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    BMW   DE0005190003

BMW AG

(BMW)
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Bayerische Motoren Werke : BMW raises 2021 profit forecast but chip shortage will hit second half

08/03/2021 | 02:31am EDT

BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker.

The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive Oliver Zipse.

“However,” he continued, “in light of a number of prevailing risks, including raw materials prices and a shortage of semiconductors, the second six-month period is likely to be more volatile for the BMW Group.”

The automotive company reported a better-than-expected profit for its second quarter compared with a loss in the same period last year – when the German luxury carmaker felt the force of the pandemic.

BMW said it now expected a full-year operating margin for the automotive segment between seven to nine per cent, up from its previous forecast range of six to eight per cent.

Analysts had expected net income of €2.2bn for the second quarter, according to a Reuters report but the company’s actual net profit exceeded at €4.8bn (£4.1bn), versus a loss of €212m for the same quarter in 2020.

The post BMW raises 2021 profit forecast, but warns chip shortage will hit second half appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on BMW AG
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Financials
Sales 2021 110 B 129 B 129 B
Net income 2021 9 711 M 11 379 M 11 379 M
Net cash 2021 17 800 M 20 859 M 20 859 M
P/E ratio 2021 5,43x
Yield 2021 5,26%
Capitalization 52 890 M 61 932 M 61 976 M
EV / Sales 2021 0,32x
EV / Sales 2022 0,28x
Nbr of Employees 120 726
Free-Float 57,3%
Chart BMW AG
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BMW AG Technical Analysis Chart | BMW | DE0005190003 | MarketScreener
Technical analysis trends BMW AG
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 81,59 €
Average target price 102,83 €
Spread / Average Target 26,0%
EPS Revisions
Managers and Directors
Oliver Zipse Chairman-Management Board
Nicolas Peter Chief Financial Officer
Norbert Reithofer Chairman-Supervisory Board
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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