STOCKHOLM, Sweden (April 22, 2010)—Trelleborg's profits jumped in the first quarter of 2010, despite a modest increase in sales.
This comes as a result of the cost-savings achieved in the last year, the company said.
Sales increased to $976 million from $951 million, but operating profits rocketed to $69 million from $6.4 million
The results were presented at the company's Annual General Meeting, where CEO Peter Nilsson said, “The year 2009 was a dramatic one, with a sharp decline in demand, to which we swiftly and effectively adapted ourselves. Dramatic times create opportunities, and Trelleborg forcefully seized on these opportunities and emerged a stronger group than before the crisis. We are well prepared for the future with contingencies for both a rise and decline in the market.”