Year-end report January - December 2008
Lower volume and earnings due to sharp decline in demand and considerable
nonrecurring costs
- Net sales for the full year rose to SEK 31,263 M (30,971). Net sales in
the fourth quarter fell to SEK 7,343 M (7,799) due to a sharp decline in
several market segments.
- Operating profit for the full year amounted to SEK 374 M (1,707). For
the quarter, an operating loss of SEK 800 M (profit: 342) was reported,
including items affecting comparability amounting to an expense of SEK
792 M (expense: 178).
- The European Commission has announced its decision of the competition
investigation that has been ongoing since 2007 after the end of the
period. Fines and costs of SEK 416 M have been included in items
affecting comparability as a result of the decision. Accordingly, the
potential outcome that was communicated earlier is substantially
reduced.
- In addition, items affecting comparability in the fourth quarter include
new impairment of SEK 223 M and costs for restructuring programs in
progress of SEK 153 M, mainly within Trelleborg Automotive.
- The Group's operating profit in the fourth quarter declined, as a result
of reduced volume, costs for capacity adjustment and personnel
reductions, and continued production disruptions in Trelleborg
Engineered Systems.
- Operating cash flow in the fourth quarter remained strong and amounted
to SEK 602 M (811).
“The weakening of the demand in many of our markets in the fourth
quarter was severe. An adaptation of capacity has been in progress since
the second quarter of 2008. At the same time, our market positions have
become stronger and, in many subsegments, we have captured market
shares”,
says CEO and President Peter Nilsson.
Okt-Dec Group Continuing
operations excl.
items affecting
comparability
SEK M 2008 2007 2008 2007
Net sales 7,343 7,799 7,343 7,762
Operating -800 342 -8 524
profit
Profit for -842 140 -127 278
the period
Earnings per -9,35 1,50 -1,45 3,00
share, SEK 1)
Jan-Dec
SEK M 2008 2007 2008 2007
Net sales 31,263 30,971 31,263 30,810
Operating 374 1 707 1 798 2 274
profit
Profit for -258 838 889 1 282
the period
Earnings per -2,95 9,10 9,75 14,00
share, SEK 1)
1) Profit for the period attributable to equity holders of the parent
divided by the average number of shares.
Outlook for the first quarter of 2009. Overall, lower demand is expected
compared with the fourth quarter 2008.
The Board proposes no dividend. The Board of Directors and President
proposes that no dividend be paid for 2008 (dividend 2007: 6.50 SEK per
share).
Invitation to telephone conference on February 11
at 9:30 a.m.
A telephone conference will be held on February 11 at 9:30 a.m. Call +46
(0)8 - 5051 3792 or +44 (0)20 7806 1966 and state the code 9074263 or the
password
“Trelleborg.” Presentation materials will be available at www.trelleborg.com
about 30
minutes prior to the commencement of the conference. Click on “Investors” and
then “Presentations.”
Calendar
Interim report January-March 2009: April 23
Annual General Meeting 2009 in Trelleborg: April 23
Interim report January-June 2009: July 24
Interim report January-September 2009: October 29
For further information, please contact:
Investors/analysts
Conny Torstensson, VP, Investor Relations
Tel: +46 (0)410 - 670 70
Mobile: +46 (0)734 - 08 70 70.
E-mail: conny.torstensson@trelleborg.com
Media
Mikael Sjöblom, VP, Media Relations
Tel: +46 (0)410 - 670 15
Mobile: +46 (0)733 - 74 70 15
E-mail: mikael.sjoblom@trelleborg.com
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 Wednesday, February 11,
2009 at 7:45 a.m.
Year-end report January - December 2008
| Source: Trelleborg AB
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