Consumables

Trelleborg: Year-end Report 2010

Tuesday 15. February 2011 - "Demand increased significantly during 2010. Sales for continuing operations increased to slightly more than SEK 27 billion and organic growth was 17 percent. T

he EBITDA margin for the full year was 12.1 percent, which means that this financial target was achieved. The distinct increase compared with last year is a result of increased volumes and a more efficient structure. During and after the fourth quarter 2010 three bolt-on acquisitions and two divestments were realized. This is part of the accelerating efforts of strategically focus the operations on selected and profitable segments. In line with this strategy Trelleborg in January 2011, signed a Letter of Intent with Freudenberg to form a joint venture for operations in antivibration for light and heavy vehicles. The ambition is to create a global leader and the new company is expected to generate sales of SEK 12 billion, with 8,100 employees in 17 countries. Cash flow remained strong during the year. We improved the capital structure and propose an increased dividend for 2010″ says CEO Peter Nilsson
Net sales in the quarter, including discontinued operations, increased to SEK 7,045 M (6,755) and to SEK 28,778 M (27,059) for the full year.
Operating profit for the quarter, including discontinued operations, increased to SEK 423 M (197) and to SEK 1,952 M (773) for the full year.
Continuing operations:
Net sales in the quarter increased to SEK 6,852 M (6,185). Net sales for the full year increased to SEK 27,196 M (24,769).
Operating profit in the quarter increased to SEK 400 M (166). Items affecting comparability amounted to an expense of SEK 118 M (expense: 218). Operating profit for the full year increased to SEK 2,036 M (734). Items affecting comparability amounted to an expense of SEK 250 M (expense: 354).
Operating cash flow in the quarter increased to SEK 929 M (845). Operating cash flow for the full year was SEK 2,190 M (3,040).
SEK M Oct-Dec Oct-Dec Jan-Dec Jan-Dec
2010 2009 2010 2009
Continuing operations
Net sales 6,852 6,185 27,196 24,769
Operating profit 400 166 2,036 734
Profit for the period 234 19 1,284 403
Earnings per share, SEK 0.85 0.05 4.65 1.65
Operating profit, excl.
items affecting comparability 518 384 2,286 1,088
Earnings per share, SEK, excl.
items affecting comparability 1.15 0.65 5.35
2.70
Market outlook for the first quarter of 2011. Overall, demand is expected to remain in line with or be slightly better than the fourth quarter of 2010, adjusted for seasonal variations.
Proposed dividend. The Board of Directors and the President propose a cash dividend of SEK 1.75 per share (0.50).