BMW said newly imposed trade tariffs could dent the carmaker's earnings by 1 billion euros ($1.09 billion) this year, as escalating trade tensions between China, Europe and the U.S. take a mounting toll on global companies' finances.

(Reuters) - BMW's Chief Financial Officer said on Friday that the added tariffs on U.S. imports imposed up until March 12 would reduce its earnings margin in the autos segment by one percentage point, according to a copy of his speech seen in advance.

The automaker expects earnings to remain flat this year while sales will grow only slightly as a result of global trade tensions and a demand shift in China.