665 10.3 38.1 Government/public sector 3,173 10.2 5,064 14.2 – 37.3 Shareholders 2,677 8.6 3,802 10.7 – 29.6 Group 4,613 14.9 7,488 21.0 – 38.4 Non-controlling interests 388 1.3 875 2.5 – Net value added 31,034 100.0 35,615 100.0 – 12.9 * Cost of materials comprises all primary material costs incurred for vehicle production plus ancillary material costs (such as customs duties, insurance premiums and freight).