Trelleborg Group’s Annual Report for 2008 published
The Trelleborg Annual Report for 2008 has been published today on the website www.trelleborg.com, and has also been sent to Trelleborg’s shareholders.
In the CEO’s comments, President and CEO Peter Nilsson says that Trelleborg faces major challenges, but that it can draw strength from the company’s enhanced market positions.
“2008 was a turbulent year in many ways,” writes Peter Nilsson. “An economic slowdown was anticipated by many, but nobody could foresee how rapid it would be. Following a favorable trend in the first three quarters of 2008, the downturn in the fourth quarter was dramatic.
“Overall, the rapid decline in the market in the fourth quarter of 2008 had a significant impact on Trelleborg. Sales for the year amounted to SEK 31,263 M, and operating profit in continuing operations, excluding items affecting comparability, totaled SEK 1,798 M.
“At the same time as our daily decisions are influenced by the exceptionally challenging times we confront today, we must also look to the future. Our long-term aggressive strategies and goals stand firm. If we look at what we have accomplished in the longer term, our strategic shift in the most recent three-year period has meant that we face this recession well prepared.
“Since 2005, three of four of our business areas, equivalent to 70 percent of the Group, have significantly enhanced their market positions through average annual growth of 14 percent. We have thus expanded at a more rapid pace than the underlying market. As proof of this, we were ranked the world’s largest industrial rubber company in 2008 in the annual review performed by the respected trade journal Rubber & Plastics News.
A general theme in the annual report are the factors that differentiate Trelleborg – its ability to offer its customers different solutions that seal, damp and protect in demanding environments. Examples include a damping rubber bearing system for railway tracks in Australia, buoyancy modules that protect oil rigs in extremely harsh environments far out at sea and massive seals that protect cogwheels in wind turbines against rain, dirt and saltwater, while also preventing the lubricating oil from leaking out.
The Annual Report can be ordered at www.trelleborg.com or from Trelleborg Corporate Communications,
Tel: +46 (0)410-670 00.