Brief: Engcon Says Signs Of Recovery In Parts Of European Market

Engcon AB

20/07/2023 07:34

July 20 (Reuters) - Engcon AB  ENGCONb.ST :
    * Q2 ORDER INTAKE DECLINED -34 PER CENT TO SEK 341 MILLION
(519);
ORGANIC ORDER GROWTH WAS -38 PER CENT.
    * Q2 NET SALES DECLINED -5 PER CENT TO SEK 508 MILLION
(534);
ORGANIC NET SALES GROWTH WAS -10 PER CENT.
    * Q2 OPERATING PROFIT INCREASED 5 PER CENT TO SEK 104
MILLION (99)
AND OPERATING MARGIN WAS 20.5 PER CENT (18.5).
    * UNCERTAIN MACROECONOMIC TIME, HIGH INTEREST RATES,
INFLATION AND
GENERAL TURBULENCE IMPACTING WILLINGNESS TO INVEST OF OUR END
CUSTOMERS
    * WE ARE EVEN MORE DEPENDENT OF DEVELOPMENTS IN CONSTRUCTION
AND
CIVIL ENGINEERING INDUSTRY AND EXCAVATOR SALES
    * DEALERS IN NORDIC REGION AND EUROPE BUILT UP INVENTORIES
IN
PREVIOUS QUARTERS, WHICH IS FURTHER IMPACTING ORDER INTAKE AND
SALES
    * IT IS POSITIVE THAT CERTAIN PARTS OF EUROPEAN MARKET ARE
SHOWING
CLEAR SIGNS OF RECOVERY.

Source text for Eikon:  ID:nMFNbdR61P 
Further company coverage:  ENGCONb.ST 

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