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Sogefi reports net loss for 9-months, CEO steps down

MILAN, Oct 21 (Reuters) - Italian car parts maker Sogefi on Tuesday reported a net loss for the first nine months of the year, hit by weakness in South America and restructuring costs, and said Chief Executive Guglielmo Fiocchi would leave the company.

The group, one of the world's leading producers of engine systems and suspension components, reported a net loss for the first nine months of the year of 5.8 million euros ($7.4 million), down from a net profit of 23.8 million euros in the comparison period.

Revenues were stable at around 1 billion euros, it added.

The company, owned by Italy's De Benedetti family through its CIR holding, said despite weakness in South America, growth continued in Asia. Markets were also growing in North America, albeit at a slower rate than in recent past, it added.

"Operating profitability in the last quarter is forecast to be in line with that of the third quarter as it will be influenced by the same factors in South America and Europe," the company said in a statement. (1 US dollar = 0.7853 euro) (Reporting by Agnieszka Flak; editing by James Mackenzie)