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Trelleborg Q4'13 net sales rise 4%
13
Feb '14
“2013 was the most profitable year ever for the Trelleborg Group, despite the fact that the anticipated economic recovery did not materialize. We further strengthened our market positions and closed in on the long-term targets we have set for our profitability. Our cost and capital efficiency programs continued to deliver favorable results. These successes strengthen the Group and provide a platform that motivates an intensified emphasis on growth and innovation moving forward.
 
“The sales performance reported by the Group in the fourth quarter was satisfactory, considering the lower level of project invoicing that was just for this period. The operating margin for all business areas improved in relation to the year-earlier period and both operating profit and operating margin were the highest ever recorded by the Group in a fourth quarter. Acquired operations made a positive contribution to earnings.
 
“Compared with the situation at the beginning of 2013, we now find ourselves on more stable ground. While some signs of economic recovery are visible, it is too early to talk about a broad-based upturn. We are continuously monitoring developments and are maintaining preparedness to adjust our various businesses to fluctuating demand,” says Peter Nilsson, President and CEO.
 
Continuing operations, fourth quarter
Net sales for the fourth quarter of 2013 increased by 4 percent (decrease: 3) and totaled SEK 5,145 M (4,966). Organic sales increased by nearly 2 percent (0). Effects of structural changes represented positive growth of 3 percent (0) while the effects of exchange-rates movement were a negative 1 percent (neg: 3).
 
Operating profit, excluding items affecting comparability and the participation in TrelleborgVibracoustic, rose by 26 percent to SEK 563 M (446), equivalent to an operating margin of 11.0 percent (9.0); the Group’s highest ever for a fourth quarter.
 
Items affecting comparability amounted to an expense of SEK 68 M (expense: 129), which was fully attributable to restructuring programs announced earlier.
 
Operating cash flow declined as a result of higher market activity and amounted to SEK 867 M (1,101).
 
Fourth-quarter operating profit for TrelleborgVibracoustic, excluding items affecting comparability, rose 46 percent to EUR 35 M (24), corresponding to an operating margin of 8.2 percent (5.9).
 
Trelleborg’s participation in TrelleborgVibracoustic, including negative items affecting comparability of SEK 4 M, amounted to SEK 123 M before tax (37).
 
 

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