March 4, 2020 / 6:42 AM / a month ago

Andritz 2019 core profit down 13% due to weak car industry demand

VIENNA, March 4 (Reuters) - Engineering group Andritz on Wednesday reported a 13% drop in its 2019 core profit mainly due to weak car industry demand that hit its metals business.

The company, which supplies plants and systems to the auto, pulp and paper, and metal manufacturing industries, said adjusted earnings before interest, tax and amortisation (EBITA) fell to 343 million euros. Excluding potential impacts from the coronavirus outbreak, the group expects a slight increase in sales and a flat EBITA this year, it said. (Reporting by Kirsti Knolle)

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