ERJ staff report (LMH)
Trelleborg, Sweden - Trelleborg AB had â€œsatisfactoryâ€ third quarter, influenced by the weaker economy, the company said as it reported a 2-percent drop in sales to SEK 4961 million (Euro 573 million).
Operating profit, excluding TrelleborgVibracoustic, its automotive joint venture, was SEK 528 million, down from SEK 612 million in Q3 2011. The operating margin was 10.6 percent, down from 11.8 percent in Q3 2011.
Profit including TrelleborgVibracoustic was SEK 600 million (SEK 612 million Q3 2011), with an operating margin of 12.1 percent. Trelleborg noted that the JV contributed SEK 72 million in Q3 012.
Operating profit for the part of the company that is now included in the JV was SEK 67 million during the same period in 2011. Net profit was SEK 398 million.
â€œThe sales trend was relatively favourable in Asia and North America, while sales in Europe were generally weak. WE continue to invest to improve our positions in high-growth countries and selected segments. For example, in Brazil, during the quarter, we acquired a printing blankets business and inaugurated a facility for manufacturing products for deep-sea oil and gas extraction,â€ commented ceo Peter Nilsson.
Nilsson added that Trelleborg sees a negative demand trend in â€œseveral of our market segments and geographiesâ€ though the company has implemented measures to adjust operations to the weaker market.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
News release from Trelleborg