UPDATE 2-VW's MAN swings to net loss as Brazil demand plunges

martes 28 de abril de 2015 07:13 GYT

* Swings to 10 mln euro net loss from 28 mln euro profit

* Q1 operating profit drops to 34 mln euros

* Still sees stable 2015 revenue, operating profit (Rewrites, adds CEO comment on Brazil, updates shares)

By Harro Ten Wolde

FRANKFURT, April 28 (Reuters) - German truckmaker MAN SE swung to a first-quarter net loss, hit by a plunge in demand in Brazil, and said it expected market conditions there to remain tough until at least mid-year.

The Volkswagen-owned company said on Tuesday truck deliveries in Brazil slumped 51 percent in the quarter as the local economy weakening, while orders tumbled 49 percent.

Brazil, along with other Latin American countries, accounted for about a fifth of MAN's revenues last year.

The deteriorating performance poses a challenge to Volkswagen (VW) as it strives to merge MAN with Swedish arm Scania to create a global truck maker to take on industry leader Daimler.

Earlier on Tuesday, Daimler said quarterly earnings at its trucks business rose by more than a half as growth in North America more than offset weakness in Brazil.   Continuación...