Brief: Concentric Q3 Operating Income Falls To SEK 57 Mln

Concentric AB

04/11/2020 07:13

Nov 4 (Reuters) - Concentric AB  CONIC.ST :
    * Q3 NET SALES SEK 324 MILLION VERSUS SEK 463 MILLION YEAR
AGO
    * Q3 OPERATING INCOME SEK 57 MILLION VERSUS SEK 91 MILLION
YEAR
AGO
    * DEMAND FOR OUR ENGINE PRODUCTS HAS IMPROVED THROUGHOUT Q3
AND WE
EXPECT THIS TO CONTINUE DURING FOURTH
    * EXPECT DEMAND FOR HYDRAULIC PRODUCTS WILL NOW START TO
IMPROVE
DURING COMING QUARTER IN BOTH NORTH AMERICAN & EUROPEAN MARKETS
    * LEVEL OF ORDERS RECEIVED IN Q3 INDICATE THAT SALES IN Q4
2020
WILL BE SLIGHTLY HIGHER, AFTER A SEASONAL ADJUSTMENT FOR MORE
WORKING DAY
    * MARKET INDICES BLENDED TO CO'S MIX OF END MARKET
APPLICATIONS
AND LOCATIONS SUGGEST MARKET FOR FY TO BE DOWN -23% AND INDICATE
SOME RECOVERY DURING Q4
    * FINANCIAL POSITION OF CONCENTRIC REMAINS STRONG, BOTH
CAPITAL
STRUCTURE AND LIQUIDITY

Source text for Eikon:  ID:nWkr3qMFp3 
Further company coverage:  CONIC.ST 

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