Interim report July - September 2010
“Demand in the third quarter of 2010 was favorable. Organic sales rose 15 percent compared with the third quarter of 2009.
In terms of earnings and margins, the third quarter of 2010 was strong; the strongest ever third quarter for the Trelleborg Group, within existing structure. The EBITDA margin rose to 12.5 percent compared with 10.8 percent in the third quarter of 2009. The EBITDA margin for the most recent twelve-month period for the first time reached our financial target of 12 percent.
The earnings and margin trend demonstrates that we continue to derive beneficial effect from the underlying improved structure.
We are also continuing our efforts to increase our presence in selected, profitable segments and in expanding geographical markets”, says President and CEO Peter Nilsson.
Net sales increased to SEK 6,865 M (6,230).
Operating profit rose to SEK 545 M (381).
Items affecting comparability amounted to an expense of SEK 55 M (expense: 31).
Earnings per share increased to SEK 1.30 (0.90).
Operating cash flow was SEK 439 M (936).
Free cash flow was SEK 252 M (607).
| July - September 2010, in parenthesis the same period 2009 | ||
| SEK M | ||
| Continuing operations | ||
| Net sales | 6,865 | (6,230) |
| Operating profit | 545 | (381) |
| Profit for the period | 355 | (235) |
| Earnings per share, SEK | 1.30 | (0.90) |
| Operating profit excl. | ||
| items affecting comparability | 600 | (412) |
| Earnings per share, SEK excl. | ||
| items affecting comparability | 1.45 | (1.00) |
| January – September 2010, in parenthesis the same period 2009 | ||
| SEK M | ||
| Continuing operations | ||
| Net sales | 20,969 | (19,288) |
| Operating profit | 1,698 | (650) |
| Profit for the period | 1,094 | (446) |
| Earnings per share, SEK | 4.00 | (1.90) |
| Operating profit excl. | ||
| items affecting comparability | 1,830 | (786) |
| Earnings per share, SEK excl. | ||
| items affecting comparability | 4.35 | (2.35) |
Market outlook for the fourth quarter of 2010.
Overall, demand is expected to remain in line with or slightly better than the third quarter of 2010, adjusted for seasonal variations.
Invitation to a presentation and telephone conference on October 28 at 9:30 a.m.
A telephone conference will be held on October 28 at 9:30 a.m. The presentation will be held at Operaterrassen in Stockholm, Sweden. To participate in the telephone conference, call +46 (0)8-5051 3791 or +44 20 7806 1966 and state the code 9393584 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 (Stockholm) November 24
Year-end Report 2010 February 15, 2011
Interim report January-March 2011 April 20, 2011
Annual General Meeting (Trelleborg) April 20, 2011
For further information, please contact:
Investors/analysts
Conny Torstensson, VP Investor Relations
Tel: +46 (0)410 – 670 70
Mobile: +46 (0)734 – 08 70 70.
E-mail: conny.torstensson@trelleborg.com
Media
Mikael Sjöblom, VP Media Relations
Tel: +46 (0)410 – 670 15
Mobile: +46 (0)733 – 74 70 15
E-mail: mikael.sjoblom@trelleborg.com
This report contains forward-looking statements that are based on the current expectations of the management of Trelleborg. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors.
This is information of the type that Trelleborg AB (publ) is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was issued for publication on Thursday, October 28, 2010 at 7:45 a.m.