Interim Report January - June 2001

INTERIM REPORT January - June 2001 * Operating profit, excluding non-comparable items, up 19 percent. * Profit after financial items, excluding non-comparable items, in line with corresponding period 2000. * Earnings per share, excluding non-comparable items, rose 13 percent. * As per August 1, swap agreements entered into the synthetic buyback program covered a total of 3,267,600 shares. First six months 2001 2000 Net sales, SEK M 9,617 6,593 Operating profit, SEK M 619 519 (excluding non-comparable items) Profit after financial items, SEK M 540 546 (excluding non-comparable items) Earnings per share, SEK 3:801) 3:352) (excluding non-comparable items) Earnings per share, SEK 3:051) 4:902) 1)Based on average number of shares excluding own holdings: 97,825,658. 2)Based on average number of shares excluding own holdings: 114,319,946. Group, first half year, 2001 Net sales and earnings. Operating profit, excluding non-comparable items, increased by 19 percent. Consolidated net sales during the period totaled SEK 9,617 M (6,593). For comparable units, net sales were unchanged, excluding currency effects. Approximately 30 percent of consolidated sales during the first half was in USD and the remaining 70 percent in other currencies, primarily EUR. For comparable units, net sales in the USD portion declined by 8 percent, while sales in the EUR segment rose by 3 percent. Excluding non-comparable items, operating profit increased by 19 percent to SEK 619 M (519). Favorable effects of non-comparable items on operating profit during the period amounted to SEK 20 M (243). These related to a gain from the acquisition of rights pertaining to surplus funds from Alecta pension insurance (formerly SPP) in an amount of SEK 20 M, a capital gain of slightly more than SEK 40 M that arose in connection with the divestment of the Trelleborg Vals (roll coverings) product area within Engineered Systems and a restructuring provision of SEK 40 M made in connection with the termination of laminate production in Mexico. Consolidated operating profit amounted to SEK 639 M (762). The consolidated financial net amounted to an expense of SEK 79 M (income: 27). The holding of preference shares in Boliden Ltd was written down at the end of the first quarter. No additional write-down had been made at the end of the second quarter. Profit after financial items amounted to SEK 439 M (789) and excluding non-comparable items amounted to SEK 540 M (546). Earnings per share, excluding non-comparable items, increased from 3:35 to 3:80. Excluding non-comparable items, earnings per share for the period rose to SEK 3.80 (3.35). Earnings per share amounted to SEK 3.05 (4.90). Earnings per share were affected favorably by the transactions implemented in the Group's share buyback program. The table adjoining the Income Statements includes earnings per share based on the volume of shares outstanding at the end of the period to show the full effect of repurchased shares. Balance sheet, cash flow, investments and personnel. Capital employed by the Group amounted to SEK 11,098 M (7,521) at the end of the period. Repurchases of Trelleborg's own shares during the period totaled SEK 308 M. Net financial assets/liabilities amounted to a net liability of SEK 2,975 M (assets: 380). Liquid funds include the holding of preference shares in Boliden Ltd., with a book value of SEK 196 M. The debt/equity ratio at the close of the period was 35.3 percent. The equity/assets ratio was 44.7 percent (59.1). Equity per share (about 97 million shares outstanding) amounted to SEK 85.80 (81.70) at the end of the period. The return on equity amounted to 7.1 percent (12.6). The Group's cash flow from operations during the period was SEK 172 M ( 360) and investments totaled SEK 279 M (231). The weaker cash flow from operations compared with a year earlier was due mainly to the takeover process in connection with the acquisition of LAC, including the installation of a new computer system. The average number of employees in the Group during the period was 16,672 (12,652). ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/02/20010802BIT00070/bit0002.doc The full report http://www.waymaker.net/bitonline/2001/08/02/20010802BIT00070/bit0002.pdf The full report