FACC Q3 core profit down 37% due to high manufacturing costs

FACC AG

26/02/2020 06:52

VIENNA, Feb 26 (Reuters) - Plane parts maker FACC  FACC.VI 
said its third-quarter operating profit dropped 37% due to
higher than expected start-up costs for new assembly lines and a
gloomy market environment.
    FACC reported earnings before interest and tax (EBIT) of
12.6 million euros ($13.7 million) on revenue of 223 million
euros in the three months through end-November. 
    For the 2019 financial year, which was shortened to nine
months as FACC will start to report per calendar year from 2020,
it reported a profit margin of 5.2%, at the lower end of its
forecast. 

($1 = 0.9201 euros)

 (Reporting by Kirsti Knolle, editing by Riham Alkousaa)
 ((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))