Concentric AB announces preliminary results for the third quarter 2021, in connection with the acquisition of EMP Inc.
SKÅNES FAGERHULT, Sweden, Oct. 26, 2021 /PRNewswire/ -- 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
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.
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SOURCE Concentric AB
