Brief: Concentric Q2 Oper Income Down At SEK 28 Mln

Concentric AB

23/07/2020 07:05

July 23 (Reuters) - Concentric AB  CONIC.ST :
    * CONCENTRIC INTERIM REPORT JANUARY - JUNE 2020
    * Q2 NET SALES SEK 342 MILLION VERSUS SEK 553 MILLION YEAR
AGO
    * Q2 OPERATING INCOME SEK 28 MILLION VERSUS SEK 121 MILLION
YEAR
AGO
    * GROUP'S REPORTED SALES CONTINUED TO BE AFFECTED BY OVERALL
MARKET SLOWDOWN AND EFFECTS OF GLOBAL PANDEMIC COVID-19
    * WE EXPECT DEMAND FOR MEDIUM- AND HEAVY-DUTY TRUCKS IN
EUROPE TO
RECOVER AHEAD OF NORTH AMERICA BUT DEMAND FROM OFF-HIGHWAY
SECTORS, AGRICULTURAL MACHINERY AND CONSTRUCTION EQUIPMENT, WILL
REMAIN SUPPRESSED.
    * DEMAND FOR OUR ENGINE PRODUCTS HAS IMPROVED SLIGHTLY
THROUGH Q2
AND WE EXPECT THIS UNCERTAINTY TO LAST FOR REST OF YEAR
    * DEMAND FOR HYDRAULIC PRODUCTS HAS WEAKENED PARTICULARLY IN
NORTH
AMERICAN MARKET, AND LEVEL OF ORDERS RECEIVED IN Q2 INDICATE
THAT SALES IN Q3 2020 WILL BE SIMILAR TO SALES IN Q2
    * FINANCIAL POSITION OF CONCENTRIC REMAINS STRONG, BOTH
CAPITAL
STRUCTURE AND LIQUIDITY AND CONCENTRIC REMAINS COMMITTED TO
MEETING OUR CUSTOMERS' REQUIREMENTS.

Source text for Eikon:  ID:nWkr8zyVk4 
Further company coverage:  CONIC.ST 

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