Edition:
United Kingdom

Haldex Q2 Operating Income Excluding Items Down At SEK 91 Million


Thursday, 18 Jul 2019 

July 18 (Reuters) - Haldex Ab ::HALDEX INTERIM REPORT, JANUARY - JUNE 2019: STABLE QUARTER ON A WEAK MARKET.NET SALES FOR Q2 TOTALLED SEK 1,389 (1,372) M.OPERATING INCOME EXCLUDING ONE-OFF ITEMS AMOUNTED TO SEK 91 (102) M FOR Q2.INCOME AFTER TAX TOTALLED SEK 49 (61) M FOR Q2.IN Q2 NORTH AMERICAN MARKET CONTINUED TO SHOW STRONG GROWTH, EVEN IF THERE ARE INCREASINGLY EVIDENT SIGNS OF A SLOW-DOWN - CEO.LONG WINTER HAD A NEGATIVE IMPACT ON AFTERMARKET IN Q1, BUT WE RECOVERED IN Q2 WHAT WE HAD LOST - CEO.EUROPE SHOWED SIGNS OF A SLOW-DOWN AT BEGINNING OF YEAR, AND DOWNTURN IN TRAILER WAS EVIDENT IN Q2 - CEO.MARKET IN EUROPE IS EXPECTED TO DECREASE SLIGHTLY COMPARED TO 2018. CHINA HAS A WEAKER MARKET IN 2019.OUR OUTLOOK FOR 2019 HAS NOT CHANGED.HALDEX CAN PARTLY WITHSTAND A DOWNTURN GIVEN THAT AUTOMATIC BRAKE ADJUSTERS ARE CURRENTLY REQUIRED BY LAW ON HEAVY VEHICLES.WE MAKE ASSESSMENT THAT SALES WILL INCREASE IN NORTH AMERICA, WHICH WILL BE OFFSET BY UNCHANGED OR LOWER SALES IN OTHER REGIONS.AS A WHOLE, SALES IN 2019 ARE EXPECTED TO BE IN LINE WITH 2018.MAKES ASSESSMENT THAT OPERATING MARGIN IN 2019, INCLUDING INCREASED INVESTMENTS IN NEW TECHNOLOGY, WILL BE IN LINE WITH OR HIGHER THAN OPERATING MARGIN EXCLUDING ONE-OFF ITEMS IN 2018. 

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47.45
0.65 +1.39%
16 Aug 2019