Continued favorable growth in second quarter
”The implementation of efficiency measures and continued focus on profitable segments shall create margin improvements and increased growth”, says CEO Peter Nilsson.
The order and delivery scenario remained good in the second quarter and growth was favorable, with organic growth totaling 8 percent.
Three out of four business areas increased both operating profit and operating margin as a result of such factors as favorable volumes and continued successful focus on more profitable segments
Trelleborg Automotive’s strategic and operational review continues. A decision was made to close a plant in Italy
In May, the US Justice Department and the EU competition authority started investigations into a suspected cartell for certain types of marine hoses for the transport of oil. The investigation comprises several international companies, including one of Trelleborg’s French subsidiaries.
Net sales increased by 13 percent during the second quarter to SEK 7,943
M (7,044) and to SEK 15,719 M for the January-June period (14,039).
Second quarter January-June
Net profit SEK 259 M (274) SEK 481 M (574)
of which, items affecting
comparability*, net SEK -81 M (-1) SEK -214 M (-16)
Earning per share for the second quarter amounted to SEK 2.80 (2.95) and
for the January-June period SEK 5.25 (6.25).
Key operating ratios
Continuing operations, excl. items affecting comparability*:
Second quarter January-June
Operating profit SEK 594 M (507) SEK 1,202 M (975)
Profit before tax SEK 493 M (431) SEK 1,004 M (831)
Net profit SEK 340 M (305) SEK 695 M (586)
Earnings per share SEK 3.70 (3:35) SEK 7.60 (6.40)
Outlook for the third quarter of 2007
The outlook for the third quarter of 2007 remains unchanged from the outlook for the first two quarters of the year.
For general industry, demand is not expected to decline and it is anticipated that the very strong demand in the Aerospace and Oil/Gas segments will continue. Cutbacks in production, mainly among North American customers, are expected to have adverse effects on automotive-related operations.
* For calculation of key operating ratios, the following items that affect comparability have been excluded: restructuring expenses, impairment losses, nonrecurring revenue and nonrecurring costs.
INVITATION to telephone conference on July 24, at 09.30 a.m. CET
A telephone conference will be held on July 24 at 9:30 a.m. CET. Call +44 (0)20 7806 1966 or +46 (0)8 5352 6407 and state the password “Trelleborg.” Presentation materials will be available at www.trelleborg.com from about 30 minutes prior to the commencement of the conference. The conference will be recorded and will be available for five days following the conference on tel. +44 (0)207-7806 1970 or +46 (0)8 5876 9441, code 7472383#.
Nine-month report 2007 October 26, 2007
Year-end report 2007 February 15, 2008
Bo Jacobsson, Chief Financial Officer
Phone: +46 (0)410-670 99, Mobile: +46 (0)70-685 65 60
Mikael Byström, Senior Vice President, Investor Relations
Phone: +46 (0)410-670 37, Mobile: +46 (0)708-55 21 69
Viktoria Bergman, Senior Vice President, Corporate Communications
Phone: +46 (0)410-670 94, Mobile: +46 (0)708-47 57 33