Interim report July - September 2009
“Demand in many segments remained weak during the quarter. Despite this, the Group’s operating margin improved, which demonstrates that the measures we have taken to adapt capacity have yielded effects. Effective management of working capital and a sequential improvement in earnings meant that we continued to generate a strong cash flow. As we look ahead, there remains a sense of uncertainty regarding the demand trend. With a focus on our customers, we will continue to take measures to build an efficient and flexible structure for the long term” says President and CEO Peter Nilsson.
Net sales in the third quarter of 2009 totaled SEK 6,559 M (7,527). Operating profit increased to SEK 371 M (263). Items affecting comparability amounted to an expense of SEK 39 M (expense: 187). Operating cash flow rose to SEK 856 M (634), primarily as a result of a lower level of investment and a reduction in tied-up working capital. Free cash flow increased to SEK 496 M (370). Net debt to equity improved further, to 74 percent (114). July - September 2009, in parenthesis the same period 2008 Net sales 6,559 (7,527) Operating profit 371 (263) Profit for the period 216 (102) Earnings per share, SEK 1) 0.80 (0.50) Operating profit excl. items affecting comparability 410 (450) Earnings per share, SEK excl. items affecting comparability 1) 0.90 (1.15) January – September 2009, in parenthesis the same period 2008 Net sales 20,303 (23,920) Operating profit 576 (1,174) Profit for the period 327 (584) Earnings per share, SEK 1) 1.40 (2.90) Operating profit excl. items affecting comparability 735 (1,806) Earnings per share, SEK excl. items affecting comparability 1) 1.90 (5.10) 1) Share of net 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 according to guidelines in IAS 33. This calculation method has been applied throughout this report in all key figures that include the number of shares. Market outlook for the fourth quarter of 2009. Overall, demand is expected to remain in line with the third quarter of 2009. Invitation to telephone conference on October 29 at 9:30 a.m. A presentation and telephone conference will be held on October 29 at 9:30 a.m. The presentation will be held at Operaterrassen in Stockholm. To participate in the telephone conference, call +46 (0)8-5051 3793 or +44 20 7806 1967 and state the code 1005943 or 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 Capital Markets Day in Stockholm December 3, 2009 Interim report October-December 2009 February 16, 2010 Interim report January-March 2010 April 20, 2010 Annual General Meeting in Trelleborg April 20, 2010, 5:00 p.m.