BMW Warns Hard Brexit Poses Risk to Earnings Momentum
- CFO says ‘no deal’ could cost several hundred million euros
- Tariffs more painful for BMW than possible logistics snags
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BMW AG said its full-year earnings will come in at the upper range of its guidance, but warned a no-deal Brexit would cost hundreds of millions of euros.
BMW expects its automotive profit margin will be between 2% and 3%, the high end of the range it forecast for the year, Chief Financial Officer Nicolas Peter said Wednesday. Free cash flow will be clearly above the 1.5 billion euros ($1.8 billion) guided previously, he added.