Brief: Concentric Q2 Operating Income Falls To SEK 121 Million

Concentric AB

24/07/2019 07:06

July 24 (Reuters) - Concentric AB  CONIC.ST :
    * CONCENTRIC INTERIM REPORT JANUARY - JUNE 2019
    * Q2 NET SALES SEK 553 MILLION VERSUS SEK 603 MILLION YEAR
AGO
    * Q2 OPERATING INCOME SEK 121 MILLION VERSUS SEK 126 MILLION
YEAR
AGO
    * UNDERLYING SALES ORDER BOOK REMAINS AT STRONG LEVELS, BUT
ORDERS
RECEIVED IN Q2 INDICATE THAT SALES IN Q3 2019 WILL BE SLIGHTLY
LOWER THAN PREVIOUS QUARTER AFTER A SEASONAL WORKING DAY
ADJUSTMENT
    * DURING Q2 FULL YEAR FORECAST PUBLISHED MARKET INDICES WERE
REVISED AND NOW SUGGEST THAT PRODUCTION VOLUMES BLENDED FOR
CONCENTRIC'S END-MARKETS AND REGIONS WILL REMAIN SOFT DURING
SECOND HALF OF YEAR
    * FULL YEAR MARKET FORECAST FOR 2019 HAS THEREFORE BEEN
REDUCED
FROM 4% TO 2%
    * OUR EXPECTATION REMAINS THAT DEMAND FOR MEDIUM- AND HEAVY
DUTY
TRUCKS, PARTICULARLY IN NORTH AMERICA COULD WEAKEN TOWARDS END
OF 2019

Source text for Eikon:  ID:nWkrbzy1jX 
Further company coverage:  CONIC.ST 

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