November 5, 2019 / 6:29 AM / 17 days ago

Oerlikon Q3 results miss estimates amid tough market conditions

Nov 5 (Reuters) - Swiss industrial group Oerlikon reported its third-quarter revenue and core profit slightly below analysts' expectations on Tuesday, citing continued market challenges.

Oerlikon's third-quarter revenue declined to 633 million euros ($704.15 million), while its earnings before interest, taxes, amortisation and depreciation (EBITDA) dropped to 84 million euros, the Swiss group said.

Analysts in a company-compiled consensus had expected Oerlikon's revenue and EBITDA to come in at 640 million euros and 86 million euros, respectively.

Third-quarter operating profitability of Oerlikon's surface solutions segment, which was the main reason for the company's estimate miss in the second quarter, was affected by investment costs, but its revenue was in line with consensus, the company said.

$1 = 0.8990 euros Reporting by Zuzanna Szymanska in Gdansk, Editing by Sherry Jacob-Phillips

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