Interim report April - June 2009
“In a difficult market situation, we have successfully managed to generate a continued strong cash flow and improved our operating margin compared with the first quarter of 2009. The effects of our capacity adjustments are gradually increasing. The sense of uncertainty regarding future demand remains great. We continue to take measures focused on establishing a long-term efficient and flexible structure. We continued improving our market positions during the quarter. A sound financial position, strengthened by the rights issue, provides us with excellent opportunities to work proactively in order to further strengthen our positions” says President and CEO Peter Nilsson.
Net sales in the second quarter of 2009 totaled SEK 6,867 M (8,326). Operating profit amounted to SEK 159 M (337). Items affecting comparability amounted to an expense of SEK 103 M (expense: 397). Operating cash flow totaled SEK 967 M (746) and was impacted positively by lower tied-up working capital and a lower investment level. Free cash flow amounted to SEK 613 M (463). The completion of a rights issue totaling SEK 2,169 M strengthened Trelleborg’s financial position and created the necessary conditions to further improve the Group’s market positions. Net debt to equity improved to 79 percent. April - June 2009, in parenthesis the same period 2008 Net sales 6,867 (8,326) Operating profit 159 (337) Profit for the period 46 (173) Earnings per share, SEK 1) 0.20 (0.85) Operating profit excl. items affecting comparability 262 (734) Earnings per share, SEK excl. items affecting comparability 1) 0.55 (2.20) January – June 2009, in parenthesis the same period 2008 Net sales 13,744 (16,393) Operating profit 205 (911) Profit for the period 111 (482) Earnings per share, SEK 1) 0.50 (2.40) Operating profit excl. items affecting comparability 325 (1,356) Earnings per share, SEK excl. items affecting comparability 1) 0.95 (3.95) 1) Profit for the period attributable to equity holders of the parent divided by the average number of shares. Following the rights issue, the average number of shares was adjusted taking into account a bonus issue component. Market outlook for the third quarter of 2009. Overall, demand is expected to remain in line with the second quarter of 2009. Invitation to telephone conference on July 24 at 9:30 CET. A telephone conference will be held on July 24 at 9:30 CET. Call +46 (0)8 – 5052 0270 or +44 20 8817 9301 and state the password “Trelleborg.” The conference will also be broadcast in real time on the Internet. Visit our website at www.trelleborg.com/en/Investors/Presentations for internet link and presentation materials. Calendar Interim report July-September 2009 October 29, 2009 Capital Markets Day in Stockholm December 3, 2009 Interim report October-December 2009 February 16, 2010