ERJ staff report (TP)
Trelleborg, Sweden – Trelleborg reported its net sales for the second quarter of 2014 increased by 2 percent and totalled SEK 5,725 million (€619.1m).
Operating profit, excluding the participation in TrelleborgVibracoustic and items affecting comparability, rose by 11 percent to SEK 802 million, equivalent to an operating margin of 14.0 percent, the group’s highest ever for a single quarter.
Operating profit in the quarter for TrelleborgVibracoustic, excluding items affecting comparability, rose 26 percent to €39 million. This corresponded to an operating margin of 8.9 percent, the highest to date for the company for a single quarter.
Peter Nilsson, president and CEO, said: “Sales performance was favourable in all geographic markets except for Europe.
“The negative trend in Europe was primarily due to a weaker OEM market for agricultural tires, delays of deliveries of projects and ongoing repositioning to more value-creating niches in certain product segments.”
The market outlook for the third quarter was expected to be similar to the second quarter.
“As yet, we have not received any indication of a general improvement in the demand situation, and we believe that third-quarter demand for the Group as a whole will be on par with the second quarter of the year,” said Nilsson.
“We are continuing to carefully monitor the economic developments and are maintaining high preparedness to address fluctuating market conditions.”