Year-end Report 2011 | Trelleborg Group

Year-end Report 2011

“2011 was a successful year for Trelleborg. Our efforts within continuous improvements continued at a brisk pace. We grew organically and made acquisitions and divestments to create improved leading positions in attractive segments as well as a better geographical balance. We achieved our financial targets for the Group.
Sales were favorable during the fourth quarter of 2011, with the exception of the offshore oil/gas segment in Trelleborg Engineered Systems, where there was a significant year-on-year decline. The previously announced problems - production disruptions and extended lead times - in the offshore oil/gas segment had a distinctly negative impact on both sales and earnings. The production disruptions have been resolved since year-end and we have generally noticed a steady and clear stepwise improvement in orders received as well as sales, in addition to improved earnings within the segment.
During the quarter, Trelleborg signed an agreement with Freudenberg to create a joint venture in antivibration solutions for light and heavy vehicles. The completion of the transaction is subject to the approval of the relevant competition authorities.
The year 2012 has started well for Trelleborg, but because of the market uncertainties, we are monitoring developments closely and we are maintaining readiness in order to manage a volatile market,” says President and CEO Peter Nilsson.

Continuing operations:

  • Net sales during the fourth quarter of 2011 rose to SEK 7,106 M (6,852) and for the full-year to SEK 29,106 M (27,196).
  • Operating profit in the quarter totaled SEK 459 M (400). Items affecting comparability amounted to an expense of SEK 70 M (expense: 118). For full-year 2011, operating profit totaled SEK 2,431 M (2,036). Items affecting comparability were included in a negative amount of SEK 204 M (neg: 250).
  • Operating cash flow during the fourth quarter was SEK 726 M (929). For full-year 2011, the operating cash flow was SEK 1,655 M (2,190).

The Group in total:

  • Consolidated net sales for the quarter amounted to SEK 7,106 M (7,045) and for the full year to SEK 29,150 M (28,778). Operating profit for the quarter increased to SEK 459 M (423) and for full-year to SEK 2,689 M (1,952).

Market outlook for the first quarter 2012. Demand is expected to be in line with or slightly higher than the fourth quarter of 2011, adjusted for seasonal variations.

Proposed dividend. The Board of Directors and President propose a cash dividend of SEK 2.50 per share (1.75).

Invitation to presentation and teleconference on February 15 at 09:30 a.m.

A presentation and telephone conference will be held on February 15 at 9:30 a.m. The presentation will be held at Operaterrassen in Stockholm, Sweden. To participate in the telephone conference, call +46 (0)8 505 629 32 or +44 (0) 20 7750 9950 or +1 866 676 58 69.
Code: “Trelleborg”. The conference will also be broadcast on the Internet in real time.
Visit our website: for Internet link and presentation materials.

Calendar 2012  
Interim report January - March April 19
Annual General Meeting (Trelleborg) April 19, 5 p.m.
Interim report April - June July 19
Interim report July - September October 24

For further information, please contact:

Christofer Sjögren, VP Investor Relations
Tel: +46 (0)410-67068
Mobil: +46 (0)708-665140

Karin Larsson, VP Media Relations
Tel: +46 (0)410-670 15
Mobile: +46 (0)733-747015

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 February 15, at 07:45 a.m.