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Austria's AMAG weakens outlook, Q1 core profit slips
May 7, 2013 / 6:11 AM / 4 years ago

Austria's AMAG weakens outlook, Q1 core profit slips

VIENNA, May 7 (Reuters) - 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 (EBITDA) fell 9.1 percent to 31.4 million euros ($41 million) on sales down 3.3 percent to 202.3 million euros. ($1 = 0.7659 euros) (Reporting by Michael Shields; Editing by Angelika Gruber)

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