Trelleborg achieves record Q3 profit despite market headwinds

Swedish industrial firm Trelleborg AB on Friday reported its strongest-ever third-quarter operating profit and margin, citing organic growth across all its business areas.

Adjusted operating profit, or EBITA, rose 5% to 1.54 billion Swedish kronor, with the corresponding margin widening to 18.1% from 17.3% a year earlier, the company said.

Net sales for the quarter increased 1% to 8.53 billion kronor, as 4% organic sales growth and a 3% contribution from acquisitions were mostly offset by a 6% negative impact from currency exchange rates.

The company reported strong global growth in its aerospace business and solid performance in its industrial segments in Europe and Asia, though North American sales remained weak.

Earnings per share rose 11%, driven by the improved result and an ongoing share repurchase program, according to the company.

Trelleborg said it expects demand in the fourth quarter to be on par with the third quarter, but noted that the outlook is associated with continued uncertainty due to the geopolitical situation.