UPDATE 2-MAN cuts 2014 sales outlook on Latin American weakness

miércoles 30 de julio de 2014 05:56 GYT
 

* Sees 2014 sales "noticeably" below year-ago results

* Q2 sales drop 12 pct, Latin America down 17 pct

* Reaffirms 2014 profit, margin outlook

* Little share price reaction (Adds background, peer comparison and shares)

By Andreas Cremer

BERLIN, July 30 (Reuters) - Germany's MAN SE cut its full-year sales outlook as weakening truck demand and falling orders in major South American markets weigh on business.

Second-quarter group sales plunged 12 percent to 3.6 billion euros ($4.8 billion), with revenue at its Latin American truck division down 17 percent due to slowing growth in Brazil and the weaker real currency, MAN said on Wednesday.

The Volkswagen-owned company, market leader in the region's biggest economy for trucks weighing 5 metric tons or more, is bracing for a "substantial" drop in Latin American profit after quarterly orders plunged 17 percent.

MAN, which also makes diesel engines and turbines, said it now expects group sales to fall noticeably below the 15.7 billion euros posted last year. Three months ago, MAN had guided for sales to dip only slightly below 2013 results.   Continuación...