Andritz misses expectations, confirms forecast

martes 6 de mayo de 2014 01:48 GYT
 

VIENNA May 6 (Reuters) - Austrian machine builder Andritz AG said on Tuesday low sales generation and cost overruns continued to hurt its earnings in the first quarter, which missed market expectations.

Adjusted earnings before interest, tax and amortisation (EBITA) more than tripled to 49 million euros ($68 million) from the year-ago period when problems at a pulp mill in Uruguay forced Andritz to issue a profit warning.

The results fell short of the average estimate of 53 million euros in a Reuters poll.

Andritz reiterated it expected a significant improvement in net profit and a slight rise in sales for 2014.

($1 = 0.7205 euros) (Reporting by Georgina Prodhan; Editing by Matt Driskill)