08 MAY 2013Reuters
AMAG core profit slips in first quarter of 2013
Edited by : AL CIRCLE
1 min read
Aluminium group AMAG Austria Metall forecast on Tuesday its earnings may slip in 2013, backing away from its outlook in March for flat profit.
"All in all, we expect another successful year from an operational perspective although the factors of influence mentioned above could lead to slightly weaker results as compared to the prior year," it said, citing margin pressure in its European car parts business and lower aluminium prices.
First-quarter earnings before interest, tax, depreciation and amortisation fell 9.1 percent to 31.4 million euros ($41 million) on sales down 3.3 percent to 202.3 million euros.
"All in all, we expect another successful year from an operational perspective although the factors of influence mentioned above could lead to slightly weaker results as compared to the prior year," it said, citing margin pressure in its European car parts business and lower aluminium prices.
First-quarter earnings before interest, tax, depreciation and amortisation fell 9.1 percent to 31.4 million euros ($41 million) on sales down 3.3 percent to 202.3 million euros.
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