UPDATE 1-AMAG says weak prices, car parts unit may hit results
* Q1 EBITDA down 9.1 pct to 31.4 million euros
* Sales slip 3.3 pct to 202.3 million euros
* Says 2013 results may weaken slightly (Adds quotes on car sector)
VIENNA, May 7 (Reuters) - AMAG Austria Metall forecast lower aluminium prices and margin pressure in its car parts business could make earnings slip in 2013, backing away from its outlook in March for flat results.
"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 on Tuesday.
First-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) fell 9.1 percent to 31.4 million euros ($41 million) on sales down 3.3 percent to 202.3 million euros.
AMAG's EBITDA fell 11 percent to 134 million euros in 2012.
The company said it expected full capacity utilisation in the second quarter thanks to a solid order backlog but said market uncertainty prevented it from giving a precise forecast of how things will stand by the end of the year.
Its casting division relies heavily on the European market and on automotive products.
"Shipments for the European automotive industry are forecast to decline for 2013, and we therefore anticipate high margin pressure to persist. Currently, there are no signs of the situation becoming easier," it said.
- White House reverses, says Obama met uncle and lived with him during law school
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Flights delayed as air pollution hits record in Shanghai
- Microsoft leads disruption of largest infected global PC network