STOCKHOLM, Sweden, July 22, 2004 (PRIMEZONE) -- For the first half of 2004, the Trelleborg Group reported a sales increase of 38 percent compared with the preceding year. All business areas showed increased sales, and Trelleborg Sealing Solutions, acquired during autumn 2003, continued its strong performance. Four of five business areas had organic growth of approximately 5 percent.
The divestment of Trenor that was carried out during the second quarter yielded a capital gain of SEK 620 M. Excluding Trenor, the Trelleborg Group's operating profit rose by 52 percent.
- Net sales amounted to SEK 6,108 M (4,342) during the second quarter, and to SEK 11,923 M (8,631) during the first half of the year.
- Net profit increased to SEK 810 M (176) in the second quarter and to SEK 1,008 M (317) in the first half of the year.
- Earnings per share rose to SEK 9.30 (2.10) in the second quarter, and to SEK 11.60 (3.80) in the first half of the year.
- Operating profit, excluding Trenor, increased to SEK 360 M (273) in the second quarter and to SEK 740 M (487) in the first half of the year. Profit after financial items increased to SEK 287 M (253) in the second quarter and to SEK 583 M (458) in the first half of the year.
- First half of the year, excluding Trenor and goodwill amortization:
- Operating profit (EBITA): SEK 940 M (567) - Profit after financial items: SEK 783 M (519)
- Net profit: SEK 545 M (336)
- Earnings per share: SEK 6.25 (4.00)
- The remaining 49 percent of the shares in the Japanese subsidiary, the Eika Corporation, were acquired.
- Structural rationalization measures within Trelleborg Automotive in North America completed. Expenses totaling SEK 60 M related to the closing of the plant in Logansport, Indiana, were charged to operating profit in the second quarter. This is expected to have a positive effect on earnings beginning in the second half of 2004.
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