First quarter 2012: Concentric continues to grow faster than the market with sustained margins and strong cash flow

· Year on year sales growth of 10% to MSEK 610 (554) during Q1 2012 (8% in constant currencies).
· Average sales per working day sustained - increases in the Americas have offset slightly lower activity experienced in Europe and the Rest of the World.
· EBIT and EBIT margin for Q1 2012 was MSEK 82 (58) and 13.4% (10.4) respectively. Adjusting for pension charges and one-time de-merger costs, underlying EBIT and EBIT margin was MSEK 88 (66) and 14.4% (11.9) respectively.
· Earnings after tax were MSEK 51 (31) - EPS of SEK 1.16 (0.70). Adjusting for post-tax impact of pension charges and one-time de-merger costs, EPS was SEK 1.25 (0.83).
· Cash flow from operating activities was strong in Q1 2012, amounting to MSEK 76 (30).
· The Group’s net debt was MSEK 57 (248) at 31 March 2012 - reduction of MSEK 57 derived primarily from operating cash flows.

 

President...