Welcome to our dedicated page for CONCENTRIC AB ORD news (Ticker: CCNTF), a resource for investors and traders seeking the latest updates and insights on CONCENTRIC AB ORD stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CONCENTRIC AB ORD's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CONCENTRIC AB ORD's position in the market.
The board of Concentric AB has called an annual general meeting on April 18, 2023, in Stockholm. Shareholders must be recorded in the share register by April 6, 2023, and notify their intention to attend by April 12, 2023. Proposed agenda items include approval of the annual report, dividend of SEK 4.00 per share, and election of board members. The board recommends KPMG AB as auditor until 2024. Additionally, it proposes a long-term incentive program (LTI 2023) for executives, linked to performance metrics like earnings per share and return on capital. A directed issue of 105,000 warrants for employee incentives is also on the agenda.
Engineered Machined Products (EMP), a Concentric AB company, has secured a contract for machined components in the U.S. with a global customer focused on energy-efficient technology. This contract is projected to generate one million USD in annual sales and will be used in mobile machinery for off-highway applications such as construction and agriculture.
President and CEO Martin Kunz highlighted EMP's trusted machining capability and the company's commitment to growth since acquiring EMP in October 2021.
Concentric AB reported preliminary results for Q3 2021, showing net sales of MSEK 515, up from MSEK 324, and operating income of MSEK 114, significantly higher than last year's MSEK 57. This results in an operating margin of 22.2%, compared to 17.5% last year. Additionally, Concentric announced the acquisition of EMP Inc. for MSEK 1,260, aimed at enhancing its e-pump electrification strategy. EMP is projected to contribute revenues of MSEK 1,095 and adjusted EBITDA of MSEK 147 for the year ending December 2021.
Concentric AB has secured a long-term agreement with a global truck and bus OEM to supply electric coolant pumps for their heavy-duty electric trucks. This contract, which builds upon existing partnerships for hybrid and battery electric buses, is expected to generate revenues of approximately MSEK 200 over the next five years. The electric coolant pumps boast a robust design, long service life exceeding 50,000 hours, and integrated diagnostics. David Woolley, President and CEO, emphasized the contract's importance, reflecting customer confidence in Concentric's technology.
Concentric AB has secured a new development contract for electric coolant pumps aimed at fuel cell electric vehicles (FCEVs) from a global truck and bus OEM. These pumps will be utilized in a flagship bus application, contributing to the zero CO2 emissions of FCEVs compared to traditional diesel buses. The electric coolant pumps feature a robust design, a service life of over 50,000 hours, and integrated diagnostics. CEO David Woolley highlights this agreement as a step towards sustainability in support of zero-emission vehicle development.
Alfdex AB, a joint venture between Alfa Laval and Concentric, has secured a contract to provide crankcase gas separators for a new engine platform with a major truck manufacturer in China. This development is prompted by the China-6 emission regulations effective from July 1, 2021, aimed at improving air quality by replacing five million heavy-duty trucks. Estimated revenues from this contract exceed MSEK 150 over five years. Alfdex's separators are leading solutions for meeting stringent emission standards and are already widely used by OEMs in North America and Europe.
Concentric AB has secured a significant contract with a North American OEM supplier for its Electro-Hydraulic Steering (EHS) system, specifically designed for medium-duty electric trucks. The contract is expected to generate sales revenues of MSEK 185 over five years, commencing production in 2021. The growing demand for electric commercial vehicles, driven by local regulations, underscores the importance of this nomination. Concentric's EHS system is recognized for its reliability and efficiency, making it a preferred choice among OEMs transitioning to electric platforms.
Concentric AB has published its Annual Report for 2020. The report provides insights into the company's financial performance and key metrics for the year. Investors can access the complete document on the official website.
For further inquiries, contact Lennart Lindell at +46 (0)766 104 004.
The board of Concentric AB has announced an annual general meeting scheduled for April 22, 2021, to discuss various proposals including the approval of a SEK 3.50 dividend per share, totaling SEK 132.5 million. Shareholders will vote via postal voting due to COVID-19 restrictions, and questions must be submitted in advance. Key agenda items include the election of board members, auditor appointments, and the approval of a long-term incentive program. The meeting's outcomes will be published on April 22, 2021.
Concentric AB has secured a pivotal contract with a major US OEM to supply its EHS pump for new electric refuse trucks. Production is set to commence in 2021, with anticipated sales revenues of MSEK 16 over five years. This contract aligns with increasing demand for electric vehicles driven by local regulations aimed at reducing CO2 emissions. The EHS system promises significant energy savings of up to 50% and operates effectively in electrified vehicles. CEO David Woolley highlighted this as a key development in electrifying commercial vehicles, presenting long-term growth opportunities.
FAQ
What is the market cap of CONCENTRIC AB ORD (CCNTF)?
