Concentric AB announces preliminary results for the third quarter 2021, in connection with the acquisition of EMP Inc.
Publish Date: 26/10/2021
Concentric AB today announces its operating result for the third quarter 2021, which is in line with the company’s expectations. The Group’s net sales is estimated to be MSEK 515 (324) and the operating income is expected to be MSEK 114 (57), resulting in operating margin 22.2% (17.5). All figures in this press release are preliminary and the final report for the third quarter 2021 will be published on November 3, 2021 at 08:00am CET.
Concentric released simultaneously a press release announcing the acquisition of EMP Inc. for MSEK 1,260 (MUSD 147) in a transformational deal to support Concentric’s e-pump electrification strategy. EMP will be consolidated into Concentric’s accounts, subject to any post-closing conditions, from 29 October 2021. For the 12-month period ending December 2021, EMP forecast revenues of about MSEK 1,095 (MUSD 127) and adjusted EBITDA of about MSEK 147 (MUSD 17).
This information is of the type that Concentric AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.00 CET on 26 October, 2021.
Concentric AB is an innovator in flow control and fluid power, supplying proprietary systems and components to the world’s truck, agricultural machinery, construction equipment and industrial applications end-markets. The company has a global manufacturing presence including in the UK, USA, Germany, Sweden, India, China and Argentina. Concentric’s focus is to develop world class technology with innovative solutions that meet the sustainability needs of our customers. Concentric offers engine products including lubricant, coolant and fuel pumps, hydraulic products encompassing gear pumps and power packs, and finally several key technologies for the fast growing market for electrical and hybrid powertrains. The Group has a turnover of circa MSEK 1,500 and circa 700 employees.