FRANKFURT (Reuters) -- BMW said on Tuesday it would restate its 2002 sales figures due to a change in its internal accounting system.
BMW said in a statement its pre-tax and net profit figures would be unaffected but that it had revised up 2002 revenues by 129 million euros to 42.41 billion euros to include fees from credit card handling.
The restatement, which also affects the cost of sales, adheres to International Financial Reporting Standards, IFRS, which it already uses for external publication.
"The harmonization gives the management and capital markets the same focus," BMW said in a statement.
"The adjustments enable us to base the Planning and Controlling process on the same data as reporting in the external reporting."
BMW switched to International Accounting Standards from German methods when it published its 2001 Annual Report, but that left the company with one system for internal purposes and a second for external use.
Cost of sales for 2002 are also being adjusted up 901 million euros to 32.44 billion euros to include freight costs, dealer provisions and interest expenses from pension commitments.
The Munich-based company will publish 2003 revenues on January 27. It saw profits fall in the first half of 2003, hit by development costs for a range of new models but earnings rose again in the third quarter, boosted by strong demand for its new 5-series model.