Trelleborg reports enhanced market position in Q2
In its interim report for the April to June 2011 quarter, Sweden’s Trelleborg AB reported net sales of SEK 7,583 million (£721.2 million) from continuing operation, up on the same period last year. Operating profit grew 9.8 per cent year-on-year to SEK 706 million (£67.2 million) and net profit increased 13 per cent to SEK 469 million (£44.6 million).
“Demand during the quarter remained favourable in most segments,” commented Trelleborg president and CEO Peter Nilsson. “We are continuing to enhance our market positions. Growth was highly satisfactory, notably in China and India. Organic sales rose 13 per cent. Operating profit, excluding items affecting comparability, increased to SEK 751 million (£71.4 million), with the EBITDA margin exceeding our financial target and totalling 12.8 per cent. Higher raw material costs have been generally compensated by higher sales volumes, price adjustments and other measures. We are continuing to focus our operations and raise our presence in selected profitable segments. Two acquisitions and one divestment were completed during the period.”
Trelleborg expects demand in the third quarter to remain in line with the second quarter, adjusted for seasonal variations.