October 25, 2017 / 5:30 AM / 2 years ago

BRIEF-Haldex Q3 core profit drops as takeover costs linger

Oct 25 (Reuters) - Haldex AB

* Q3 ‍net sales, SEK 1,081​ mln (1,076)

* Haldex AB Q3 ‍operating income, excluding one-off items, SEK 68 mln (80)​

* Says ‍after currency adjustments, net sales increased by 3%​

* Says ‍assessment of 2017 is that it will be a year during which production volumes could exceed last year’s levels​

* Says ‍but with unexpected and rapid change in demand we are still in a situation where we cannot fully benefit from situation​

* Says ‍our earnings forecast for 2017 has not changed​

* Says ‍our ambition is to continue to ensure good profitability, but due to higher costs from takeover process, operating margin for 2017 is forecast to be slightly lower than in 2016.​

* Says ‍convinced that, as we approach 2018, Haldex will be able to benefit from improved market conditions and current strategic partnerships will result in an even stronger position in market​

* Says ‍upswing in demand during Q3, while positive, also resulted in higher costs​

* Says ‍for example, we added more shifts in some factories and deliveries had to be rescheduled at a higher cost​

* Says ‍quarter continued to be burdened by takeover process, which has diverted focus and resources​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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