Concentric AB (FRA:2DN)
€ 19.84 1.46 (7.94%) Market Cap: 745.77 Mil Enterprise Value: 794.44 Mil PE Ratio: 30.20 PB Ratio: 3.87 GF Score: 83/100
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Q2 2024 Concentric AB Earnings Call Transcript

Jul 31, 2024 / 08:00AM GMT
Release Date Price: €14.16 (-2.21%)
Martin Kunz
Concentric AB - President, Chief Executive Officer

Good morning, everybody. A very warm welcome to Concentric's Q2 interim report. Today, our session is only virtual, so no physical presence in Stockholm. And let's move on straight into the report and move to the slide number 2.

If we look at the quarter as a whole, our net sales have been reduced by 13% to SEK955 million. And there is minimal movement on foreign exchange in the quarter. Our sales of electric product remained strong with SEK224 million this quarter, representing 23% of the group sales.

As you have seen from our press release a couple of weeks ago, we have made a provision for a customer warranty claim for an amount of SEK100 million. The operating margin before items affecting comparability was 13%. And our cash flow from operations was SEK103 million, significant improvement over the first quarter with a cash conversion of 137%. Our book-to-bill ratio in the quarter has been at 89%. And our customer demand has further reduced during the quarter, especially for hydraulics products versus the guidance we

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