BMW cuts 2022 profit forecast for car segment due to Ukraine war


BERLIN (Reuters) – BMW lowered its profit margin expectations for its automotive segment for 2022 due to the war in Ukraine, the German carmaker mentioned on Wednesday.

BMW Group now predicts development of earnings earlier than curiosity and taxation (EBIT) in its car segment in a spread of 7-9% due to the war’s results on manufacturing.

Without the affect of war, the corporate would have focused a spread of 8-10%, it mentioned.

BMW mentioned manufacturing interruptions ought to proceed to be anticipated due to the war, including it was in a position to proceed to supply elements from western Ukraine.

(Reporting by Christina Amman; Writing by Miranda Murray, enhancing by Emma Thomasson)

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