The premium carmaker, which sold a record 2.52 million vehicles last year despite semiconductor shortages, reported a 10.3% earnings margin for 2021, its highest since 2017.
BMW said production interruptions should continue to be expected due to the war, adding it was able to continue to source parts from western Ukraine and was maintaining a high level of flexibility in its production network to minimize disruption.
Supply bottlenecks for semiconductor components are also likely to remain an issue, said BMW, which does not expect the situation to improve until the second half of 2022.
BMW, which more than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), said it expects a significant increase in pre-tax profit for the current year as a result of the full consolidation of BMW Brilliance in China.
(Reporting by Christina Amman; Writing by Miranda Murray, editing by Emma Thomasson)