Brief: Concentric Q1 Operating Income Rises To SEK 95 Mln

Concentric AB

05/05/2021 07:08

May 5 (Reuters) - Concentric AB  CONIC.ST :
    * CONCENTRIC INTERIM REPORT JANUARY -MARCH 2021
    * Q1 NET SALES:MSEK 432 (456)
    * Q1 OPERATING INCOME:MSEK 95 (87)
    * DEMAND FOR BOTH OUR ENGINE AND HYDRAULIC PRODUCTS
CONTINUES TO
IMPROVE QUARTER-ON-QUARTER
    * A KEY FACTOR AFFECTING OUR REPORTED SALES DURING Q1 WAS
AVAILABILITY OF CRITICAL RAW MATERIALS
    * WE EXPECT OUR INDUSTRY SUPPLY CHAIN TO STABILISE MEETING
NEW
DEMAND DURING Q2, BUT THERE WILL CONTINUE TO BE SOME ISOLATED
DISRUPTION
    * INDIA ALSO REMAINS A CONCERN, RECENT ESCALATION OF
COVID-19
CASES MEANS THERE COULD BE DISRUPTION IN OUR COMPONENT SOURCING
FROM THAT REGION, AND OF COURSE FOR OUR EMPLOYEES IN OUR PUNE
FACILITY
    * ORDERS RECEIVED, AND EXPECTED TO BE FULFILLED DURING Q2 OF
2021,
WERE SLIGHTLY AHEAD OF SALES LEVELS OF Q1 IN 2021
    * WE ALSO EXPECT MAJORITY OF SALES ORDER BACKLOG,
PREDOMINANTLY
RELATING TO OUR NORTH AMERICAN BUSINESSES, WILL BE SUPPLIED TO
OUR CUSTOMERS DURING Q2.

Source text for Eikon:  ID:nWkrcGH26 
Further company coverage:  CONIC.ST 

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