Brief: Concentric Q3 Operating Income Falls To SEK 91 Mln

Concentric AB

06/11/2019 07:07

Nov 6 (Reuters) - Concentric AB  CONIC.ST :
    * CONCENTRIC INTERIM REPORT JANUARY - SEPTEMBER 2019
    * Q3 NET SALES SEK 463 MILLION VERSUS SEK 622 MILLION YEAR
AGO
    * Q3 OPERATING INCOME SEK 91 MILLION VERSUS SEK 142 MILLION
YEAR
AGO
    * Q3 EARNINGS AFTER TAX: MSEK 64 (108)
    * GROUP'S UNDERLYING SALES WERE AFFECTED BY OVERALL MARKET
SLOWDOWN IN Q3
    * MARKET INDICES REPORTED A MODEST INCREASE IN DEMAND IN Q3
FOR
MEDIUM- AND HEAVY-DUTY TRUCKS IN NORTH AMERICA WHILST DEMAND FOR
TRUCKS IN EUROPE DECLINED
    * SALES TO ALL END-MARKETS WERE LOWER IN Q3 YEAR-ON-YEAR AND
CONSTRUCTION EQUIPMENT SECTOR WAS ESPECIALLY WEAK IN BOTH NORTH
AMERICA AND EUROPE
    * LOOKING FORWARD, LEVEL OF ORDERS RECEIVED IN Q3 INDICATE
THAT
SALES IN Q4 2019 WILL BE SIMILAR TO SALES IN Q3
    * PRODUCTION VOLUMES BLENDED FOR CONCENTRIC'S END-MARKETS
AND
REGIONS WILL REMAIN FLAT FOR FULL YEAR AND MARKET FORECAST FOR
FULL YEAR HAS THEREFORE BEEN LOWERED FROM +2% TO 0%
    * WE CONTINUE TO EXPECT THAT DEMAND FOR MEDIUM- AND
HEAVY-DUTY
TRUCKS COULD WEAKEN STILL FURTHER DURING COMING QUARTER

Source text for Eikon:  ID:nWkr8kBkNC 
Further company coverage:  CONIC.ST 

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