Brief: Concentric Q4 Operating Income Down At SEK 134 Mln

Concentric AB

04/02/2020 12:11

Feb 4 (Reuters) - Concentric AB  CONIC.ST :
    * CONCENTRIC INTERIM REPORT JANUARY - DECEMBER 2019
    * Q4 NET SALES: MSEK 430 (582) - SALES WERE DOWN -26% Y-O-Y
    * UNDERLYING GROUP SALES FOR Q4 WERE DOWN Y-O-Y BY -24% AND
BY
-11% Y-O-Y FOR FULL YEAR
    * Q4 OPERATING INCOME: MSEK 134 (140)
    * BOARD OF DIRECTORS INTEND TO PROPOSE A TOTAL DIVIDEND OF
SEK
4.50 (4.25) PER SHARE AND TO RENEW CURRENT MANDATE FOR SHARE
BUYBACKS
    * CONCENTRIC'S SALES IN NORTH AMERICA, EUROPE, INDIA AND
SOUTH
AMERICA WERE DOWN YEAR-ON-YEAR IN QUARTER WHILST SALES IN CHINA
WERE UP SIGNIFICANTLY
    * WE EXPECT SALES OF E-PRODUCTS COULD AMOUNT TO AS MUCH AS
20% OF
GROUP SALES BY 2025
    * CONCENTRIC REMAINS WELL POSITIONED BOTH FINANCIALLY AND
OPERATIONALLY, TO FULLY LEVERAGE OUR MARKET OPPORTUNITIES
    * LEVEL OF ORDERS RECEIVED IN Q4 INDICATE THAT SALES IN Q1
2020
WILL BE SLIGHTLY HIGHER THAN SALES IN Q4, EVEN AFTER ADJUSTING
FOR MORE WORKING DAYS IN Q1

Source text for Eikon:  ID:nWkr4y845M 
Further company coverage:  CONIC.ST 

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