Aleo – which is majority-owned by engineering giant Bosch – saw earnings before interest and tax (Ebit) fall to €7.4m ($10m) from €40.3m at the same stage in 2010.
Revenues were 16% lower at €344.6m and Aleo’s Ebit margin dropped to 2.2% from 9.8%.
The company says it now expects its full-year 2011 revenues to come in at €440m – down from the €515m it forecast at the half-year stage in August – and “earnings to be negative”.
The
