Beru Makes Full-Year Target Adjustment

German automotive supplier Beru reports that, as a result of what it refers to as the current “difficult” situation in the motor industry, the company now assumes it will achieve operating profit (EBIT) of between 44 million and 47 million euros in full-year 2007. This represents a slight downward correction of the company’s most recently published earnings guidance. The reduction is attributed to the ongoing decrease in unit sales in the high-margin aftermarket business. Furthermore, in response to demands from vehicle manufacturers, Beru has been forced to grant price reductions it says exceed the effects of its own internal cost-cutting activities.

Beru’s executive board maintains its goal of increasing sales revenues by a low single-digit percentage this year.