Austria's FACC lowers earnings forecast due to A380 production stop
14/02/2019 14:28
VIENNA, Feb 14 (Reuters) - Austrian plane parts maker FACC
FACC.VI on Thursday lowered its earnings forecast for 2018/19
after Airbus said it would scrap production of the A380
superjumbo.
"Due to a negative one-off effect resulting from the
impairment of non-amortized cost for engineering services of
approximately 12 million euros ($13.6 million), the earnings
forecast for the financial year 2018/19 now stands at almost 40
million euros," FACC said in a statement.
An FACC spokesman added that the forecast was for earnings
before interest and tax (EBIT) and that the previous EBIT
forecast was 52 million-55 million euros.
($1 = 0.8851 euros)
(Reporting by Kirsti Knolle
Editing by Francois Murphy)
((kirsti.knolle@thomsonreuters.com; +43 1 53112 255; Reuters
Messaging: kirsti.knolle.thomsonreuters.com@reuters.net
www.reuters.com))