UPDATE 2-MAN cuts outlook again as truck demand tumbles

martes 28 de octubre de 2014 09:10 GYT
 

* Q3 oper profit slumps 49 pct to 82 mln euros

* MAN cut truck ops forecast in Sept, sales target in July

* Q3 results "certainly less than satisfactory" - CEO

* MAN must deepen Scania tie-up to cut costs -analyst (Adds analyst comment, background, peer comparison)

By Andreas Cremer

BERLIN, Oct 28 (Reuters) - Germany's MAN SE downgraded its business outlook for the third time in as many months on Tuesday and stepped up efforts to cut costs, as weakening demand for its trucks and falling orders weighed on results.

Third-quarter operating profit slumped by half to 82 million euros ($104 million) and new orders fell a fifth to 3.47 billion euros, with its core European and South American markets continuing to shrink, the Munich-based truckmaker said.

The Volkswagen-owned company said it now expects operating profit to come in slightly above last year's 309 million euros, after previously guiding for that measure to be clearly higher.

Profit was mainly driven by MAN's non-trucks operations such as diesel engines and turbines, although truck and bus sales contributed over three-quarters to group sales of 3.7 billion euros.   Continuación...