•  Net sales: MSEK 515 (491) – up 8% y-o-y, after adjusting for currency (–3%). 
  •  Operating income: MSEK 96 (81), generating an operating margin of 18.7% (16.5).
  •  Earnings after tax: MSEK 72 (59); basic EPS of SEK 1.79 (1.45).
  •  Cash flow generated from operating activities: MSEK 73 (113) is lower mainly due to increase in working capital.
  •  Group’s net debt: MSEK 317 (559); gearing ratio of 41% (81) mainly due to recovery from pension remeasurement losses last year.


  •  Net sales: MSEK 1,601 (1,531) – up 4% y-o-y, after adjusting for currency (+1%).
  •  Operating income: MSEK 296 (255), generating an operating margin of 18.5% (16.6).
  •  Earnings after tax: MSEK 221 (182); basic EPS of SEK 5.48 (4.46).
  •  Cash flow generated from operating activities: MSEK 228 (309) is lower mainly due to increase in working capital. 

President and CEO, David Woolley, comments on Q3 2017 interim report.

Sales development
Group sales for the third quarter were up 8% year-on-year in constant currency, slightly above the latest published market indices. The increased activity levels in the third quarter reflect strong demand across our core regions of North America and Europe. The largest year-on-year improvements for the quarter were achieved in off-highway, primarily the agricultural machinery and construction equipment end-markets. As a result, group sales for the first nine months were up year-on-year by 4% in constant currency.

Operating leverage

The restructuring plans initiated and executed during the second half of 2016 have continued to deliver cost savings in line with expectations during the first nine months of 2017. The Concentric Business Excellence programme (“CBE”) has also supported further improvements to the group’s profitability, such that the operating margin for the third quarter and the first nine months increased to 18.7% (16.5) and 18.5% (16.6) respectively.


Earlier in the year Concentric presented its extensive range of pumps at the International Fluid Power Exhibition, including the Dual Cone Clutch pump, for use in systems requiring intermittent flow and pressure.

We continue to make progress on our organic growth objectives, through our recent technology wins:

  •  Successful roll-out of the LICOS clutch technology on two-speed water pumps in the US truck market with a global OEM;
  •  Orders received from a number of global OEMs/Tier 1 suppliers to produce electric coolant pumps on hybrid applications, with start of production planned in the second half of 2018;
  •  Orders received from global OEMs to produce low noise, compact hydraulic power units and supplementary steering units for their next generation platforms.

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.


Looking forward, the level of orders received in the third quarter indicate that sales in the fourth quarter will be broadly in line with sales in the third quarter, after a seasonal adjustment for the fewer working days in the last quarter of the year. We expect that current demand levels for all end-markets will be sustained for the remainder of the year. Market indices, updated for the favourable developments in the third quarter, now suggest that production volumes blended to Concentric’s end-markets and regions will be up 6% year-on-year for the full year 2017. 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: 

The information in this report is of the type 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 persons set out above, at 08.00 CET on 8 November, 2017. 


About Us

Concentric AB is the former Hydraulics Division of Haldex AB and from June 16 2011 a separate listed company.Concentric is one of the world’s leading pump manufacturers. Our flow dynamics gives customers advanced technology oil pumps, water pumps, fuel pumps and hydraulic systems. We aim to increase fuel economy, reduce emissions and improve engine control through our technical solutions and precision engineering. Concentric’s global manufacturing presence includes factories in Sweden, Germany, the UK, the USA, Argentina, India and China, backed by central support and development functions. This means we sell locally to our global customers. The business fuses Concentric’s strengths as a pumps maker with longstanding expertise in hydraulic products. Our customers make trucks, construction equipment, agricultural machinery and general industrial applications.


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