Trelleborg's Year-end Report 2009 “In an exceptional market situation, our organic sales for the full-year 2009 declined 21 percent compared with 2008. By focusing on our most valuable businesses, quickly adjusting our capacity and increasing the speed of the ongoing action programs, we have adjusted our operations. “During the fourth quarter of 2009, the EBITDA margin was slightly more than 10 percent compared with slightly less than 4 percent in the year-earlier period. It was particularly satisfying that the actions implemented within Trelleborg Automotive began generating effects. “Efficient management of working capital and a gradual improvement in earnings led to a doubling of operating cash flow to SEK 3.2 billion during the year. Together with the rights issue during the year, this generates financial strength that provides freedom of action moving forward. “The development of the demand going forward remains uncertain. We have now however a more efficient structure with increased flexibility to accommodate future market changes. The Group's strategy remains. The priorities include continuing to improve the company's structure and geographic balance, increasing synergies in the Group and refining the product portfolio”, says President and CEO Peter Nilsson Net sales in the fourth quarter totaled SEK 6,756 M (7,343). Net sales for the full-year 2009 amounted to SEK 27,059 M (31,263). Operating profit in the fourth quarter rose to SEK 197 M (loss: 800). Items affecting comparability amounted to an expense of SEK 231 M (expense: 792). Operating profit for the full-year 2009 rose to SEK 773 M (374). Items affecting comparability amounted to an expense of SEK 390 M (expense: 1,424). Operating cash flow for the fourth quarter increased to SEK 914 M (602). Free cash flow increased in the fourth quarter to SEK 608 M (279). Operating cash flow for the full-year 2009 rose to SEK 3,215 M (1,594). In 2009, net debt was reduced to SEK 8,369 M (12,706). The debt/equity ratio fell to 68 percent in the fourth quarter (124). October - December 2009, in parenthesis the same period 2008 Net sales 6,756 (7,343) Operating profit 197 (-800) Profit for the period 92 (-842) Earnings per share, SEK 1) 0.30 (-4.25) Operating profit excl. items affecting comparability 428 (-8) Earnings per share, SEK excl. items affecting comparability 1) 0.90 (-0.65) January - December 2009, in parenthesis the same period 2008 Net sales 27,059 (31,263) Operating profit 773 (374) Profit for the period 419 (-258) Earnings per share, SEK 1) 1.70 (-1.35) Operating profit excl. items affecting comparability 1,163 (1,798) Earnings per share, SEK excl. items affecting comparability 1) 2.90 (4.45) 1) Share of net profit for the period attributable to equity holders of the Parent divided by the average number of shares. Following the rights issue, the average number of shares was adjusted according to guidelines in IAS 33. This calculation method has been applied throughout this report in all key figures that include the number of shares.The calculation method gives an average number of shares in 2009 of 240,699,594 while the number of shares end of period amounts to 271,071,783. Market outlook for the fourth quarter of 2010. Overall, demand is expected to remain in line with the fourth quarter of 2009. Proposed dividend. The Board of Directors and President propose a cash dividend of SEK 0.50 per share (-). Invitation to a presentation and telephone conference on February 16 at 9.30 a.m. A presentation and telephone conference will be held on February 16 at 9:30 a.m. The presentation will be held at Operaterrassen in Stockholm. To participate in the telephone conference, call +46 (0)8-5051 3794 or +44 20 7806 1968 and state the code 8073146 or the password “Trelleborg”. The conference will also be broadcast in real time on the Internet. Visit our website at www.trelleborg.com/en/Investors/Presentations for Internet link and presentation materials. Calendar Interim report January-March: April 20 Annual General Meeting in Trelleborg: April 20, 5:00 p.m.. Interim report April-June: July 21 Interim report July-October: October 28 For further information, please contact: Investors/analysts Conny Torstensson, IR Manager Tel: +46 (0)410 - 670 70 Mobil: +46 (0)734 - 08 70 70 E-mail: conny.torstensson@trelleborg.com Media Mikael Sjöblom, Media Relations Tel: +46 (0)410 - 670 70 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 Tuesday, February 16, 2010 at 7:45 a.m.
Trelleborg's Year-end Report 2009
| Source: Trelleborg AB
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