BMW’s energy and raw material needs largely secured for 2022 – CFO

2022.05.11 14:07

FILE PHOTO: BMW CFO Nicolas Peter addresses the company’s annual news conference in Munich, southern Germany, March 21, 2017. REUTERS/Michael Dalder/File Photo

BERLIN (Reuters) – The BMW Group has largely secured its energy and raw material needs for 2022, its Chief Financial Officer Nicolas Peter said on Wednesday, but rising raw material prices could still weigh on results.

This has been achieved both through methods such as hedging on the financial market, and energy efficiency adaptations in production, Peter said, speaking at the carmaker’s annual general meeting for shareholders.

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