Trelleborg Nine-month report 2003
FAVORABLE PROFITS TREND AND IMPROVED OPERATING MARGIN For the first nine months of the year, the Trelleborg Group reports a continued favorable earnings trend. Profit after net financial items, excluding items affecting comparability, rose by 10 percent to SEK 727 M (663). The Group also reports an improved operating margin and favorable operating cash flow. The acquisition of polymer-based precision-seal operations from the Smiths Group of the UK was carried out during the third quarter. This was a strategic acquisition that provides a solid platform for future growth. Trelleborg Sealing Solutions now forms a new business area within Trelleborg with some 6,000 employees and approximately SEK 5.5 billion in annual sales. During the third quarter, net sales amounted to SEK 3,978 M (4,186) and, during the period January to September, to SEK 12,609 M (13,516). For comparable units/exchange rates, net sales during the period rose by 1.4 percent compared with the corresponding period in 2002. Profit after tax rose during the quarter to SEK 165 M (54), and for the first nine months of the year to SEK 482 M (308). Earnings per share rose to SEK 1.95 (0.60) during the quarter and to SEK 5.75 (3.55) for the first nine months. Profit after net financial items increased during the quarter to SEK 251 M (89) and during the first nine months to SEK 751 M (461). The period January to September, excluding items affecting comparability: · Operating profit SEK 800 M (759) · Profit after net financial items SEK 727 M (663) · Profit after tax SEK 458 M (454) · Earnings per share SEK 5.50 (5.25) A new loan of EUR 540 M (SEK 4,800 M) with a five-year term was raised following the close of the quarter. The loan replaces short-term loans raised to finance the acquisition of Polymer Sealing Solutions. Shareholder contacts Bo Jacobsson, Chief Financial Officer Phone: +46 410-670 99, fax: +46 410-137 45 Mobile: +46 70-685 65 60 e-mail: bo.jacobsson@trelleborg.com Mikael Byström, Senior Vice President, Corporate Communications Phone: +46 410-670 37, fax: +46 410-427 63 Mobile: +46 708-55 21 69 e-mail: mikael.bystroem@trelleborg.com Viktoria Bergman, Vice President, Corporate Communications Phone: +46 410-670 94, fax: +46 410-102 61 Mobile: +46 708-47 57 33 e-mail: viktoria.bergman@trelleborg.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/20/20031020BIT00500/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/10/20/20031020BIT00500/wkr0002.pdf The full report http://www.waymaker.net/bitonline/2003/10/20/20031020BIT00500/wkr0003.xls Tables