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· Net sales: MSEK 522 (620) - down 11% y-o-y, after adjusting for
currency (-5%)

· Operating income: MSEK 89 (88), generating an operating margin of
17.0% (14.2) - comparative for Q2 2015 includes one-off expenses of
MSEK 14 recognised following the acquisition of GKN Pumps

· Earnings after tax: MSEK 63 (62); basic EPS of SEK 1.52 (1.45)
· Strong cash flow generated from operating activities: MSEK 132
(114) driven by reduction in working capital, which represented 3.4%
(3.9) of annual sales

· Group's net debt: MSEK 686 (455); gearing ratio of 112% (49)
following the recognition of further pension remeasurement losses of
MSEK 136 (gains 244), a dividend payout of MSEK 134 (127) and own
share buy-backs of MSEK 47 (42) during the second quarter


· Net sales: MSEK 1,040 (1,243) - down 13% y-o-y, after adjusting
for currency (-3%)

· Operating income: MSEK 174 (205), generating an operating margin
of 16.7% (16.5) - comparative for 2015 includes negative goodwill of
MSEK 15 and one-off expenses of MSEK 14, both associated with the
acquisition of GKN Pumps

· Earnings after tax: MSEK 123 (151); basic EPS of SEK 2.98 (3.55)
· Solid cash flow generated from operating activities: MSEK 196

The group's sales for the second quarter and the first six months were
down year-on-year by 11% and 13% respectively in constant currency.
The primary reason for the fall in sales year-on-year continues to be
the lower US volumes in the Class 8 heavy duty truck market, down by
over 30% in both the second quarter and the first six months,
following a peak in the replacement cycle during the second half of
2015 and a subsequent correction of inventory levels. Conversely, the
European truck market has shown steady year-on-year growth for the
sixth consecutive quarter. Off-highway sectors in both North America
and Europe have remained soft as a result of low commodity pricesand
dealers having to de-stock inventory. Overall, Concentric's sales for
the first six months were broadly in line with published market

Concentric Business Excellence ("CBE") has been key in our ability to
adapt operations to lower demand and thereby defend our margins. All
parts of the business participate in this programme, driving
continuous improvement in customer service levels, employee
motivation and operational excellence.

The successful implementation of this model has continued to
strengthen the consolidated results in spite of the market headwinds,
ensuring that the underlying EBIT margin for both the second quarter
and the first six months improved to 17.0% and 16.7% respectively. In
addition, we have continued to protect and enhance our sales and
engineering resources to support the organic growth objectives that
we set out at our Capital Markets Day back in 2014.

We also continue to explore acquisition opportunities for enabling
technologies that will enhance our solutions for variable
displacement pumps and provide us with an even greater presence
alongside our global customers.

The referendum on the UK's future in the EU resulted in a win for the
leave campaign. At this point it is difficult to determine what the
impact of this decision will be or what the new trade agreements will
look like. However, as a global business with a strong manufacturing
footprint and R&D focus in the UK, Concentric is well positioned to
face the challenges that lay ahead.

Looking forward, the orders received, and expected to be fulfilled
during the third quarter of 2016, were slightly behind the sales
levels of the second quarter of 2016. Our continued focus on business
excellence will help us respond to these challenging market
conditions as we prepare for the positive demand trend for European
medium and heavy duty trucks to flatten out in the second half of
2016. North and South America will remain challenging for both on-
and off-highway sectors. Market indices have been revised during the
second quarter and now suggest that production volumes blended to
Concentric's end-markets and regions will remain soft during the
second half of 2016, down 7% year-on-year for the full year 2016.
Concentric remains well positioned both financially and
operationally, to fully leverage our market opportunities.

For further information, please contact:
David Woolley (President and CEO) or David Bessant (CFO) at Tel: +44
121 445 6545 or E-mail:

This information is information that Concentric AB is obliged to make
public pursuant to the EU Market Abuse Regulation and the Securities
Markets Act. The information was submitted for publication, through
the agency of the contact person set out above, at 08.00 CET on 22
July 2016.


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