Aeroplane parts maker FACC warns on Q2 earnings

FACC AG

08/10/2018 08:20

VIENNA, Oct 8 (Reuters) - Chinese-owned aeroplane parts
maker FACC  FACC.VI  warned that its second-quarter earnings
will fall short of market expectations due to
higher-than-expected costs of developing new cabins, sending its
shares down 10 percent in early trade. 
    The Austria-based group said earnings before interest and
tax (EBIT) reached 8.7 million euros ($10 million) in the three
months through August, down from 11.3 million euros. 
    Market expectations had been around 11 million euros, a
spokesman said. 
    "The development of new cabins has turned out to be more
expensive than expected," a spokesman said. "But this is a
one-off effect. We do not change our full-year forecast."
    FACC, which specialises in engines, lightweight surface
parts and complete cabin interiors, said its 2018/19 operating
profit would grow to between 52 and 55 million euros from 48
million last year.
    FACC expects full-year sales to reach 760 to 770 million
euros, up from 750.7 million in 2017/18. 
    ($1 = 0.8693 euros)

 (Reporting by Kirsti Knolle; editing by Jason Neely)
 ((kirsti.knolle@thomsonreuters.com; +43 1 53112 255; Reuters
Messaging: kirsti.knolle.thomsonreuters.com@reuters.net    
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