Trelleborg publishes interim report, Q2 sales up 2%

ERJ staff report (LMH)

Trelleborg, Sweden - Trelleborg AB has posted second quarter 2012 net sales of SEK 5663 (€665 million), a 2 percent increase from SEK 5542 million in 2011. Organic sales decreased 2 percent.

This result does not include Trelleborg Automotive, which was separated from other business areas prior to the formation of the joint venture with Vibracoustic. If Trelleborg Automotive is included in the figures, then net sales amounted to SEK 7517 million, and operating profit amounted to SEK 813 million.

Second quarter operating profit increased 34 percent to SEK 875 million, from SEK 651 in the second quarter 2011. The operating profit margin was 12.4 percent.

Net profit for the company was rose by 64 percent in Q2 to SEK 712 million and earnings per share increased to SEK 2.60.

In the first half of the year, net sales grew 5 percent to SEK 11 436 million. Operating profit was up 24 percent at SEK 1527 million. The profit margin for the first half of 2012 was 12 percent.

“The margins and earnings in the quarter were Trelleborg's best to date. Sales growth was favourable in North America and in parts of Asia, while the trend in Europe was mixed,” commented Peter Nilsson, Trelleborg President and CEO.

He added, “Organic growth was overall slightly negative, which is due to lower demand in parts of Europe. We continue to invest in emerging markets like Brazil, India and China to enhance our geographic balance, which to some extent continues to burden the result and increases the investment level during the quarter.”

He concluded by saying the market outlook gives cause for caution. “We follow of course the developments closely and are well prepared to manage uncertainties.”

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Press release from Trelleborg