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Semiconductors and energy crucial factors to BMW earnings - CEO

Reuters
·1-min read
German Economic and Climate Protection Minister Habeck at BMW in Munich

BERLIN (Reuters) - Semiconductor production and energy supply in Europe will be decisive for BMW keeping its automotive segment earnings margin on target, chief executive Oliver Zipse said on Wednesday.

"Semiconductor supply difficulties remain the dominant and decisive issue for our sales performance," he said in a speech following second-quarter results.

"Our EBIT margin in the Automotive Segment should stay within the range of seven to nine percent. The crucial factor will be how the supply situation develops – not just for semiconductors, but also energy supplies in Europe."

The company was also actively preparing for a potential shortage of gas, evaluating whether it could make up the electricity from gas-powered plants by purchasing external power, Zipse said.

(Reporting by Victoria Waldersee, editing by Rachel More)