RTRS: UPDATE 1-KME 9-mo copper, alloys product output at 452,000 T
MILAN, Nov 12 (Reuters) - KME Group (KME.MI: Quote, Profile, Research, Stock Buzz) said on Wednesday its output of semi-finished copper, copper alloy and special products fell to 452,000 tonnes in the first nine months of 2008, from 486,000 tonnes in the same period a year ago.
Milan-listed KME is one of the world's leading manufacturers of copper and copper alloy products.
KME said in a separate statement that consolidated revenues fell to 2.396 billion euros in the first nine months of the year from 2.686 billion euros a year ago.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was 94.9 million euros, down from 108.9 million euros a year ago.
"European economic conditions are worsening. The widespread weakness of markets and uncertainty about factors that will affect the next few months are getting worse," KME said, adding that another risk was volatile raw material prices.
The company said it had taken action to cope with the tough environment.
"Such actions have allowed us to contain the negative impact of weaker demand and also put conditions in place for a return to profit growth in the future."
KME has 14 plants in Germany, Italy, France, Britain and Spain, and produces about 50 percent of its output in Germany, around 25 percent in Italy and about 20 percent in France.