Germany's commercial vehicles maker Maschinenfabrik Augsburg-Nürnberg or MAN SE (MAGOF.PK) posted first-quarter net loss attributable to shareholders of 340 million euros, as against a profit of 128 million euros a year back.
On a per share basis, quarterly loss from continuing operations was 2.31 euros, versus a 0.87 euros profit in the prior-year period. Excluding the effect of purchase price allocations, loss per share amounted to 2.20 euros, compared with the previous year's 1.00 euros profit.
For the recent quarter, the MAN Group recorded an operating loss of 82 million euros, versus a 254 million euros profit in the previous year. This is chiefly attributable to the Power Engineering business area, which generated an operating loss of 106 million euros.
The firm clocked revenue of 3.55 billion euros in the quarter, down 8% compared with the prior-year figure of 3.845 billion euros.
Looking ahead to 2013, the MAN Group would see revenue on a level with last year and a significant decline in operating profit.
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