Brief: Concentric Q1 Operating Income Rises To SEK 166 Million

Concentric AB

04/05/2022 07:07

May 4 (Reuters) - Concentric AB  CONIC.ST :
    * Q1 NET SALES SEK 934 MILLION VERSUS SEK 432 MILLION YEAR
AGO
    * Q1 OPERATING INCOME SEK 166 MILLION VERSUS SEK 95 MILLION
YEAR
AGO
    * SALES OF HEAVY-DUTY TRUCKS IN CHINA WERE DOWN YEAR-ON-YEAR
BY
-6% AS REGION WAS AFFECTED BY ECONOMIC HEADWINDS
    * WAR IS CAUSING SUPPLY ISSUES WHICH CONTINUE TO INCREASE
OUR
CUSTOMER ORDER BACKLOG
    * RECENTLY PUBLISHED MARKET INDICES SHOW YEAR-ON-YEAR GROWTH
FORECASTS FOR 2022 HAVE HALVED TO +3%
    * ORDERS RECEIVED, AND EXPECTED TO BE FULFILLED DURING Q2
ARE
BROADLY SIMILAR TO REPORTED SALES FOR Q1 OF 2022
    * WE NOW EXPECT MAJORITY OF SALES ORDER BACKLOG WILL BE
SUPPLIED
TO OUR CUSTOMERS OVER REMAINDER OF 2022

Source text for Eikon:  ID:nWkr35dkxv 
Further company coverage:  CONIC.ST 

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